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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 53705
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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I recently put an offer on a house in NJ. I just had the

Customer Question

I recently put an offer on a house in NJ. I just had the inspection and I now want to back out of the contract, but I am not sure if I can due to the wording below:
(D) Buyer's Right to Inspections.
425 Buyer acknowledges that the Property is being sold in an “as is” condition and that this Contract is entered into based upon the knowledge
426 of Buyer as to the value of the land and whatever buildings are upon the Property, and not on any representation made by Seller, Brokers
427 or their agents as to character or quality of the Property. Therefore, Buyer, at Buyer's sole cost and expense, is granted the right to have
428 the dwelling and all other aspects of the Property, inspected and evaluated by “qualified inspectors” (as the term is defined in paragraph G
429 below) for the purpose of determining the existence of any physical defects or environmental conditions such as outlined above. If Buyer
430 chooses to make inspections referred to in this paragraph, such inspections must be completed, and written reports must be furnished to
431 Seller and Brokers of this Contract within fourteen (14) calendar days after the attorneyreview
period is completed or, if this Contract
432 is timely disapproved by an attorney as provided in the attorneyreview
section of this Contract, then within fourteen (14) calendar days
433 after the parties agree to the terms of this Contract. If Buyer fails to furnish such written reports to Seller and Brokers within the fourteen
434 (14) calendar days specified in this paragraph, this contingency clause shall be deemed waived by Buyer, and the Property shall be deemed
435 acceptable by Buyer. The time period for furnishing the inspection reports is referred to as the “Inspection Time Period.” Seller shall have
436 all utilities in service for inspections
Do I still have the right to end the contract?
Submitted: 2 months ago.
Category: Real Estate Law
Expert:  Richard replied 2 months ago.

Hi Katie. My name is ***** ***** I look forward to helping you. Have you met the time deadlines set forth in the language above? Thank you!

Customer: replied 2 months ago.
The 14 day timeframe ends on Wednesday, August 3rd.
Expert:  Richard replied 2 months ago.

Thank you for your quick reply. Yes, you have every right to terminate the contract within the inspection period. Even though the contract is an "as is" contract, the inspection period is to give you the opportunity to evaluate the condition of the property. As long as you notify them within the 14 day period....and make sure you pay attention to the notice provision in the contract as to what qualifies as satisfactory have the unilateral right to terminate the contract and without any recourse to you and are entitled to the return of any earnest money you've posted.

Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (hopefully Good or Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!

Expert:  Richard replied 2 months ago.

Hi Katie. I just wanted to make sure you received my response. On my screen it shows that it hasn't been read so I was worried it got lost in the ethernet somewhere. Let me know if I need to re-send it! Thank you!

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