Legal Question in Real Estate Law in New Jersey

Re: legal rights settlement

You must immediately advise the seller in writing of these problems and request a written resolution that will correct the defects to your satisfaction prior to settlement. If you have a realistic idea of the cost of correcting these problems, based on written estimates by reputable contractors, resolution could include giving you a credit at settlement in the total amount of the cost, or holding that amount in escrow out of seller's proceeds to be used to make the corrections. I assume that you have ordered title insurance. Title companies will often hold escrows in such situations.

However, your mortgage lender may not approve any such arrangements and you would not be able to complete settlement.

If you complete settlement without getting a resolution of the problems, you will have no recourse.

You should engage an experienced real estate lawyer in or near the county where the property is located to represent you in presenting this issue to the seller, to document any agreement between you and the seller, to assist you in getting the problems resolved, and to represent you at settlement.

My NJ office is located in Collingswood [Camden County].