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September 3, 2009
CofO - DOB Website?
We are close to signing the contract on a newly-constructed condo unit. The building does not yet have a temporary CofO, but they've said they expect to get one "any day now". I checked the CofO status on the DOB website, and it says there are 6 outstanding "Objections" and several outstanding "Requirements". Just curious what the difference is - the list of objections seems like more work than the requirements, but do objections need to be cleared before a CofO (temporary or permanent) can be issued? Also, if there are still open objections and requirements on the DOB website, is it really likely that they're going to have a CofO "any day now"?
Comments
i would not even consider buying into a condo without a temporary c of o..this stuff is pretty commonplace, but why are you jumping into a new construction project that may have some real issues?
Posted by: eman1234 at September 3, 2009 9:47 PM
We signed a contract on a new construction condo in March last year, hoping that the TCO would be issued in August and we could move in during the summer. Unfortunately, the Department of Buildings being what it is, it took until December to get the TCO so we could close and move in. The developer will move this along at the fastest possible pace because you can't close until the TCO is in place. Talk to your lawyer, but it is quite common to sign the contract pre TCO and close after the TCO is issued. Six outstanding items is quite a small number, and they can disappear within an instant. We went from 32 items to nine in one day. When the TCO was issued there were still six or more items outstanding, but they disappeared the day the final CO was issued. Your lawyer may be able to tell you more about the type of outstanding items that are of concern, but a lot of them just require the inspector to sign off.
Posted by: bohuma at September 8, 2009 10:35 AM
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