Offer to Purchase - Buyer Safety.

[Illan]

What is the name of your state (only U.S. law)? New Jersey.

Hi all,

I'm in the process of purchasing a mix-use property. (Paying Cash)

Would just like to know what are some good points to have on the "Offer to Purchase" document, before I sign it.

Currently, its pretty straight forward right now:


Contingencies

Due Diligence: Buyer shall have 10 days to complete their due diligence inspections.

Condition: As Is/Where Is.

Title: Seller will deliver a clean and marketable title.

Financing: This offer is non-contingent upon the buyer obtaining financing.

Closing: Shall take place no later than 45 days after the effective date of the contract.

Thank you!

 

[Zigner]

What is the name of your state (only U.S. law)? New Jersey.

Hi all,

I'm in the process of purchasing a mix-use property. (Paying Cash)

Would just like to know what are some good points to have on the "Offer to Purchase" document, before I sign it.

Currently, its pretty straight forward right now:


Contingencies

Due Diligence: Buyer shall have 10 days to complete their due diligence inspections.

Condition: As Is/Where Is.

Title: Seller will deliver a clean and marketable title.

Financing: This offer is non-contingent upon the buyer obtaining financing.

Closing: Shall take place no later than 45 days after the effective date of the contract.

Thank you!

Your request is beyond the scope of this forum. It would be wise for you to have this matter reviewed by a local attorney.

 

[FarmerJ]

Is that property old enough that it could have had lead based paint used on it? (is the water main copper or a ancient lead pipe line? and will it be disclosed to you ? , does this structure have any furnace ductwork that has what appears to be asbestos on it or the furnaces or boiler or boiler pipes covered with old possible asbestos materials or very old floor tiles that may have had asbestos ( will that be in a disclosure to you especially if mixed use means apartments like how old stores often have them above? ) did this building ever have old oil tanks on site ? (if it did this should be disclosed to you as well as if it at one time was rural enough to have private well or septic was well properly sealed when it was taken out of service and what was done to fill the old septic tank (s) if property had one?