These words mean that if you see a home that has all of the things that will make it “HOME” for you and your family then you will have to be prepared to pay for the privilege to move in.
What does that mean? Well, that means that you will be PAYING for ALL of the certifications and the certificate of occupancy that the seller normally pays when a home is sold. WHY is this happening? It could be a myriad of reasons? Usually, it is a short sale and the bank feels it is already letting the home go for less than is owed (hence the “short” sale) and they will not pay for you (the buyer) to move into the home. For example, if you will be living in Pleasantville, NJ you will be paying for a chimney certification (which may include a chimney cap), a hot water and furnace certification, a fire certification and depending on your lender, you may also need a termite inspection and a survey. Keep in mind the cost of all of these items will be coming out of your pocket.
So Buyers be prepared to make these extra expenses. You may be getting a bargain price for the home of your dreams but to actually get the certificate of occupancy, will cost you.
If you have questions, please feel free to send me a reply. I would be happy to serve.