OT: Monday (3/02) weather in NJ & Home Inspections?

[nyctarheel23]

Found out this morning that an offer I made yesterday on a house in Summit was accepted.

So, now I am in some 72 hour (business day, so ends Wednesday at noon) attorney review,

during which I have the time to back out if necessary--I want to go through with this, NOT back out.

Scheduled land and home inspections for Monday, but this afternoon my gf tells me another winter storm

is "forecast" for Monday. I realize that 48 hours is too soon to be sure --thanks to RU#'s and Bac--but

I am wondering if it is a better idea to have land or home inspections in bad weather?

Thanks for any good suggestions/experience.

The house is a 6 BR colonial built in 1908, last renovated in 1999, in case that matters.

We are told no oil tanks on property or on any 3 adjacent properties, but my attorney insists

we do our own inspection.

 

[imoapie]

There is no law as far as I know that attorney review is three days. I was out same day and yours could be longer. Heck you can come out of attorney review and contingency inspection to no major issues. Congrats on the house.

 

[ATIOH]

The 72 hour window is part of the standard nj contract. It's just boilerplate language. The first thing your attorney and realtor should have advised you of is that the lawyers immediately contact each other and extend it 2 weeks on a rolling basis (or whatever # you choose). If they didn't tell you this, they're either untrustworthy or incompetent, IMHO.

Under no circumstances should you feel rushed to get everything done in 3 days. DO NOT SKIP A THOROUGH INSPECTION. This is one of the most important decisions of your life and you should be very comfortable moving forward now or you'll regret it later.

It's a 100 year old house. I think there's a good chance your inspector will find something that will move your purchase price down, assuming you still go forward.

 

[BigLou]

Tarheel - are you new to the area? I live in New Providence the adjacent town. Summit is very nice. Which part of town are you buying?

Definitely have the property inspected. If the inspector feels that the snow is prohibiting him from doing a complete inspection, have your lawyer amend the contract to provide for some protection.

Are you using a local realtor then they should have a pretty good amount of the type of issues that arise in similar houses.

 

[NewJerseyHawk]

Summit is not too far from our home office, we provide a good amount of home financing in the area, especially great rates for jumbo mortgages over 417K.....tarheel congrats on landing the home, if you have a lending question of want a 2nd opinion on rates or anything, would definitely look forward to hearing from you

gginn@myinvestorsbank.com......

Or my cell at 732-742-4367.....always good to talk hoops, football, recruiting etc etc....

I'd go forward with the inspection, you'll probably find out more about the house on a day like Monday vs it being a clear crisp day with no weather or rain/snow etc....

 

[RST95]

Ignore all of the above advice. Do not inspect until the contract is through attorney review. Until you are through attorney review, the seller can cancel for any reason, including getting a better offer. So, you could spend hundreds to a grand on inspections only to have the seller pull the plug. Get through attorney review first. Your lawyer and your realtor should have told you this.

 

[jtung230]

RSt95 is the winner. Take your time on the home inspection. Welcome to the neighborhood. The best time for a home inspection is right after a good storm. Makes it easy to find the leaks. Make sure you hire a good home inspector.

This post was edited on 3/1 8:58 AM by jtung230

 

[nyctarheel23]

Thanks for all of the advice/suggestions.

Weather will be gone by the morning, so both inspections are confirmed.

Am paying cash, @NJHawk, but perhaps will be in touch after closing to free up some
$$ if global mkts correct like I suspect this spring.

@Big Lou, house is old, but renovated in 1998 off Springfield Avenue by
the Fortnightly (sp?) Club. Not posting the street until I close.Like the neighborhood
and downtown restaurants, etc. Actually kind of excited about
it. My gf --perhaps more one day--grew up a few blocks from there, and it is only a 35 minute drive
to my office (midtown) in the morning, and I am keeping my place in the
City for a year in case I decide I don't like the suburbs.

Taxes are a bit much, but I figure they aren't making any more houses
or property this close to NYC, so hopefully won't be worst investment I made.

Inspectors are 35 and 40+ tradesmen in their fields, and am using
my boss real estate lawyer so think I am comfortable with the
advice.

Thanks all. Safe on the roads in morning!

 

[RU848789]

We looked at our house in Metuchen a few days after the March 1993 Superstorm put down over a foot of snow and some had melted. Felt confident that the dry basement was a good sign (and it was). Good luck...

 

[mikeinsec127]

Welcome to town. I'm on the East Side, so we won't be rubbing elbows too much. Join the Elks Club. It seems to be the place that everybody who's anybody goes to hang at night. Considering what you wrote about yourself, you may also want to look into joining Canoebrook CC or the Beacon Hill Club.

Attorney Review can be extended and regularly is. You as the buyer can back out with cause at just about any time. Don't rush the inspections. If I were you I'd be there to watch and make sure the inspector crawls into every nook and cranny of that house. Ask questions. He is working for you, so make him earn it.

FYI: If you are on one of the Edgewoods, there is a former PSU quarterback living in that neighborhood. I won't give name or address. He was the real deal back in the day.
Also, Fortnightly Club occasionally has a wedding reception go long and loud. So I hope you aren't right nextdoor or across the street.

This post was edited on 3/2 7:45 AM by mikeinsec127