MANHATTAN TOWNHOME REAL ESTATE ATTORNEY

Why You Need An Attorney For Your Manhattan, Westchester, or Southampton Townhome Purchase?

The decision to buy a home is a big one. Whether you have been saving for years, want to relocate, or are looking to expand your investments, the real estate market presents a fast-paced and exciting process. While different styles of homes work for different people, a townhome is a popular option for many buyers. Townhomes are often more affordable, making them great options for vacation homes, second homes, and starter homes. Especially for families here in the Northeast, townhomes can be a way to get increased square footage and amenities without having to handle the upkeep of a freestanding structure.
Before you buy or sell a townhome, it is important to understand the significant legal consequences of owning or selling such a property. While a real estate agent will be able to tell you details about your specific property, our firm’s job is to advise you on the legal terms of your contracts and disclose the potential financial and physical hazards of townhomes.

Space Disclosure

Though townhomes provide private areas designed only for you and your family, it is important to remember that a lot of the building is shared access. Yards, gardens, lawns, courtyards, and other outdoor spaces may be shared with other residents. Though this may not be a dealbreaker for you, it is important that your contract reflects the space that is your property alone.
It is not uncommon for a family to see a unit and assume that they own more space than they do. You don’t want to move in only to discover that the outdoor space outside of your master bedroom is not, in fact, a private yard but a space that your neighbors can use, too. You will also have to clean and maintain certain areas, while other areas will be maintained by

the complex. These parameters should be spelled out in your mortgage contract, but they are not always clear. We can review these documents for you and explain exactly how much space you are getting andwhat you are responsible for maintaining.

It is not uncommon for a family to see a unit and assume that they own more space than they do. You don’t want to move in only to discover that the outdoor space outside of your master bedroom is not, in fact, a private yard but a space that your neighbors can use, too. You will also have to clean and maintain certain areas, while other areas will be maintained by the complex. These parameters should be spelled out in your mortgage contract, but they are not always clear. We can review these documents for you and explain exactly how much space you are getting andwhat you are responsible for maintaining.

Homeowner Association Fees

Most townhome complexes have homeowner association fees associated with living there. The terms of these agreements should be clearly spelled out in your paperwork, including how much the monthly fees are, terms for payment amount changes, and what the fees cover. These agreements exist so that tenants can rely upon certain services to be taken care of for them. However, the terms of these fees are not always fair.
Many complexes try to gouge their tenants for money or write in clauses allowing for unreasonable fee increases or unclear service terms. Without an attorney to review your paperwork, you can easily sign up for HOA fees that give you very little for your money or that could even leave you in a vulnerable position down the road. It is best to understand what you are paying for to take proper legal action if the complex is not upholding its end of the agreement.

Failure To Disclose

Real estate agents are obligated to disclose certain information to buyers before the sale is complete. The disclosure criteria vary from place to place, but generally, a real estate agent or seller should disclose:
  • Toxic substances found on the property
  • Environmental hazards like flood areas and landfill proximity
  • Known leaks, smoke, fire, pest, or other damage
  • Utilities, water source, and water quality
  • General information about the home, including size, price, age, etc
If a real estate agent neglects to disclose any of the above information to you, they could be misleading you into making a purchase that you otherwise wouldn’t have. Your real estate attorney can help review your documents and ask pertinent questions of your real estate agent. If the agent has already misled you, we can help you to take the next legal steps.

Pressure From a Real Estate Agent

Real estate agents have a duty to remain impartial in their clients’ decision-making processes. Though he or she may voice an opinion of whether a home is nice or suits a client’s wish list, they should not push clients to make a purchase before they are ready or are not sure about the home. This can be especially problematic when it comes to townhomes. Because townhomes are a specific kind of property with restrictions, fees, and close quarters, pressuring a client to purchase when they haven’t weighed all their options can be especially financially damaging. For townhomes owned by development companies, real estate agents may feel undue pressure to move units. To avoid excess pressure during this process and ensure that a townhome is right for you, hire a real estate attorney to protect you.

Legal Roadblocks

When you hire a real estate attorney to help you in your buying or selling journey, you are preparing yourself to tackle any legal roadblocks before they arise, and they will arise. Most real estate transactions have legal hiccups at one time or another. Traversing them without proper representation can slow down the process or even make the transaction fall through altogether. When you have a real estate attorney on your side, you are doing your best to prevent problems, as well as protecting yourself for when they do happen.

Your Attorney Is On Your Side

It can be helpful to remember that your attorney is required by law to keep your best interests at heart. This can be especially reassuring when buying a townhome, especially in the high-priced neighborhoods of Manhattan, Westchester, or Southampton. With an Avenue Law Firm real estate attorney, you have a legal-sounding board with you every step of the way. You can be assured that we will watch out for your best interests, making your closing experience stress-free.

Avenue Law Firm Looks Forward

At Avenue Law Firm, our goal is to create innovation in the world of real estate law. Using cutting edge methods, digital systems, and forward-thinking tactics, we create an upscale real estate experience for all of our clients. Whether you are buying in the city or on the beach, at Avenue Law Firm, we have you covered.