A COO is a common document that many homeowners, realtors, and title companies need. For homeowners, this document is needed to start a home renovation project.
Realtors and title companies often need valid documentation to continue the closing process. Read on to learn the facts you need to know about this important document.
What Is It?
A certificate of occupancy is a document that is issued by the local zoning or building department. It states that a home or property is suitable for occupancy in accordance with building codes and other laws.
It will generally state the following:
- The Use of Structure: It will describe the type of property it is, such as industrial, commercial, residential, and mixed-use.
- The Suitability of Structure: This states that the property is in compliance with all necessary standards and codes needed to occupy it.
- The Compliance With Building Codes: This states that the home adheres to all housing and building codes that pertain to it.
Why Is It Necessary?
This document is necessary because a person cannot live on the property without it. If a landlord owns a property and leases it to a tenant without having the necessary certificate, they have no legal ability to collect rent payments.
At the same time, if the property is occupied by the owner, they can be issued a vacate order at any time if they fail to obtain valid documentation.
When Is This Document Necessary?
There are a few instances where a COO document is necessary. One situation where this document is needed is if a new building is being constructed.
Another situation where someone may need to obtain legal documentation is if an existing building has been converted to a new use. For instance, residential properties are often converted into commercial properties.
One more situation where this document is necessary is when ownership of multifamily, commercial, or industrial property changes.
How Do You Obtain a Valid Document?
There are certain steps that you will need to take before you can obtain a valid document. The property will need to pass a variety of inspections.
These inspections can range from plumbing, electrical, fire safety, and general building inspection.
Get Help from Close Permits Fast
Having expired permits can certainly slow down production. If you’re dealing with expired permits, Close Permits Fast can help you get back on track.
The real estate industry is a fast-paced market, but we’re here to help you get the documentation you need. Whether you’re a homeowner, Realtor, or title company, we can provide you with the necessary permit so you don’t have to experience delays. To learn more contact Close Permits Fast today and know about the services we have available for you.