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What happens if you close on a new house without a certificate of occupancy?In: Home Buying, Real Estate |
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You have become the owner but you do not have a legal right to occupy the property. If you are borrowing money from a traditional lender they may not allow the transaction to close and the loan proceeds to be released until the certificate has been issued. Check the local laws and the loan conditions as both can come into play.
First answer by JohnCorey. Last edit by JohnCorey. Contributor trust: 44 [recommend contributor]. Question popularity: 1 [recommend question]
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