Are you thinking about purchasing a bayfront property and want some tips on waterfront living? In this video, I’m going to explain how buying a bayfront property is different from your typical real estate transaction. We’ll look at things like water rights, permits, and boat slips so you know exactly what to expect.
Water Right And Claims
There are some important things you need to know before purchasing a bayfront property. This is one of the things we specialize in and, while most of our clients have already purchased other real estate in their life, they’ve probably never purchased a bayfront property. Waterfront properties are completely different animals.
So what’s different about a bayfront or waterfront property? The first thing that you’re going to do when you go under contract is to have the title company order a tidelands or riparian claims search. While we do this on every property, it’s even more important on waterfront property.
We want to see if the state has any claim on the water rights and whether there’s a fee associated with that. This is very important, so we’re going to run that search right away.
Bulkhead Inspections
You’re also going to want to consider doing a bulkhead inspection. Is there a dock there? Then you’re going to want to inspect the pilings and the dock that’s associated with it again. This is an expense that you’re not going to see on a regular house.
However, bulkheads are extremely expensive, so you might want to do an inspection to make sure that everything is safe and sound. If it’s not properly installed, we get into a whole other book of issues and environmental permitting and regulations.
CAFRA Permits
One of these is called CAFRA permitting, a state environmental permitting here in New Jersey. These permits are very tedious, and they’re a specialty of a select few engineers and local attorneys. Don’t worry: when these things come up, I already have the best attorneys and engineers to refer you to. This is very intricate, and there are only a few people locally that specialize in these things.
You’re going to want to work with a qualified engineer or attorney who specializes in the tidelands or riparian CAFRA. We can go through some of the additional contingencies you might want to have in your contract to get these things done.
Ordering A Survey
Another thing you’re probably going to want to order once you’re under contract is a survey. We recommend this for every house, but it’s even more important on the waterfront. You want to see if there are riparian or tidelands.
And if you need to install a dock because you don’t have one already, the survey is going to be necessary for additional permits. You might as well just get it while you’re under contract.
Navigating The Waters
If you’re a boater—and I assume you are if you’re buying a bayfront property—you want to make sure that you can navigate the waters wherever this house is located. We have a lot of areas that may just be mud at low tide, so it’s important to check out the property at low tide and see if you can navigate.
How big is the boat slip? How much water do you need? How much water does your boat draw? For example, can you navigate at low tide? What does it look like from the wind stocking? If you have a boat already, I even recommend bringing it back to the area or the lagoon to see how comfortable you are navigating that.
Chances are you’re probably buying a bayfront property to go boating there. If you don’t have a boat already, let me know. We have friends that may be able to take you back there by boat so you can get the experience of not only the house from the front door but from the dock and bay front side of the house.
I’m Here To Help
Now that you know there’s a lot more to think about when you’re purchasing a bayfront or waterfront property, feel free to give me a call. We specialize in this here at the Jersey Shore and our coastal regions, and we’d be happy to help.
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