You won’t go to jail if the home you covet violates local laws, restrictions, zoning codes or building standards.
But such a property could impede your acquisition of clear title, home insurance or a mortgage. It also could cost the seller before the transaction closes (or you afterward) a bundle to rectify. It could derail the sale altogether as well.
A bankrate.com column reminded me of the risks and of a co-op I sold that almost was blocked for lack of a required building permit and certificate of occupancy (CofO).
In the sale of two combined units on which my buyers had gone to contract, they didn’t Continue reading