Timeline For New Jersey Realtors Standard Form Of Real Estate Sales Contract (Page 2 of 4) in pdf

________________ Buyer has 10 calendar days after Contract is finalized to order inspection

and/or risk assessment for lead-based paint and/or hazards. If inspection

and/or assessment indicates that lead-based paint and/or hazard present, then

Buyer has 5 calendar days to deliver report to Seller and Brokers. Section

16(C)

_______________

Seller has ____________ days after receipt of report or amendment to

Contract from Buyer to agree or send counter-proposal. Section 16(C)

_______________

If Seller offers counter-proposal, Buyer has ___________ days after

receipt to accept or Contract is void. Section 16(C)

PRIVATE WELLS

________________ If Property has water supply provided from a private well, Seller

must provide Buyer with test results within 7 calendar days after

Contract is finalized. Section 17(A)

________________ If any water tests do not meet applicable standards, Seller has 7 calendar

days to agree to cure or correct, or Buyer can void Contract by notifying

Seller within seven 7 calendar days thereafter. Section 17(A)

________________ If Property has POET system installed and maintained at the expense

of the Spill Fund, Seller must notify DEP of sale within 30 calendar

days of executing Contract. Section 17(B)

CESSPOOLS

________________ If Property has cesspool that Seller agrees to replace, Seller must deliver

to Buyer Certificate of Compliance at Closing but, if fully compliant system

cannot be installed at Property, then Seller must notify Buyer in writing

within 3 calendar days of receipt of such notice to install either a non-

conforming system or a permanent holding tank, and Buyer may void

Contract within 7 calendar days thereafter. (If Buyer or Seller becomes

aware of a cesspool prior to Closing, that party must promptly, but in no

event later than 3 calendar days after becoming aware of the cesspool, advise

the other party about the cesspool in writing and the parties then will have 7

calendar days to determine how to proceed.) Section 17(C)

RADON

_________________ If Property was tested for radon, Seller must provide Buyer when Contract is

executed with the test and evidence of subsequent radon mitigation or treat

treatment but, in any event, Buyer has the right to conduct its own radon

inspection/test within 14 calendar days after Contract is finalized.

Section 18(B)

New Jersey REALTORS

Timeline 9/15

Timeline For New Jersey Realtors Standard Form Of Real Estate Sales Contract Page 2