Is the home you hope to buy against the law?

Don’t go there. (flickr photo by poweron)

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

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