Named in 2005 by Money Magazine as one of the "Top Ten Places to Live in the US", 'The Chathams', named for William Pitt, the Earl of Chatham, are located 25 miles west of New York City in Morris County. The Chathams were divided into Chatham Borough and Chatham Township in the late 1880’s. Chatham Borough occupies approximately 2.4 square miles with more than 8,000 residents and boasts an active downtown area including charming shops and award winning restaurants. Chatham Township, once known as a farming community, covers approximately 9.2 square miles and is home to over 10,000 residents.
The Chathams offer many fine homes, Victorians, Colonials, Ranches as well as garden apartments and condominiums. The Chathams have separate municipal governance's but also share meaningful resources, such as a highly ranked Regional school system and newly expanded library. Chatham's convenience to Route 24, as well as train and bus service to New York’s Midtown and Downtown areas makes it a desirable home for many commuters.
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Disclosure Laws >What Sellers Might Disclose
Most states require a home seller to provide the buyer with some type of disclosure form. What might the seller have to disclose?
A Residential Property Disclosure Form requires the home seller to disclose facts about the home's heating, wiring or plumbing systems, including any defects that may exist, such as leaks in the roof or cracks in the foundation. If something in your home is not working properly or needs repair, you will need to either fix it or disclose the material defect to the prospective buyer. There are other disclosure forms, unique to each local area, that require sellers to disclose negative environmental factors or local building code issues. A lead-based paint disclosure form is required for homes built prior to 1978.
State legislatures and courts all over the country have passed laws regarding concealing defects from an agent or buyer. Ask your real estate agent about your obligations as a seller regarding disclosure.
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What areas are known as the 'silk stocking' districts of this famous city?
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In Central Park West, Fifth Avenue and Park Avenue in Manhattan, apartments go for $222,610 to $282,709 per room. |
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