The key document used to certify the legal use and occupancy of a building is called the “Certificate of Occupancy” (C of O). The document is issued by the Department of Buildings and describes how a building may be occupied, for example, a two-family home, a parking lot, a 40-unit multiple dwelling, or a store. A C of O is often required when selling a home or refinancing a mortgage.
*Information obtained from Dept. of Buildings
A valid Certificate of Occupancy is required for all recent or new buildings throughout the 5 boroughs. Like a fingerprint, the c of o identifies characteristics that are specific to the property such as use group, room count and other important information. Obtaining C of O can be a complicated & lengthy process. Let Building Brothers help you formulate a strategy to obtain your C of O in an expedient manner..
The Importance A Valid Certificate of Occupancy
When considering whether to buy or sell a property, a valid Certificate of Occupancy is a crucial detail that demands yours attention. Banks will typically deny mortgage applications for properties that do not have a valid Certificate of Occupancy. If perspective buyers are unable to obtain financing, a seller will be limited to cash offers; which will greatly reduce the likelihood of selling the property for the desired price. Building Brothers can help you obtain a valid Certificate of Occupancy so you can realize the maximum value at the time of sale.
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