Recently, I have had multiple clients inquire on some properties that were labeled waterfront. First thing is first:
What is the level (elevation) of the land? If the land is at the 700ft mark and the Lake is full at 681ft then you may only have waterfront a month out of the year.
Who owns the land underneath the water? Yes, You may own the land but someone else owns the land underneath that water.
Also take a look at the waterfront footage. How many feet are there of waterrfont?
Some building restrictions only allow a certain sqft. house and boat dock
Also be sure to check with who controls the water (fluvial rights). In Texas we have the LCRA (Lower Colorado River Authority).
Overall check with all the powers that be so you can make a sound decision for you or your clients.
Bottom Line, I ensure my clients get the best price with the most protection and the least amount of stress. If you or anyone you know would like that kind of treatment, please pass along my name and contact info.
We have the same issue in my area of California - notably Lake Tulloch. Only even slightly more complicated as there are 2 Federal Agencies, (Bureau of Land Management & Army Corp of Engineers), 1 State Agency (Calif. Water Quality Control Board), and 2 counties involved. There have recently been some issues that resulted in fighting between the Feds as to who controls how much of the water. And most notably fighting over who exactly owns the land under the water. So very good that you are making buyers aware of the possible issues.
Whether you are buying or selling a property in Lago Vista, Austin or beyond, our goal is to provide you with the resources and tools you need to make a smart and stress free real estate investment
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