Loan Application and Deck CO issue_NY# Living
m*d
1 楼
Hi, we are about signing a contract for a house. This house had an illegal
deck. The seller applied variance for the deck, and variance is approved
last week. Now building department will issue C.O. paperwork for this deck,
will take several weeks. The contract has a term of 30 days loan commitment.
I am wondering if loan application can only be started after this deck
receives final CO paper for the deck. Then we cannot have this commitment of
loan within 30 days, as CO paperwork might be done in 30 days.Or these 2 (
waiting for CO and apply for loan) can be done at the same time, as long as
CO paperwork is received before the closing day, the loan can be approved.
We also request our lawyer to ask the term that the seller should compensate
our bank appraisal fee if the seller cannot get CO paperwork. But the
seller refused this request, made me feel very suspicious. It is like they
are not sure they will get CO. Something sounds fishy. Please share your
thought, thanks.
deck. The seller applied variance for the deck, and variance is approved
last week. Now building department will issue C.O. paperwork for this deck,
will take several weeks. The contract has a term of 30 days loan commitment.
I am wondering if loan application can only be started after this deck
receives final CO paper for the deck. Then we cannot have this commitment of
loan within 30 days, as CO paperwork might be done in 30 days.Or these 2 (
waiting for CO and apply for loan) can be done at the same time, as long as
CO paperwork is received before the closing day, the loan can be approved.
We also request our lawyer to ask the term that the seller should compensate
our bank appraisal fee if the seller cannot get CO paperwork. But the
seller refused this request, made me feel very suspicious. It is like they
are not sure they will get CO. Something sounds fishy. Please share your
thought, thanks.