Thanks in advance for all comments. So I’m in the pre-contract phase of purchasing a legal two-family home in Town of Hempstead, Nassau County, NY. The home is currently assessed as, and being taxed as a two-family home. It is currenty listed as legal two-family on my local government’s online property search. My agent went to town hall and found that the home has no certificate of occupancy because one was never issued since the house was built before they were required. So the house has NEVER had a C/O. The house has been sold successfully several times over the years. At some point in the last 115 years it was converted to a legal two-family home and the tax assessor is very aware of that, but again this was somehow done without a C/O. Everyone has been very clear on the fact the the house has never had an original C/O. There is a full finished basement with full bath, which again doesn’t have a C/O either since the entire house doesn’t have one. I want to buy this house but I need some unbiased opinions. It would be an as-is sale. I plan on doing some kitchen and bathroom remodeling and upgrading the electrical and hot water heaters, which I know will require permits. I can’t really afford to pay both my monthly rent AND a large mortgage simultaneously for several months if this turns into an issue. I already had a home inspection done and there are no major issues but if I have to walk having only lost $685 for the inspection I’m fine with that.
Thanks again for any comments.