Buyer Beware!! Look First, Engineer Second, then evaluate your purchase!!|
Buyer's Beware!!! Potential buyer's please read!!!
This question was directed at me during a phone call this past month. I have heard this question for years! So, I am going to keep it onsite as a general warning to all that want to find "a deal" in the Cove!! Since the invention of computers and the internet there have been many Auction sites on the internet that offer great deals on lots in the Cove. Be Careful, IF, it is too good to be true it most likely is!!
The gentleman, who called, asked me, "Why is there such a difference in those prices, listed on the auction, as compared to what you have listed on your website?"
As a local Real Estate professional, in the Cove, I am asked to render an opinion on a lots buildability, almost daily, by people who have viewed these auctions and in some cases have actually purchased lots from these online auctions. It is a heartwrenching position for me or my staff to be put in. You absolutely don't want to tell these folks anything bad, BUT............. I have personally been involved in too many situations over the years where a buyer has purchased online or in an auction only to find they've bought absolutly nothing but airspace. Buyers, PLEASE, Educate yourself!! My staff and I are here to make sure you don't get taken by misrepresentations on the internet, the paper or even by an individual selling property here in the Cove!! Call us first!! There are a lot of properties in the Cove that will never be buildable! THIS IS TRUE!! A majority of the lots you see online are these kind of lots!!! Not always BUT 95% of them are lots that are located on very steep ground not suited as building sites. As real estate professionals we can't tell you that a site is not buildable but we can refer you to an engineer that can represent the facts as they know them. PLEASE DO NOT BUY A LOT WITHOUT SEEING IT OR AT LEAST HAVE AN ENGINEER DO A FEASIBILITY STUDY ON IT!
The answer to the question is that an unbuildable property will always be cheap because the seller is offering nothing more than dirt & airspace in return for your hardearned cash. The property we represent, for the most part, is buildable! The sellers offer the reports and inspections to prove it. If the sellers have not completed any inspections the properties are priced accordingly. We don't want you to buy anything, through our office, unless you are satified that you can complete your future project on that property. The "due diligence" period is a time frame for you, the buyer, to complete many different tests to make sure the property will always be buildable and increase in value well into the future!
In Closing.......... don't buy sight unseen! Don't purchase anything in the Cove without an adequate "due dilegence" period to examine the property. If a seller will not allow you to complete this inspection period........ walk away from it!!
Take Care and God Bless you all!
Vern and Karen Bonham
Shelter Cove Realty
Your Friends in Shelter Cove!