Can You Close Escrow On A New Construction Home Without a Certificate of Occupancy (C of O)?

The closing date on new construction is always a moving target which frustrates buyers and developers to no end.   It's a dance and a nuanced art form.  When will the builder get a Certificate of Occupancy?  When will the city give final permit sign off?  How long does it take to turn on utilities?   Will a lender fund without a C of O and without Power on?  What if the buyer made custom changes which are delaying the close?  What if a fixture is on back order and not delivered at close?  Do we leave money in escrow until all items are completed?  These are just a few questions you need to ask yourself if you are buying a new home.   Both parties have conflicting agendas and it is challendging creating a happy medium that both buyer and seller can live with.  It is not easy and it is not a one size fits all solution.  Each closing needs to be customized and varies dramatically based on the other terms in the deal and the context of the agreement.  I've sold dozens of new homes and each time it is different.   You can find the Podcast's Instagram @thedealpod https://www.instagram.com/thedealpod/?hl=en     Youtube Link to This Episode