ZZGAMAZZ
Elite Member
- Joined
- Jul 23, 2007
- Professional Status
- Certified Residential Appraiser
- State
- California
Anybody familiar with the "Certificate of Occupancy Transfer Waiver" that allows the purchase of a SFR that fails to pass the mandatory city COO Inspection that is conducted commensurate with each pending transfer?
The waiver is described on MLS and noted briefly in the P.A.
Per the City the waiver allows a transfer/purchase to be recorded with the buyer responsible to satisfy the conditions of the inspection after the purchase.
I'm thinking that the appraisal must be conducted "subject to" granting of the COO but that contradicts the nature of the waiver.
I'm waiting on the MB client to contact underwriting. Thanks as always.
The waiver is described on MLS and noted briefly in the P.A.
Per the City the waiver allows a transfer/purchase to be recorded with the buyer responsible to satisfy the conditions of the inspection after the purchase.
I'm thinking that the appraisal must be conducted "subject to" granting of the COO but that contradicts the nature of the waiver.
I'm waiting on the MB client to contact underwriting. Thanks as always.