Closings glossary
Open permit
A DOB permit filed for work that was never signed off. Closing it usually means a licensed professional filing for inspection or formally withdrawing the job.
What is an open permit on a building?
Quick Answer
The full definition
A DOB permit filed for work that was never signed off. Closing it usually means a licensed professional filing for inspection or formally withdrawing the job.
Where does open permit come up in a New York City closing?
A Queens seller's 2016 plumbing permit is still open, and the parties escrow $10,000 so the buyer can hire a plumber and obtain the sign-off.
What else should you read before closing?
In the glossary
- Violation (cited against the premises)An agency record that a condition at a property does not comply with a code or rule. It attaches to the premises and follows the property through a...
- Certificate of CorrectionThe filing that certifies to a City agency that a cited condition has been corrected. Acceptance by the agency, not the repair itself, is what clos...
- Escrow (at closing)Funds or documents held by a neutral party until stated conditions are satisfied. At a New York closing it usually means a holdback from proceeds u...
- BIN (Building Identification Number)A seven-digit Department of Buildings number identifying one building. A single tax lot holding a main house and a rear structure carries a separat...
- Certificate of Occupancy (C of O)The Department of Buildings document that fixes a building's legal use and occupancy. Lenders and title companies read it to confirm the property c...
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Legal Disclaimer: This page is general information about New York practice. It is not legal advice, it does not account for the terms of any particular contract, building or transaction, and reading it does not create an attorney-client relationship. This is attorney advertising. Prior results do not guarantee similar outcomes.