If you have a certificate of no-harassment and you are not trying to convert it to a multi-family I don't think the expediter will be adding much value. Get an architect who has done this before and save yourself $10,000.

Posted by: Brownstone rookie at July 22, 2008 5:15 PM in response to Conversion of SRO to one-family

Actually if the house was delivered to you vacant and you receive information on previous renters for the past 3 years from the previous owner it should not be that bad. Especially since it is a one-family that I assume you will be living in. If you have not purchased the house yet I would have the owners make a representation in the contract that they did not harass the tenants for the past 3 years to vacate the premises. This will help to ensure that the Certificate of No-Harassment goes as smoothly as possible. If your application is straightforward - e.g. there were no tenants for the past 3 years or the previous landlord had a good relationship with his/her tenants - then I would not get an expeditor. They will not add any value to the process. The application is pretty straightforward but it takes time to process. I received mine in about 3 months.

Once that is done your architect submits plans to the DOB for a change of C of O that needs to be approved by an examiner. Once the plan is approved (and it should not be that complicated since you are converting it to a 1 family - multi-families are more complicated since there are more requirements) a permit is issued for you to do the work according to the submitted plans. Once the work is done call to schedule an appointment to have the place inspected and then the conversion will be approved. It is not impossible but It will take time. Make sure you have a lawyer that is on the ball. Also some people get a portion of the sale price escrowed until all of this is worked out. This ensures that the seller is cooperating with you throughout the process.

Posted by: Brownstone rookie at July 22, 2008 5:13 PM in response to Conversion of SRO to one-family

That is the number that I hear too, but that is for the paperwork. As 11216 points out, you need to estimate how much work you are going to need to do to bring the building up to code. You'll need those sign-offs before you will be issued a new C of O.

Posted by: g man at July 22, 2008 5:13 PM in response to Conversion of SRO to one-family

If you have a certificate of no-harassment and you are not trying to convert it to a multi-family I don't think the expediter will be adding much value. Get an architect who has done this before and save yourself $10,000.

Posted by: Brownstone rookie at July 22, 2008 5:15 PM in response to Conversion of SRO to one-family

Hey all I am in a similar situation (trying to buy a former SRO). There is a cert of non-harassment but we wish to convert into a 3 family. How is this process different? Mortgage lenders recommendations? Thanks everyone and any help will be deeply appreciated.

Posted by: pierre de taille at July 22, 2008 6:20 PM in response to Conversion of SRO to one-family