Purchasing Coastal Real Estate
If you are thinking of buying coastal real estate, there are many details, facts, rules, regulations, and laws that need to be taken into account. Have I scared you off? Oh, how I hope not! You just need an agent who will help you navigate these issues.
Did you know you can be in southeastern North Carolina, not on an island, not on the ICWW, not on a creek, and still be considered “coastal real estate”? Our area is definitely susceptible to coastal hazards…winds, rains, floods, etc. Every area of our great United States of America is susceptible to some type of threat from Mother Nature. As your buyer’s agent, I work hard to learn which parts of Mother Nature’s personality apply to a property that may interest you. As your listing agent, I work hard to disclose which hazards we must disclose to potential buyers.
Loans that are backed by the federal government, may require flood insurance if the property is in a flood zone. Even if it is close to a flood zone, some mortgage companies may actually require it. Make sure your agent knows to check to see what policies are grandfathered in, what properties may be subject to changes in what we call Cobra zones, and which properties may be subject to changes in the type of flood zone it is considered at this time. As your agent, I am more than happy to connect you to several insurance agents who will work with you to quote your insurance policies if you do not have an insurance agent with whom you are currently working.
Your agent needs to understand the different organizations that must be contacted before you build or buy. If you purchase and property and it is under CAMA regulations, for example, you may not be allowed to make adjustments to the property as you would like. If you purchase a property and plan to build a dock, you must have permission from the state to do so is another example. I consider it part of my job to help you find the professionals needed to buy or sell coastal properties so that all interests are taken into account if you do not already use such professionals. I do not claim to know all professionals or that the professionals I do know are what you need, but I will use my research skills to help you find what is needed.
People often ask me why I work from my home. I work from my home while looking over the water, subject to the same regulations we discuss above, and then go out and show homes or list homes in southeastern NC. What could be better?