m***i
发帖数: 133 | 1 Just made an offer, the seller agent response with that "we do not want to
get into any repair issues. We can do U&O." . Is this meaning that if
inspection found some problems, they will not repair? what is the U & O
meaning? Can it be replaced for inspection? | w*****m
发帖数: 20421 | 2 Use and Occupancy
Definition of 'Use And Occupancy - U&O'
Refers to a type of permit required by some local governments whenever real
property is transferred. Usually U&O regulations require the property seller
to pay a fee of around $100 and allow a government official to inspect the
property. The inspection's purpose is to ensure that the property complies
with local housing codes and ordinances and that all the necessary permits
have been filed. It is also referred to as a "resale inspection," an "
occupancy permit," and a "U&O certificate."
Investopedia Says
Investopedia explains 'Use And Occupancy - U&O'
The U&O inspection must be completed within a limited timeframe, such as 30
days prior to closing, and a U&O certificate may only be valid for a limited
time, such as 90 days.
In localities with no U&O requirement, buyers and sellers can make their
own determinations about the condition in which they are willing to buy and
sell the property and the transaction can proceed more quickly and smoothly.
The buyer may purchase a private home inspection and may ask the seller to
make repairs as a condition of closing the deal. The seller is free to agree
to make the repairs, to negotiate for the buyer to perform a portion of the
repairs, or to walk away from the transaction. When local government is
involved, the seller is forced to spend time and money to fix anything the
government deems necessary, without regard to the prospective buyer's
requirements. | m***i
发帖数: 133 | 3 是不是U&O certification 更宽松？检查不出重要的问题？比如白蚁和霉？ | w*****m
发帖数: 20421 | 4 主要是看看BUILDING CODE 火灾隐患，白蚁霉啥的可能不看 | m***i
发帖数: 133 | |
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