I'm searching on the MLS for a rental property. In the description of the property agents are saying,
"Buyer is responsible for C/O and certs". Does this mean there was work done without permits being pulled from the municipality? Or is there work needing to be done??
The seller is responsible for obtaining certifications. Depending on the town/city and the property use, you might have to have things like certifications for smoke detectors, CO2 detectors, and fire extinguishers. You also have to have a "Certificate of Occupancy" (CO) if required... Not all towns require a C.O. for every property depending on the town rules and the age of the building.
In the case of this property, the seller is trying to make the buyer responsible for the CO and the certifications. So, you would have to arrange for the inspections to occur and to make any repairs necessary to get the property to pass the inspections. You will see this sometimes when there are known issues and the seller doesn't have the resources or the "mental strength" to deal with the process anymore.
If you want to proceed further, make sure you speak to your lawyer about what's needed.
Thank you Chris!! Makes a lot more sense now.