When you have decided the time is right to purchase your very first home, you may find a property you love and eagerly want to make your offer to the seller.
However, before moving too quickly, you should learn about the different things that may impact how you or others use the property or the land around it, including an easement.
Easements and home sales
Most people understand that easements have something to do with granting access to a property or a part of a property. Realtor.com explains that some easements transfer with each sale while other easements do not. The former, called appurtenant easements, connect to the actual property and exist regardless of who owns the property. The latter, called in gross easements, essentially reflect agreements made between individual parties and end when a property sells.
Access or activity granted by an easement
Different types of activities or access may be allowed due to an easement. Utility company workers frequently need to access a property to read meters or conduct maintenance or repairs. A utility easement allows this to happen.
Allowing public access to specific locations, such as a park or lakefront, may be possible due to a right of way easement. The driveway from a street may eventually lead to multiple homes, representing another form of easement. When multiple homeowners share this type of access, potential buyers should learn their responsibilities for the upkeep of the area.
More information about the different details you should learn about prior to purchasing a residential property may be found on the home buyer’s page of our New Jersey real estate website.