DIYbanter - View Single Post - Can someone explain what this means to me?

dpb

wrote:
On Aug 21, 8:58 am, Phil Again wrote:
On Wed, 20 Aug 2008 11:26:46 -0700, The Reverend Natural Light wrote:

Why?
Because that is what my Real Estate agent told me. In the community I
sold the home, the standard home selling contract contained a fine print
clause about building code violations. Has something to do with buyer's
FHA home load, IIRC. I think the sale contract was some FHA standard
form. VA back loans may have an even stronger worded clause.

Lawyer and banker stuff.

YMMV

Phil

Around here, NJ, the house only has to meet certain parts of the
current code regarding safety in order to get a CO and be sold.
For example, if there are steps leading to the porch that have no
banister, that needs to added. If you don't have smoke detectors,
they need to be added. If there are leaking drain pipes, they need
to be fixed. But there is no requirement that the whole house be
compliant with the current code.

I'd be pretty darn sure that's all the legal requirement would be for
the other poster's case as well. Something added by a lender or even
FHA/VA loan requirements aren't required; there are alternate forms of
financing.

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