What can we do if we purchased a condo conversion from developerbut itdoes not have a Certificate of Occupancy?
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What can we do if we purchased a condo conversion from developerbut itdoes not have a Certificate of Occupancy?
In 2008 we purchased a condo conversion which does not have a COfrom the developer. In 2010 we found out that the permit to make the conversion was never issued and that the building permits for improvements were never signed off. Now, due to disclosure laws our condo’s marketability is questionable. The developer is a worthless LLC. Do we have any recourse through the escrow company, title insurance company, or the developer’s broker that handled all 21 sales?
Asked on January 1, 2011 under Real Estate Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You really need to seek help from a real estate attorney in your area on the matter and bring with you all of the documents that you have from the developer and the closing. Was there money help in escrow for the certificate of occupancy? What does the title insurance state? How did the title company handle the provisions that dealt with the certificate of occupancy? As for the broker, was there disclosure or do you feel that there was a fraud involved? All these questions and more need to be dealt with in order to get a clearer picture of who may be liable here. Someone is definitely accountable but you may have to do a little leg work and digging to find out who. Good luck.
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