Mortgage Glossary
Certificate of Occupancy
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A certificate of occupancy is a local government document confirming that a building meets code and is safe to live in.
What Certificate of Occupancy means
New construction and major renovations require a CO before anyone can move in. Lenders require it before funding a new-construction purchase. It certifies the home passed final inspections.
Florida example
A buyer of a new Lakewood Ranch home could not close until the builder secured the certificate of occupancy confirming the house passed its final municipal inspection.
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