Legal Mistakes to Avoid When Buying an Ulster County Home
Buying an Ulster County home is an incredibly complex process and, for many good reasons, it has to be. It is a major investment and one that has to be completed in adherence to various laws and regulations if it is to stand and ensure that all parties are happy with the exchange of contracts. However, there are certain clauses and legal mistakes that are relatively common when buying a home and those mistakes could actually massively derail your plans to buy property. Finding out all about these issues will give you a significant advantage when it comes to avoiding them and three of the most common legal issues are outlined here for you.
Watch Out for the Survey Clause
The first common legal mistake that people make is related to the survey clause. A survey clause may be added to a real estate contract prior to purchase. This guarantees the potential buyer an entitlement to an up to date survey prior to completion of the sale. If the current survey is not up to date then the seller would be liable for it and it can cost several hundred dollars. Your real estate agent should provide you with an up to date survey, although the buyer has a right to dispute it. Always consult legal advice before you agree to such a clause though because if it is not the right thing to do then it might cost you thousands.
The second potential legal hurdle is the home inspection clause. It is not so much the presence of the cause that causes a problem but rather the wording of the clause itself because it gives the buyer the right to withdraw any offer that they may have made if they are not satisfied with the outcome of the inspection. This applies to all outcomes, whether they are major or minor repair issues, because the legal loophole remains in place no matter what the issue. If the home has been labeled a problem house or if they have turned down offers then this can be a significant problem for sellers although it does protect buyers. With this in mind, you should ensure that adequate protection is in there for both parties, thus giving sellers a chance to repair any problems and correct structural issues and only a failure to do so gives a buyer a chance to pull out of the offer.
Legality Surrounding Swimming Pools
Finally, the swimming pool clause is the third issue that is problematic in legal terms. There should always be a clause that addresses any swimming pool that is on your soon to be property. There should be a specific warranty included in the contract to guarantee that the pool is in good working order prior to closing. This essentially guarantees the structure and offers protection for the buyer but ensures that the seller has no obligation after the property deal is closed and the sale is completed.
The best way to recognize and avoid these issues is to hire legal professionals who have significant experience in the industry and so are able to take care of them for you. Real estate professionals and legal professionals will take care of your best interests and make sure that the home buying process is as smooth as possible.
Tips for Ulster County Home Buyers
If at any time you have questions about buying real estate in Ulster County or the surrounding area, please don’t hesitate to contact Dylan Taft, Principal Broker/Owner, Taft Street Realty, Inc. - 845.687.9292 office or 845.380.3394 mobile.