Who is responsible for advising a condominium purchaser that the building diddid not have a certificate of occupancy When the transaction closed
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Who is responsible for advising a condominium purchaser that the building diddid not have a certificate of occupancy When the transaction closed
PURCHASED A condo for all cash went to the closing August 31, 2016
found out Felix later the building doesnot have a certificate of occupancy?
Asked on June 26, 2017 under Real Estate Law, New York
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Don't withhold HOA dues--this had nothing to do with the HOA, and if you fail to pay your dues, you could be sued by them, or have them put a lien on your property.
It is the seller who was obligated to either make sure there was a Certificate of Occupancy or, at minimum, to disclose up front (before you signed the contract) that there was none, so you could decide whether or not to make an offer. A failure to disclose a known material or important fact like this can be fraud; fraud can provide a basis for recovering compensation, such as the cost(s) involved in getting a C of O. You should therefore be able to sue the seller based on fraud for your costs or losses.
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