- Posted October 15, 2013 by
New York, New York
This iReport is part of an assignment:
Real Estate Horror Stories
This is a true story and a nightmare for every Real Estate buyer in New York City; Please Share.
Everyone knows that developers often sell properties before they are even built. These developers obtain temporary certificate of occupancy and rush a closing before the 90 day expiration date of the certificate. The temporary certificate is given before final inspection by the Department of Buildings. Therefore, the buyer may never obtain a final certificate of occupancy, if the builder "cut corners" or deviated from approved plans. Lack of final CofO prevents obtaining home insurance, sale of the property, and leads to civil penalties.
If you are buying a house or know someone who is looking to buy a house, please share this info. It may save you or your friends from buying bad Real Estate and financial ruin.
Are you buying a Condo or a Home?Ask for BUILDVIO Reports - building violations history reports, before you sign a purchase offer!