A vacation property purchase is likely to be one of the biggest investments you will ever make in your lifetime; and, we take the purchase of your lake, river or stream property as seriously as you.
Wisconsin Waterfront Dreams will walk you through every step of the buying process: researching, looking, comparing, and finally making the offer to purchase, negotiating, financing, and closing. It is our goal to provide you with all of the important information that will help you be a more confident and decisive property buyer, and eventually owner.
You may buy several houses over the course of a few years, but you are likely to only buy one lake, river or stream property over the course of a lifetime. Vacation properties are often kept in the family for generations.
We understand that there will be many questions along the way, and we will always be available to find and provide you the answers to those questions. Our real estate service doesn’t stop when you find the right property to buy; we are your vacation property specialists for life.
Please contact a Wisconsin Waterfront Dreams Real Estate Realtor and get started today.
Steps to Buying Waterfront Property in Wisconsin
Lake, River, Stream Property Buying Steps
Whether buying for future retirement or for a vacation property, purchasing waterfront property can be one of the most rewarding and one of the best investments ever made. However, when most people begin the process of looking for recreational property to own they need some direction in how to get started. Here are some key steps to successfully finding and buying waterfront property.
Decide To Buy
There is a great difference between looking at property and looking to own property. If you have not made the decision to actually purchase land, then it is time to start talking about it. Land is unlike any other purchase you will ever make. They’re not making any more, demand continues to rise and prices continue to go up. That’s why it’s important to have made the decision to buy before you look at specific properties.
Plan Your Purchase
You will be more prepared to buy property if you do your homework. Consider what you would like to use the land for: vacationing, investing or as a full-time residence. Find an agent you’re comfortable with and make sure that they listen to your wants and needs. Find a real estate agent who specializes in the type of property you are looking for.
Determine Your Budget
Review your finances to gain a better understanding of what you can afford. We work with many lenders who specialize in financing northern property who will be more than happy to assist you. Although it’s not absolutely necessary, many people speak with lenders before they take the time to go and see specific property listings.
Find Your Land
Looking for land can be a very time consuming task. Make sure your agent takes the time to listen, and gain a true understanding of what your property goals are to help make best use of you valuable time. If an agent shows you more than four properties without getting close to what you want, something is not right. Most of our successful customers look at three parcels or less before purchasing.
How To Make An Offer
Remember, land is not manufactured in a factory. They’re not making any more, and each parcel of land is unique. When you find the parcel you’d like to own, make a reasonable offer. The three major elements of the offer are purchase price, earnest money, and closing date. Sellers normally feel that the price that they have listed their property for is a fair market price. If you plan on getting a discount you should be prepared to entice the seller with a higher than requested amount of earnest money or a quick closing date.
Sometimes the selling may counter your original offer. Consider the counter offer very carefully, and attempt to meet the seller’s expectations. A seller may have more than one offer on the table, don’t let yours be the one not accepted.
Complete The Transaction
Once you have had confirmation in writing that your offer has been accepted, the property has been taken off the market, the survey or valuation has been carried out, your financing is in order, then everything is set. Get ready for a lifetime of enjoyment!
Enjoy your new purchase. Life isn’t getting any longer.
Owner/Broker Jeremy VanHulle