Saturday, September 28, 2013

5 Essential Things To Remember when buying a waterfront property

5 Essential Things To Remember when buying a waterfront property.

Inspect the property to determine whether others may be using any portion of the land. 

Is there a path across the lot, particularly that extends to the lake?  Does someone other than the lot owner maintain a dock or moor boats on or adjacent to the lot?  If so, further investigation is required to determine the uses being made, by whom, and under what claim of right.

Talk to the lake or homeowner's association. 

Many waterfront areas have homeowner's associations or lake associations that may have valuable information regarding issues that have confronted riparian owners.  Are there current disputes, past issues, that may remain unresolved or understandings regarding rights to use waterfront areas?  Owners of adjacent lots may have similarly valuable information.

Are there any local ordinances that restrict or otherwise control the use of the waterfront? 

Some municipalities have enacted ordinances to regulate docks and the mooring of boats on privately owned waterfront property.

Review documents identified in the title search or commitment. 

If there are covenants, restrictions, declarations or similar encumbrances to which the land is subject, review them.

Learn about the lake. 

If you inspect the property in the winter, you may not know that the bottomlands are mucky and shallow, which may make swimming unpleasant and present a challenge for docking boats.  How deep is the lake? Are there any water quality issues? In addition to local knowledge, much of this information is accessible on-line.
United Country Michael & Associates offers the finest selection of homes, recreational land, waterfront property, wooded acreages, hunting properties, historic property, as well as retirement property. In addition we offer our services to those looking to purchase rural South Carolina real estate such as farms, ranches, small and large acreages.