Hudson Valley Parent

HVP April 2019

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22 Hudson Valley Parent n April 2019 restrictions might have rules on clotheslines or parking such as no trailers or limits on the number of pets allowed. An attorney should highlight these restrictions for the buyer who otherwise may not be aware of them. Duquette says, "Buyers need to ask themselves 'What do I want to do with this property?'" Steven Diamond, a former realtor who now practices law, specializes in real estate planning with Stenger, By OLIVIA L. LAWRENCE L eigh Quintana, a real estate agent with the Century 21 office in New Paltz, and her husband have three children, ages 4, 8 and 10. She knows the drill from personal experience on how tricky it can be to find and obtain the right place to call home. After a setback on their first choice, the couple settled on a raised ranch that needed work but was in the neighborhood they wanted. "We know it isn't our forever home, but it's working well for our family for now and is a good investment for the future. That was a practical choice, but purchasing real estate is often a highly emotional experience and those new to the process need to do plenty of homework. It's a hot real estate market in the Hudson Valley right now, according to Quintana. That means young families, often first-time buyers, need to be prepared and ready to jump in when a property they're interested in shows up. Pay attention to the little things "There's always something that comes up," says William Duquette, an attorney and senior counsel who practices real estate and banking law with Jacobowitz & Gubits. One category that may come with a few surprises are subdivisions, condominiums or other communal associations that may have private restrictions over and above those covered by local zoning. "They're all a little different," he says. For instance, private Roberts, Davis & Diamond, LLP, located in Wappingers Falls. He recommends paying attention to every day conveniences as you assess potential homes. "It might be as simple as how far is parking from the door, which could be a hassle when you're carrying groceries," he points out. Or there may be rules about parking a commercial vehicle or that forbid changing the oil in your vehicle. Those types of restrictions may not suit your situation. Inspect before you commit Duquette advises buyers to take inspection reports seriously and address issues before making a commitment. Perhaps an inspection raises mold as a potential problem and the buyer doesn't pursue that concern with the sellers and their agent. "That's a mistake. You should always have problems further investigated," Duquette says. Another big issue that may be downplayed is underground storage tanks for home heating fuel. "It can be an environmental nightmare," Duquette insists. "You can have it tested and still not know if there will be problems. Even if an inspection reveals no leakage, there still could be some or it may develop later." While costs to remove before a problem is identified are around $1,500 to $2,000, once there is leakage into the surrounding soils, clean-up of the contamination cost can get into the $50,000 range. "You want the current owner to put it above ground," Duquette says. "Once you own the property it's your problem." 4 things you should know before you buy a home Experts provide the inside scoop Lindsay Stevens (not pictured), realtor with Stevens Realty Group, says a realtor's job is to help young couples understand what they are getting themselves into. She says many first-time home buyers make the mistake of overextending themselves. (Continued on Page 24)

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