How to proceed
Soliciting suggestions to resolve a situation I am in. We are in the process of buying 10 acres of land (9 acres is wetlands) in NJ.
In 2001 there was a 20 acre parcel which the owner subdivided and subdivision was approved by the township. It allows for two homes on each of 10 acres. First 10 acre parcel was sold in 2006 (owner bought it outright, without waiting for any permits and was able to build a house in 2008).
We signed a contract (last week) contingent upon getting the building permit. When I talked to the Architect - He mentioned it could take up to 6 months to get the permit. He does know the town well as well has experience building near wetlands.
Steps involved according to him:
Draw house plans - up to 2 months
Surveys, Plot plans and such - couple of weeks.
Then start applying for various govt permissions like DEP, soil disturbance and a couple more that I don't recall.
My Lawyer conveyed this to the seller yesterday and seller refuses to give more than 30 days for everything.
I am sure there are things that can be done on my end to shrink the "up to 6 months" interval but no chance of shrinking it to 30 days.
Any thoughts/comments as to my options besides walking away from the deal. Of course, I could also buy it outright and take the risk but both my Architect and the Engineer strongly recommend that I should wait for the permit. These are the same two guys who built the neighboring home.
Thank you so much in advance for your comments.