The goverment is using it and many other huge company’s. This is not just some fly by night company or product. This is the real deal.

Well, the listing agent told me that she’s talked to the county about other houses and claims they won’t enforce it. Uh huh. And the sellers are splitting for Central America as soon as they sell. I have very little faith in either of them disclosing anything.

Poorer but Wiser

But not disclosing what they already know opens both the seller’s and the broker to lawsuit. Of course it must be proven but there is a written record.
KL

Glen Ridge is a nice enough town, and the house looks nice, and has clearly been updated very well but 675 (or even 635K) for a 3 bed/2 bath on 1/8th of an acre, 80 years old ? Still seems high

talk about some in denial folks. their logic would seem to be see if we can get another buyer in here who won’t do such a thorough job on the property heck even waive the inspection!

A day later they RAISED the price by 10K to 439,500!”

Great story, sounds like a real nightmare.

Got some popcorn handy?

Stone bank house in Holland Twnshp.

Listed 8/30/05 at $429,500. 2 bedroom stone bank house on 2.86 acres (beautiful lot, but unusable). The house is tiny, and due to the topography, cannot be expanded. It does have a 2 car garage with studio space above it – heated and electified, and has a HB. But it’s again, a 2 bedroom. We’re talkin niche property.

Sellers received 1 offer in late Sept – $409-ish. Rejected.

Sellers didn’t receive another offer until late January – $382K. Sellers countered at $420. Potential buyers laughed and left the table to wait them out. (Thorough analysis indicates asking price is way high)

Open houses every weekend – nothing. Realtor calls the January folks 3 weeks later and indicates sellers facing reality. January buyers place another offer, and come to an agreement on 395. A generous offer.

Sellers hold up Attorney review period for 2 weeks by refusing any written acknowledgement of a decommissioned underground oil tank that the sellers had disclosed on their disclosure statement! Buyers had confirmed with the county and faxed the closure certificate to sellers, who still insisted on un-knowing about it. Provisions for soil testing were made, if buyers could theoretically locate a tank.

Home Inspection, Septic, and soil testing arranged to occur simultaneously.

H.I. results – needs a new roof, electrical work, deck, joist in garage need sistering, and radon results come back at 15.3! (standard is below 4).

Septic fails – absorption field is cooked. (Existing location is right next to creek classified as ‘impaired’ by the EPA for excessive levels of fecal coliform). Sellers (wife wearing the pants) freak out on septic inspectors and the buyers -”That’s it! We’re done! We’re not moving! The system’s always worked fine for us! See what you’ve done? You HAD to have this done, didn’t you!!!”. Um, ok.

And yes of course Hunterdon Cty has a copy of the report and open case on it.

Sellers calm down the next day and email buyers directly asking for help – listing indicated flood insurance required, but buyers flood cert came back saying it’s not. Since the sellers will need to take out a home-equity loan to replace septic for the buyers, it would really help if they didn’t need to get FI to obtain the loan. Buyers are glad to help out, and send the doc.

At the appraisal (which wasn’t even close to sellers asking price, btw) sellers say that the think the septic inspectors were just trying to sell them a new system and have decided to get a second oppinion. (Can you say “Denial”? Yes, I thought you could).

2 days later the sellers respond via their attorney that they refuse to do anything about ANY items on the list, and would make a decision on the septic after their inspection.

Later that week the realtor informs the buyers that the second test failed as well, and that the sellers were going ‘full steam ahead’ on getting an engineer in. Also indication they’re getting estimates on the other items they’d said they wouldn’t do.

2 days later buyers attorney notified that sellers will not make any repairs to the septic, or anything else, in connection with the deal – no negotiations, no nothin’! Forces buyer out a month before closing!

So let’s see – sellers facing septic replacement that will have to be an uphill, pumped affair ($25K roughly), a new roof, a new deck, radon mitigation, significant electrical work. Sellers had planned to retire to central America upon the sale, and are looking at a net of 75K less than they’d figured. So they forced the buyer out.

Then 2 days later they reactivated the same MLS number – updating the Flood Ins Req to ‘No’.

A day later they RAISED the price by 10K to 439,500!

Caveat emptor, indeed!!

Cheers,
Poorer but wiser.

http://newjersey.craigslist.org/rfs/146686110.html

This condo was on the market in the fall, FSBO, for 629. With no takers, he took it off, and relisted in Feb. for 599. With no takers still, he gives it to a realtor, who expects to sell it for 650. Seriously, if someone buys it for 650, I will not know what life if coming to. But I will know that they didn’t follow the market.

Plus, no parking, in Hoboken. No thanks.

http://newjersey.craigslist.org/rfs/145002674.html

Yes, I agree, but when was the last time you saw a house like that in a nice town for $900K? 4 years ago?

Just sayin’.

http://www.idxlistings.com/detail.cfm?listnum=2604805&id=756&CFID=5375492&CFTOKEN=65705601