Step 14 - What is the Attorney Review/Inspection Period?

What is the Attorney Review and Inspection Period

Now that we've got a contract in place and the earnest money has been dropped off, we're officially in the attorney review (in NJ) and inspection time contingency periods. So, what exactly does this mean?

During this time, you'll conduct the inspection and negotiate any issues that come up during the inspection. It's important to keep in mind that you must conduct any inspections AND request any repairs from the Seller within your contingency period (typically within 10-14 days after the execution of the contract (in PA) or after attorney review ends (in NJ). The Seller has 3-7 days to respond (the exact timeline is outlined in the contract). Sometimes they get back to us quickly, while other times it might take the entire period, especially if they need to gather estimates for repairs before they give a response.

The other important piece of the inspection process is if the inspector recommends a professional or expert (i.e. roofer, electrician, plumber, etc) to further examine the home, it is the the buyer’s responsibility to hire and pay for these professionals. It is always best to get these inspections scheduled right away so you can ensure it gets done during your inspection contingency period.

(In New Jersey) In addition to the inspection, the attorney will review the contract and negotiate any changes they feel are necessary. If you're purchasing a condo, this is also when you will review the building's condo docs, including their budget, Rules and Regulations, meeting minutes, and more. Typically, this period lasts around 7-10 business days, but it's always a good idea to double-check the exact timeframe as negotiated in your purchase contract

If we're unable to complete everything within the agreed-upon timeframe, the attorney can request an extension of the attorney review or inspection period. If you do not have an attorney representing you, as your real estate agent, I can request an extension for the time inspection period only.

If you have any questions or need further clarification, feel free to reach out to us anytime. We're here to help!

Let me know if there's anything else you need assistance with!