Buying and Selling a House in Surf City New Jersey on Long Beach Island New Jersey
Generally, when selling a home in the Long Beach Island real estate market it is the home seller’s responsibility to obtain a resale certificate of occupancy. The requirements of a resale certificate of occupancy, also known as a CO, vary from town to town. In the next section we will be focusing on Surf City’s certificate of occupancy curb requirements and how they can relate to buying and selling a home in the Long Beach Island NJ real estate market.
Surf City’s Certificate of Occupancy Curb Requirements
Before we begin, it is helpful to have some background on what exactly a resale certificate of occupancy is in the LBI real estate market. In the state of New Jersey, towns issue a certificate of occupancy when a home changes from one owner to another. This gives the town the opportunity to inspect the property for safety issues and code compliance. One of these codes which is unique to Surf City is the installation of a curb for all resale homes. This was intended to allow the entire town of Surf City to be curbed without incurring a significant cost to the town. The requirements of the curb are as follows:
- The curb must be made of a solid material such as concrete or brick.
- The curb must be installed prior to the issuance of a resale CO.
- If a curb is not installed, a bond must be put up for two times the amount of the estimated cost.
Buying and Selling Long Beach Island Real Estate
It is important for both buyers and sellers to be aware of this requirement. For a seller, this is an obvious cost that must be factored into the seller’s net proceeds. A buyer must be aware of this if they accept the property with the obligation to obtain a resale certificate of occupancy on their own. If the house is a teardown, the town will make an exception in some cases to delay the installation of a curb until the new home is completed. Of course it is best to speak with a town representative in your city to obtain the most up to date information about a resale certificate of occupancy. For more information about Surf City certificate of occupancy curb requirements or the LBI real estate market in general, please do not hesitate to contact me.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | email@example.com
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