First of all, they need to understand if the system is actually â€œfailedâ€ by the State standard â€“ meaning that it is breaking ground/discharging into public waters, backing up into the dwelling, leaking from the tank directly or leaking directly into the basement of the home. Or did it â€œFailâ€ by the inspection standard â€“ meaning anything from the list above or something as simple as a broken baffle, a damaged d-box or a crushed pipe in the absorption area. Failure by the State standard, typically called a system malfunction, gives the Health Departments authority to force a repair of the system, legally if need be. Failure under inspection guidelines â€“ typically call Unsatisfactory Condition â€“ can require minor repairs to bring the system into its designed condition. With respect to selling the home, escrows are common for repairs in either case. There is no reason that a contract canâ€™t be signed that delineates the responsibility for the repairs at any level. The bigger issue usually arises from the home owners insurance companies requiring a letter of satisfactory operation of the onsite system before they will provide coverage.
So, first they need to figure out if itâ€™s a health issue failure or a simple repair to bring the system back into compliance. Then they need to verify the requirements from their home owners insurance for coverage.... more
I think you were too high before the price reduction in February. I think you need to give the new price more time to generate some interest. Believe it or not, you've really only been on the market 3 weeks at the correct price.
Here's some other miscellaneous troubleshooting: The dining room floors look worn out in the picture. You might want to take care of that or reshoot the photo if I'm wrong. Also the bedroom pictures are not good. Blurry and/or dark. The picture of the rear is not good. It was shot way too close and It makes it look like you have absolutely no rear yard. I'd reshoot the bedrooms and the rear right away.
And finally, to answer your question, the only thing that produces multiple offers is pricing BELOW market value. Auctions and other gimmicks are not likely to cause anyone to overpay in this market. And even if they do, the appraiser will "fix" it during the mortgage application and you will either reduce to market or kill the deal.
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Consider a renovation loan if you can find a good one. I know Bank of America has a good reno loan. A bank is highly unlikely to do that much in repairs. You can put in an offer... what the heck. But, don't get your hopes up.
Oh, and don't (as in DO NOT) do more than $100 of repairs to any property that you don't own; and that's assuming you've got $100 to throw away should something wacky happen... like the seller not really owning the property so they can't sell it to you. That happened on one of my contracts.... more
Many people drive down route 15 to Route 80 to Denville or Dover then take the train the rest of the way. If you prefer to drive. It would be route 15 to 80 then depending if you want Holland, Linclon or GWB you stay on 80 or take 280. There are also comuter buses that leave from Sparta that you can take to Dover(to train) or to Manhattan. You can check out www.njtransit.com for more train info.... more