Change Dept of Finance assessment of units in property?

My house has no C of O (pre-dates). Dept of Finance classifies our house as a two-family but it’s configured as a one family. Was trying to get a loan on the house but the bank denied due to the discrepancy. Was thinking we should request Finance to change the designation but don’t want a can of worms where we have to get a C of O and convert with Buildings… or do the two city agencies even speak to each other? Does anyone have any experience changing classification with Finance?

gowanusgekko

in Building Code 11 years and 4 months ago

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mortgagepro | 11 years and 4 months ago

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Like Adam states above, there are plenty of lenders who will treat the house as its current use. Your scenario is very common. The Legal Use occupancy classification comes from Department Of Buildings. Department of Buildings does not have a Classification as there is no CO. Fine. Department of Buildings makes a point that the Department of Finance tax status may not be the same as the legal use of the structure. (They make a point of this as most all of Brooklyn has inconsistent tax status. That is a known fact and why the DOB specifically addresses it.) So, if there is no CO and the building is Legal, with no DOB violations, and the appraiser notes the Single Family as current and best use this alleviates any of the underlying concern that the property is not legally conforming to the DOB. (Having one electric meter is also something a lender would also use as a guide.) Adam Roberts South Shore Mortgage NMLS#1310 631-956-0111 adamr@fast2fund.com

adam_dahill | 11 years and 4 months ago

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What lender are you working with? I’ve done dozens of mortgages for properties just like yours. You are allowed to use a 2 unit as a 1 Family. Give me a call if you like, beats having to deal with changing the designation with the city. Who knows what hoops they will have you jumping through. Adam Dahill Mortgage Master Inc. 135 West 50th Street, 18th floor New York, NY 10020 Office: 212-351-8020 Cell: 917-696-6010 Fax: 917-677-7164 adahill@mortgagemaster.com NMLS ID: 66099 https://www.mortgagemaster.com/adahill/ https://www.facebook.com/AdamDahillMortgageMaster

ventilated | 11 years and 4 months ago

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First, check HPD registration, as well as review I-card: https://webapps.hpdnyc.org/HPDonline/provide_address.aspx Also, read instructions at this link: http://www.nyc.gov/html/hpd/html/owners/property-reg-unit.shtml Unless things have changed very recently, HPD, DOF and DOB do not talk to each other. HPD relies on information supplied by owner in annual registration.

jockdeboeraia | 11 years and 4 months ago

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You can try a letter of no objection but it sounds like you will need a C of O to be created.

daveinbedstuy | 11 years and 4 months ago

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I would go through a mortgage broker. They will know the requirements of their lenders. Adam Dahill is great. This should not be a problem since there is no official C of O.

mrohrmann | 11 years and 4 months ago

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You could always try another lender as some may not care and yes you could be opening up a can of worms. DoF and DoB have automated systems to contact each other on certain issues but stuff like this is going to be on you to solidify in a timely manner.

wiley | 11 years and 4 months ago

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To change my designation I had to submit a c of o. So you may have to rectify that issue. Also there are specific yearly deadlines to request these changes. My guess is that you are looking at the 2015 tax year.