Foreclosure in Kensington>Question Details

Coped, Home Owner in Kensington, Philadel...

We moved into a foreclosed house & did not know about the COP requirements. The bank made no mention of it. Is the bank still liable &?

Asked by Coped, Kensington, Philadelphia, PA Wed Jun 29, 2011

responsible?l The county also made a house inspection when the house was built, but did not make a site inspection. They are now telling us that the COP is required, although people were living in the house prior to us. Can we make the county liable as well as the bank, since, the county failed to do the site inspection when the house was built, and the bank failed to inform us of what was required before selling the house?

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By the way, I forgot to mention that the property is in Virginia, not Philadelphia. Don't know if that makes a difference.
0 votes Thank Flag Link Fri Jul 1, 2011
Thank you all for your responses. They are all very helpful. Mr. Lang, to answer your questions. No the property was never inspected. We financed the house and it was a foreclosure. I've looked through the paperwork and they also went through all the paperwork with us line by line, but nothing was mentioned about and inspection or certificate of occupancy.
0 votes Thank Flag Link Fri Jul 1, 2011
I don't know exactly what you mean...are you speaking of a certificate of occupancy? if so, did you pay cash or get financing? its $103 on resale but if this had never been inspected its more complicated...tell me more about your situation...also, consult your agent atty......sometimes in shortsales and REOs there are corp addendums you signed which discuss this....
0 votes Thank Flag Link Thu Jun 30, 2011
Consult with your agent and or attorney, they can best advise...
0 votes Thank Flag Link Thu Jun 30, 2011
You should be talking with you Agent that represented you when you bought the house you bought the house or check with the Title Company that did your settlement. If you still want advice from an online source get it from one in the county that the house is in. Thanks for your question and I hope this helps.
Philip Cunningham Sr.
VIP Realty Corporation
Philadelphia, PA
215-725-5700x49
0 votes Thank Flag Link Thu Jun 30, 2011
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