I'm looking at a property in NJ and the broker is telling me it's a 2 family
but I check the tax records thru the city and they have it listed as a 3 family.
I'm assuming the city and tax records are correct.
I asked if there is a green card (5 year state inspection) and the broker said that is only applicable to 3 family+ properties.
If I buy the property and the state has not been inspecting the property, what is my responsibility?
I need to do the right thing but I also know it can be opening a can of worms.
1-4 family properties do not need green card.
ask building inspection department they will tell if it is actually 3 family or not.
@Steve Rivers you will have a 3 day attorney review period to inspect property, during this time you can back out of the deal without any worries if problems arise you feel you can not handle. You may want to check with zoning about duplex or triplex.
Did you go in the house yet?
Gamal did the Multiple Dwelling and Hotel Act which dictates the issuance of a green card change? For as long as I can remember it has always applied to residential and commercial buildings with 3 or more units.
Steve, what city is this? go down to City Hall and find the Department that is responsible for determining usage. It could be the building department. It is likely the zoning department. the tax department could be determining it is a three family because of the size of the property and for tax purposes only. It may have nothing to do at all with the legal usage of the property so do not necessarily go by the tax records. Get in writing what they determine the legal usage of the building to be. Even The zoning could be irrelevant as it could be grandfathered in. So you want to know whether or not the property is a legal two family, alegal 3 family or whatever.
Ibrahim Hughes, STEP Buys Houses LLC | http://www.StepBuysHouses.org
We do not have a signed contract.
Thanks for the input.
We are assuming that what you're seeing when you look at the place is only two apts, right? If so green cards aren't applicable. It might have been a three family in the past, or just in a three family zone. Ask the building dept for clarification.
I once looked a a three store front building that had two apts above. The local inspector told me that there was no inspections there being that it needed three & over living spaces (apts) to fall under that ruling for inspections.
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