Am I obligated to buy the home in "as is" condition if I don't like the inspection results?
You, the buyer, can withdraw your offer on the property in question until the seller has accepted your offer. You must cancel with written consent though to be free from any kind of obligation of legal binds. After the offer is accepted, however and you breach the contract a seller can sue to claim commission recovery cost, under the Real Estate Law of New Jersey.
When Should You Make an Offer?
A potential buyer should make an offer based on all the information presented to them and take care to understand all aspects of the contract and all other legal documents. They should pay particular attention to the home inspection; ensure the constructional integrity of the house, and financial obligations and related matters. If you as a buyer are not satisfied with all the necessary issues in the contract then you may quit the contract at any time and not make an offer.
However if the terms and conditions that you have submitted are different or opposing to the terms that the seller submits, then the seller can consider your terms as a counter offer. There is a chance for you and the seller to reach an agreement through negotiation and arbitration. It is important and helpful to consult a real estate lawyer to ensure that the legal requirements of contracting are met and so you can be represented by someone with your interests and choices in mind. They can also guide you accordingly and make sure you are equipped with all the correct information for the sale of your house. Joseph M. Ghabour & Associates can do all of this for you and provide you with the experience and legal expertise necessary to ensure your requirements and needs are met.