Due to the patchwork of private and public lands, buying real estate inside the Blue Line of the Adirondack Park may seem like a different beast than buying property elsewhere. However, the process is really pretty similar. With the exception of a few items that may need some extra awareness and attention, when considering how to buy property in the Adirondacks, it’s business as usual if you keep the park’s large geographic area and unique characteristics in mind.
Throughout the park, prices, properties and acreage can vary greatly between regions and communities. Working with a local real estate agent can help you navigate these differences and get to know the in’s and out’s of buying property in this one of a kind area. At Adirondack Premier Properties, our agents live and work in the Park and have decades of experience closing sales for buyers.
Read our expert tips below to help guide your journey of buying property in the Adirondacks.
Top 7 Tips for How to Buy Property in the Adirondacks
1. Do Your Research
As stated above, the Adirondack Park is a large area consisting of over 6 million acres. Within the park, 92 different towns and villages are called home by Adirondack residents. Doing your research to get to know the characteristics of different regions and locales is essential to figure out which communities are ideal for you.
Some towns have the feeling of a quiet, tight knit community while others are bustling and busy with tourists and visitors year round. The overall personality and tourist orientation of the town can affect the price of homes. A comparable home between different towns can come in at very different price points. Generally, more popular and notable communities in the Adirondacks will have a higher price point than smaller outskirt communities.
While doing research from home is a great starting point, we suggest scheduling time to visit communities in person. Walking down Main Street and meeting people is the best way to really get to know an Adirondack town as they are all so different. Hours on the computer surfing listings will net much less insightful information than the time you spend exploring a community in person.
After visiting and doing your research on individual communities, be sure to reach out to a bank or lender if you plan on taking out a mortgage. With pricing varying so much between communities, knowing what amount you are pre-qualified for can help narrow down your search area quite a bit. Your loan amount will help you determine what price point you can afford, and help you fine tune communities of interest on your list. Having a pre-qualified letter with a concrete number can help a real estate agent find properties that fall within your budget.
Additionally, if you find something you like, being pre-qualified can help you move forward more quickly in your search. Most properties require a pre-qualified letter before you can schedule a showing, so doing that legwork up front can help you avoid delays and headaches as your search progresses.
2. Contact A Real Estate Agent
When considering how to buy property in the Adirondacks, one of the most important steps to take is enlisting the help of a qualified local real estate agent. Some people think they can save money or get by ok without using a real estate agent, but having a professional on your side can open up resources and information throughout the process that you wouldn’t have otherwise.
Real estate agents are in the field every day, and very knowledgeable on current market trends, listings and processes to move your sale forward. With an ear so close to the ground, they may even hear about potential new properties before they are listed. Convenience and availability are also a benefit.
Local real estate agents are generally available throughout the day. If you are out of the area, they can do a video walk through or get questions answered quickly about the properties that interest you. They also often have added insight on potential properties. They may have already been involved with a property and been inside it to gain familiarity. Or they may have knowledge of upcoming availabilities due to a deal that fell apart. This on the ground knowledge is irreplaceable as you go through the buying process.
3. Place an Offer
Once you have found a home that interests you, it’s time to put an offer on the property. Your offer should include any contingencies you are requesting in order to complete the sale. Some common contingencies typically involve mortgage, structural, septic or water quality criteria.
The Adirondacks is a unique place to live, and there can be some challenges with properties that are particular to this climate and real estate market. Knowing the market, what problems typically turn up, and what contingencies are often requested is important.
Also important is anticipating a back and forth period that involves counter offers from the seller. Having a local real estate agent in your corner during this process can make everything go smoother and help you move forward with a higher degree of comfort.
4. Hire an Attorney
After you place an offer, your next step is to find an attorney to handle the closing process once the offer has been accepted. This is another area where your local real estate agent will be able to help you understand differences in how to buy property in the Adirondacks.
Inside the Blue Line, properties can have different zoning and regulations if they fall under the jurisdiction of the Adirondack Park agency. Attorneys from outside the area may not understand the nuances of these regulations. Finding a local attorney who is familiar with APA processes can help your sale keep moving forward without critical issues.
Asking for attorney referrals from a real estate agent can also help you find the best professional to meet your needs. Agents will generally be familiar with the attentiveness and workflow of various attorneys, and can recommend someone to provide you with the best service moving forward.
5. Seek Acceptance of Offer
With your offer in and an attorney lined up, it is time to get the Acceptance of Offer. Once you have come to an agreement with the seller, the attorney that you have carefully chosen will draw up a Contract to Sell. Both parties will then sign this document.
6. Perform Any Contingencies
With a contract signed by both parties, it is your job to schedule any contingencies laid out in the contract that fall into your area of buyer responsibility. These items will generally be time constrained, and you must complete them within the required time frame to keep the process moving forward.
This is another area where your local Adirondack real estate agent can come in handy. They can assist you in making sure that all of the contingencies are being met so you can close in a timely manner. They can also refer you to local professionals, like home inspectors, who can assist with the process.
7. Close On The Property
Once the contingencies have been met and the title has been cleared, your deal is ready to close. When all paperwork has been completed, your attorney will reach out to schedule a closing date. At closing, you will sign the closing documents, pay your down payment and complete the services. Lastly, you will receive the keys for your new property.
Before signing everything, be sure to view the property 24 hours before the closing. This is another stage in the process when you can enlist the help of your real estate agent to ensure that everything agreed upon has been completed before closing.
Learning how to buy property in the Adirondacks can seem overwhelming due to unique qualities of the region and added regulations attached to some properties. However, an experienced local real estate agent can make all the difference in your Adirondack real estate purchase. Contact a knowledgable local agent early in the process to make sure that each step is executed as efficiently as possible.
At Berkshire Hathaway HomeServices Adirondack Premier Properties, our forever agents live and work in the Adirondack Park. They know the communities well, and also know how to close real estate deals smoothly and efficiently inside the Blue Line. Contact us at 518-523-3333 to start your Adirondack real estate search today!