Through online research and our physical inspection service, we will make a preliminary investigation into the subject property’s compliance with New York zoning laws, building codes, and permit-filing requirements. If any issues of concern are discovered, we can recommend a licensed architect who can provide a full report on these issues.
While many of these issues are insignificant and need not effect a buyer’s purchase decision, there are some issues, such as non-compliance with certificate of occupancy, that can have serious ramifications. For example, a legal two-family townhouse that has been converted to a three-family home will likely be declined for mortgage financing and expose the owner to large civil penalties from the City of New York. As part of your due diligence, it is critical that you have all the information on your prospective purchase before contract.