DIYbanter - View Single Post - Any risk in buying a house with finished basement without permit -Please advise

wrote:

In article , said...
Aside from the points made by others, no bank/mortgage company will touch a
property which does not have a Certificate of Occupancy on an extension, or
in this case, a finished area. Ask the current owner if he/she is willing
to do the legwork to get the C of O and pay the fines. It can get very
expensive and time consuming. If he/she won't, walk away.

That's not true at all. I sold a house last year with a basement that I
did off the books. I also know many people that have done the same thing
and had no problem. It is quite a common occurrence, legal or not.

It depends on the town. Our town requires that an inspection be done by their
building inspector and a CCO, Certificate of Continued Occupany, be issued
before a house is sold. They are looking for any open permits or work done
without a permit. They recomend you make an application for the CCO a month
before closing so you have time to rectify any problems before closing.