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Okay folks, need some advice. For two years now, we've been looking for property but here's the rub - it's a very specific type of property we're looking for. Waterfront with acreage and in a specific area in the Charleston metro. This does come up, occasionally, in my area but it's somewhat difficult to find searching traditionally (aka MLS). In that time, we've found one property for sale that met the criteria but it ended up being an estate sale with the 'descendants' being split on selling the property so it amounted to nothing.
Thus, would it worthwhile for us to try alternative methods? I know in some locations people will approach homeowners who are not listed to see if they would be interested in selling. Should I try that or is there some other creative option we have not considered?
I have considered raw land on which we could build but the price of that seems to be much higher than an existing home since there's so little of it left on waterfront acreage. At this point, I need some ideas because I am getting a bit tired or searching for something that seems to have almost no turnover in our area.
Some data points:
Location: Charleston SC metro area (south of CHS - Ravenel, Meggett, Wadmalaw Island, Johns Island)
Price: Up to $1.3 million
Acreage: At least 20 acres
House: Not particular - we will likely undergo a remodel upon buying
Waterfront: Riverfront, Deep water, Shallow Water if it has some water at low tide (our tides can swing 6 feet). Not interested in fresh water.
You can research the names of the home owners, price paid and date and a host of other information through the online County Tax Assessor's Office. You can then send a letter or other to those people stating your case and interest; perhaps,
"Would you like to save $65,000 on the upcoming sale of your house?" --- etc. -- Nothing to lose, but, a little postage and time.
I know in some locations people will approach homeowners who are not listed to see if they would be interested in selling. Should I try that or is there some other creative option we have not considered?
A family member had a very small group of location specific properties that he was interested in purchasing (he wanted waterfront property on a specific beach cove,) and wrote down every single mailing address of each one of them. He then wrote every owner a personal letter. Some of them wrote back offering a sale with somewhat competitive offers to sell, but upon closer inspection, the houses weren't satisfactory. A couple of them wrote back with "Make Me Move" prices. One property he is still interested in, but they are trying to resolve some clouded title issues. So it might work for you!
If you have the option for raw land I woudl take that route in a heart beat as long as the cost of the raw land was not a total fleece. I have seen raw land options in my area that did not have ANY connections going for the cost of single family homes. Yea it was nice land but not that nice.
You can research the names of the home owners, price paid and date and a host of other information through the online County Tax Assessor's Office. You can then send a letter or other to those people stating your case and interest; perhaps,
"Would you like to save $65,000 on the upcoming sale of your house?" --- etc. -- Nothing to lose, but, a little postage and time.
20 acres, water front, in a metro area for 1.3M. Is property really that cheap there? You can put 40 homes in 1/2 an acre and sell them for $300,000 and make 6 million after cost. I can see your problem in trying to find something.
Look at the local GIS maps. Click the large lots you like, and it will list the details, acreage, owner and address on record. Send them each a letter.
If you have the option for raw land I woudl take that route in a heart beat as long as the cost of the raw land was not a total fleece. I have seen raw land options in my area that did not have ANY connections going for the cost of single family homes. Yea it was nice land but not that nice.
Yes, seems to be something that happens here as well. The area where I am looking is mostly farms, near rural, I think you could say. However, raw land is somewhat rare and as a result, the prices for that land seem to be much more expensive than land that already has a home on it - at least for anything waterfront.
20 acres, water front, in a metro area for 1.3M. Is property really that cheap there? You can put 40 homes in 1/2 an acre and sell them for $300,000 and make 6 million after cost. I can see your problem in trying to find something.
The area I am looking at is mostly farms even though it's not too far from town. If I was looking one island over, for example, the cost could easily be 10x that for the same sized land on water. There simply hasn't been much turnaround in the area I want but for what I'm wanting, the price point seems pretty much on track with some exceptions for the small amount that has been sold.
A family member had a very small group of location specific properties that he was interested in purchasing (he wanted waterfront property on a specific beach cove,) and wrote down every single mailing address of each one of them. He then wrote every owner a personal letter. Some of them wrote back offering a sale with somewhat competitive offers to sell, but upon closer inspection, the houses weren't satisfactory. A couple of them wrote back with "Make Me Move" prices. One property he is still interested in, but they are trying to resolve some clouded title issues. So it might work for you!
Quote:
Originally Posted by 399083453
Look at the local GIS maps. Click the large lots you like, and it will list the details, acreage, owner and address on record. Send them each a letter.
Yes, I've thought of doing that. Wasn't sure it would be something anyone would bite on or not. Wonder if it would be better coming from my realtor versus just me?
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