Buying a house where C of O is correct as to 2 family/wrong configuration

Call me to discuss- I have a few questions. Vanessa Thatcher Senior Loan Officer NMLS# 41404 Atlantic Home Capital 4175 Veterans Memorial Hwy, Ste 310 Ronkonkoma, NY 11779 Office: 631-687-3510 x106 Direct Dial: 631-468-8809 Direct Fax: 631-918-5222 Cell: 631-672-4113 “Pennies don’t fall from heaven; they have to be earned here on earth” ~Margaret Thatcher~ Website: www.atlantichomecapital.com You can catch me in the directory at www.Brownstoner.com www.montauk-online.com http://directory.brickunderground.com/listing/guide/mortgages NEW SITE http://www.bktothefullest.com

vthatcher

in About Brooklyn 11 years and 6 months ago

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shalamoosha | 11 years and 6 months ago

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Hello, We have an accepted offer on a house that is configured as a triplex over a one, where the Certificate of Occupancy reflects a double duplex. Seller will not get the C of O fixed before sale. Questions: 1-is bank likely to deny mortgage based on configuration that is incorrect. 2-work that was done on the house prior to seller and by seller was mostly not permitted. There is an extension (garden floor apartment) with a deck on top (for the triplex). What/how will it be a problem for me that the work was not permitted. I believe (but do not know 100%) that the deck/extension is to code (re setback and ratio of house to lot). 3-If I ever want to do permitted work will I have to fix the C of O and how involved is that? Thanks in advance – I have review the archives on similar topics but haven’t seen a situation where the C of O is correct with respect to being a two family house, but not reflective of the configuration and addition.

daveinbedstuy | 11 years and 6 months ago

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1\. bank doesn’t care about unpermitted work unless there are open violations 2\. bank appraiser will look for two kitchens for that C of O. How the floors are actually arranged between units may or may not be an issue I suggest you work with a mortgage broker like Adam Dahill who can hook you up with a lender that really knows brownstones and exhibits some flexibility with that sort of issue.

shalamoosha | 11 years and 6 months ago

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Thanks Daveinbedstuy. Would it be a concern later if we want to do permitted work that the C of O is wrong? (If you know.) Thanks!

Snezan | 11 years and 6 months ago

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last house sale I did was the same situation. Banks had a lot of issues with a different configuration. Two separate offers fell through until a cash buyer was found.

resident2 | 11 years and 6 months ago

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So long as the building is not being occupied illegally: ie: a two being used as a three or a two having three kitchens in it even if one is only a “summer kitchen” or “Kosher kitchen” banks do not concern them selves with the exact configuration. As for the unpermitted work, I would say 90% of the Brownstones in Brooklyn have un-permitted work, so if that is your criteria you will never buy a house. The reason that most work was/is done without permits is that the City raises your Real Estate taxes based on the permitted “improvements” as well as the delays, time and expense for it. Technically you are supposed to get a permit to replace a toilet, even if it is staying in the same place! The one story extension is probably a legal extension, built prior to C of O requirements (an old tea porch) Wooden decks within 3′ of the property line are a violation if an inspector sees it. But Banks are only concerned about violations of record.