What is a current certificate of occupancy (CO), and why is it important?

A CO is a certificate showing that any construction that’s been done on the property has been approved by the town or city and that it’s safe and habitable by the standards set out by that town or city. Mortgage lenders are extremely reluctant to lend to any property that has a history of any type of construction that didn’t also carry a CO.

This is important for buyers to know because they might not be able to obtain financing, but it’s also important for sellers to know before any construction or major projects are completed because after the fact there’s little that can be done about it, and it could greatly impact whether or not your home will sell.

0 Comment

Leave a Comment

Your email address will not be published.