What would you do in this Cert. of Occup. situation?<\/p>\n
A little history, we are trying to buy a single-family attached townhouse. Even before we executed the contract, we had a feeling the enclosed 1-story back addition (20’x8′) might be an issue as we had gone on the Dept. of Building website, poked around, and saw that in 2000 some permits were issued but never closed out. We told this to our lawyer who says we won’t know for sure until the title search is done but he had flagged this issue to the seller’s lawyer beforehand. Sure enough, in the last week of Dec., the title search comes back and show that there a Cert. of Occupany in 1940 but a new one was never filed after the job that was not signed off in 2000. A formal letter was sent to the seller’s lawyer.<\/p>\n
Its now a month later, we’ve gotten our letter of commitment from the bank on Jan. 14th \u00e2\u20ac\u201c it expires on Feb. 23rd. Turns out the sellers have not done anything this whole time. The story is their expeditor has told them they need to hire an architect to have drawings drafted and stamped but they are \u00e2\u20ac\u0153taking bids\u00e2\u20ac\u009d was the last we heard. (I don’t actually trust the seller’s lawyer because its not the first time she has mis-represented her client. She told our lawyer that we had all been discussing a 10,000 deduction to the price if we take on this CoO issue \u00e2\u20ac\u201c um, no we’ve never discussed this.) ANYWAYS, our bank will not give a mortgage on a house without a valid CoO. They said they will not even consider an escrow process of any sort because its against conforming loan\/Freddie\/Fannie guidelines apparently. To extend the commitment, they will charge 1\/4pts for the first 30days and then 1\/4pts for each 15days after that.<\/p>\n %<\/span><\/span> | %<\/span><\/a> | %<\/span><\/a> ","protected":false},"excerpt":{"rendered":" What would you do in this Cert. of Occup. situation? A little history, we are trying to buy a single-family attached townhouse. Even before we executed the contract, we had a feeling the enclosed 1-story back addition (20’x8′) might be an issue as we had gone on the Dept. of Building website, poked around, and…<\/p>\n","protected":false},"author":14647,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"schneps_byline":"","schneps_post_style":"","schneps_post_source":"","schneps_syndicated_read_more":"","schneps_post_source_sitename":"","schneps_syndicated_thumb_html":"","schneps_syndicated_thumb_src":"","schneps_post_source_shortname":"","schneps_post_source_url":"","schneps_post_source_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[80],"tags":[],"districts":[],"class_list":["post-28546","post","type-post","status-publish","format-standard","hentry","category-c_of_o"],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/brownstoner.com\/forum-archive\/2009\/02\/help-cert-of-oc\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"HELP: Cert. of Occ. issue","url":"http:\/\/www.brownstoner.com\/forum-archive\/2009\/02\/help-cert-of-oc\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.brownstoner.com\/forum-archive\/2009\/02\/help-cert-of-oc\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"C of O","author":[{"@type":"Person","name":"helppls"}],"creator":["helppls"],"publisher":{"@type":"Organization","name":"Forum Archive","logo":""},"keywords":[],"dateCreated":"2009-02-04T23:09:32Z","datePublished":"2009-02-04T23:09:32Z","dateModified":"2009-02-04T23:09:32Z"},"rendered":"