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Lake Property - What to look for?

1,208 Views | 3 Replies | Last: 6 yr ago by schwack schwack
Corps_Ag12
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AG
Looking at purchasing a lake property & I found a few I'm interested in but am curious in regards to financing terms for the following situations:

- raw land on lake/cove
- land with mobile home that has been made permanent with additions, VERY nice dock. On lake cove
- land with permanent structure & dock

If it matters, looking at lake granbury.

TIA
evestor1
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I'm experienced with this!

It is the same as any other purchase...what are the comps. I'm not sure on trailers though.

With that said, I once had a particular property appraised 3 times. Once at baseline, second at .66 baseline, and third at 1.5 baseline.

Lake property is unique. Pic a good realtor and they will help you with their experience.
redass1876
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AG
Take a good hard look at all deed restrictions before you get too deep into this one
Martin Q. Blank
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Quote:

Lake Property - What to look for?
FEMA maps
schwack schwack
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AG
This has nothing to do with financing, but find out how low the water level went a few years ago during the big drought. Try to buy on a spring fed lake if possible - we did & it was down during that time, but be could always get in & out of the boathouse.

edit to note: once the water came back up in other lakes, we saw tons of properties that had no water at their docks go up for sale....
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