We submitted an offer to purchase a 20 year old retirement home to a real estate broker/agent in Michigan for $650,000. The Seller countered, but the offer expired before the counteroffer was received. In the days that followed, on Tuesday of this week, we drove 4 hours to the county where the home is located to get copies of all information related to this property. We learned in the building department that there was never a certificate of occupancy issued after the home was built nor when a major renovation took place a few years later. If we really want this house, what are your recommendations to most expediently take action to make this happen. Can we put a clause in the purchase agreement requiring a certificate of occupancy before we can accept the counter offer or initiate a new offer with requiring CO or do something else?
The lack of a Certificate of Occupancy from when this house was built and later renovated is a huge RED FLAG in my view.
I highly recommend you have the property thoroughly inspected by an experienced house inspector. My guts tell me there are multiple code issues with this house. And if you're financing the purchase of this property, your lender will require a Certificate of Occupancy. Proceed with caution!