Buying or Selling a Home
In order to avoid an unexpected Added Assessment bill for work performed by the prior owner, request that your attorney order a "Municipal Tax Search" from the Municipal Clerk. The cost is $10 and is generally provided within 2 to 4 days. This search provides a listing of any unpaid tax payments, open building or plumbing permits, and any potential Added and/or Omitted Added tax assessments.
Before selling a home, contact the Building Department to ensure all construction permits are completed and final inspections have been performed before a scheduled closing.
If permits and/or Certification of Occupancy have not been obtained, or an Added Assessment or Omitted Assessment is pending, your attorney should address the issue of potential fines or assessments in the closing documents.
You should be aware of any tax appeal or other litigation pending for the property. Purchasers of commercial properties should inquire if the current owner has complied with the filing requirements for Chapter 91 (Income and Expense) statements. Non-compliance may preclude the purchasers from the appeal process.