Home Buying in Babylon>Question Details

James Novara, Home Buyer in Babylon, NY

Buying a home in Suffolk, NY. Seller's CO does not include the Deck in back.

Asked by James Novara, Babylon, NY Thu May 15, 2008

Made an offer, was then notified that the last deal fell through because the deck in the back is not on the CO. There is also a hot tub and a cabana and I'm concerned that perhaps they need to be on the CO as well and possibly aren't.

I like this house a lot and have made a good offer, but I'm not an idiot. This needs to be resolved. I am not yet in contract. The house is in Babylon, NY to be specific. According to the Real Estate Agent representing the seller, the last deal fell through because of the lack of a CO for the deck which tells me the seller was "unwilling" to file for one and make the place legal. (Possibly because of the tax ramifications or because it wasn't built to code.)

My question is, what are some common ways that Buyers deal with sellers who don't have their CO's up to date?

Thanks,

J

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Answers

4
Your crazy getting a C of O for every little thing, your taxes will be 20K a yr good luck
0 votes Thank Flag Link Tue Jun 11, 2013
Ask your attorney and the seller and/or seller's attorney to get their act together on this. Tell hem you want the matter resolved and you want the deal done. They will put some money in escrow until the matter is solved. Its not the end of the world; you'll get the house. Don' t go crazy on this.
0 votes Thank Flag Link Thu May 15, 2008
Town of Babylon is really tough on C of O's. If you ended up purchasing without them and got away with it, you would have a real headache when it came time to sell. Also, it will definitely affect your taxes.

If you really love the house, investigate with the town what will be incurred in both time & money to correct the situation and what the tax impact will be and then deduct that amount from your offer.

the other option is see if they will do an escrow closing. You will take on the headache of the C of O's, but a certain amount of $ will be held in escrow and not released until everything is approved, no further work is necessary and the permits are received.
Web Reference: http://GailGladstone.com
0 votes Thank Flag Link Thu May 15, 2008
You should have a Realtor that represents you and your best interest. If you do not and are working directly with the agent for the seller you must go to the local town hall office and pull the property card. Ask for help from the staff there and go over what in the house is legal. If those items are not legal find out what the process entails to make it legal. This way if there are monies that need to be paid you and your attorney can be educated enough about the property to request what's fair from the seller. From this point you should be able to resolve this and get the house that you love.

If it does not work out consider this...when it's meant to be it will be! I wish you luck :-)
0 votes Thank Flag Link Thu May 15, 2008
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