Foreclosure in Paterson>Question Details

William, Home Buyer in Brooklyn, OH

what does it mean Buyer responsible for C.O. and all certs required.

Asked by William, Brooklyn, OH Sun Oct 19, 2008

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If Buyer is responsible for C.O. and all certs required? Make certain that your addendum to your offer to purchase read "Seller pay for Non recurring costs as a contingency; contingent on inspection and Buyer obtaining a loan. Special note: As-Is do not mean As-Is...Seller should be responsible for painting all rooms of home before sell, Seller should be responsible for having a fire extinguisher, smoke detectors and carbon monoxide detectors (LAW). It is his/her home....It is not sold yet. Be very careful. Do not spend money on something that is not yours. Also, request for a CLUE report from seller as a contingency- make certain what you are purchasing has a good history with the seller insurance company.
2 votes Thank Flag Link Fri Sep 17, 2010
In NJ it is standard practice for the SELLER to be responsible for obtaining the municipal certifications including the "smoke cert" (smoke detectors, CO2 detectors, fire extinguisher) as well as the "Certificate of Occupancy" if required in that town. Not all towns require a C.O.

If the contract is making the buyer responsible for the C.O. it means that the buyer will have to arrange for the municipal inspections to occur and to make any repairs necessary to get the home to pass the inspections. This is unusual, but it is happening occasionally, particularly in short sales.

Make sure you have a good real estate attorney who knows how to protect you in the event serious/expensive repairs are required to obtain the C.O.
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2 votes Thank Flag Link Mon Oct 20, 2008
Folks - This question was asked in 2008! Very unlikely that William is still reading but we agents should be mindful of the dates to keep the site relevent.
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1 vote Thank Flag Link Sat Sep 18, 2010
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