In this instructional video, realtor Sander Scott outlines essential best‑practice guidelines for owners who are determined to sell their waterfront homes. He stresses the importance of honesty and transparency throughout the process and provides concrete steps: (1) advertise truthfully, avoiding claims of deeded or riparian access when only shared back‑lot access exists; (2) use precise lake‑access language that reflects limited or nearby access without promising exclusive docking rights; (3) include clear “as‑is” language in the sales contract, drafted with a real‑estate attorney, to limit warranties; (4) itemize all outdoor fixtures (docks, rafts, hoists) and personal property (appliances, water softeners) in the purchase‑and‑sale agreement, specifying what is included or excluded; (5) obtain professional tax advice early to understand capital‑gains, income, and other tax implications that can be substantial for generational waterfront properties. He concludes that adhering to these practices protects both seller and buyer, reduces legal risk, and facilitates a smooth transaction. The video ends with a call to comment, subscribe, and follow his channel.
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So you're thinking about selling your waterfront property. I try to talk you out of it. Selling the house? No, sell it. But if you're dead set on selling it, you want to make sure that you do it in a way that is honest, transparent, and clear. Exaggerating or misrepresenting any part of the property could lead to problems down the road, including lawsuits, unhappy buyers, etc. To avoid such complications, here are a few guidelines that I think you should follow. Number 1, transparent advertising. When describing your property, always stick to the facts. If your property offers backlot shared access, avoid advertising it as deeded access or riparian rights. Don't puff it up. You, you want to be able to market, put your property's best foot forward, but you need to be truthful about what the property has to offer. Disclose any potential issues issues within reason. Honesty is always the best policy in attracting the right buyers and avoiding legal trouble. Number 2: Accurate lake access language. For properties with nearby lake access, use language that accurately conveys the situation. Instead of implying exclusive access, use clear phrases like limited lake access to Lake Leelanau is located nearby, etc. Avoid statements that could be misleading, like suggesting permanent docking privileges or unrestricted uses of lake access devices. Exaggeration can lead to problems and misunderstandings, and those lead to legal action. Always include "as-is" language. Ensure that your sales contract includes proper "as-is" language. This makes it clear to potential buyers that there are no warranties or guarantees other than those related to title. Enlist the help of a skilled real estate attorney to craft appropriate language that protects you from liability in case issues arise after the sale. Number 4, specify included outdoor items and personal property. Waterfront properties often come with outdoor items like dock sections, swim raft, boat hoists. In the purchase and sales agreement, be specific about what items are included in the sale and agreed upon, uh, and what the price that you agree upon them is. Clarity often avoids misunderstandings and disputes around down the road as it relates to personal property. Address movable items inside the house. Items like washer, dryer, refrigerator, water softeners might be movable or removable. Clearly state in the purchase agreement whether items are a part of the sale or not. Avoid confusion by explicitly mentioning such items and their status. Number 6: Professional tax advice. Seek tax advice. All real estate transactions have tax implications at the local, state, and federal levels. However, because some waterfront properties have been in the family for generations, these tax implications can be intricate and complicated. I highly, highly recommend that all sellers of waterfront property Seek tax advice prior to listing and advertising your waterfront property for sale. Understanding your capital gains tax, income tax, and other tax considerations related to the transaction as early as possible in the process is critical and can save tens of thousands, perhaps even hundreds of thousands of dollars. So call your tax advisor. In conclusion, selling a waterfront property involves not only showcasing its features but also being forthright about its limitations. By providing accurate information, using clear language in the agreements, seeking professional guidance, you can ensure a smooth process, a smooth sale process, uh, that benefits both you and the buyer. Remember, honesty and transparency are cornerstones of a successful waterfront transaction. That's all. Thanks a lot. And hey, if you found anything useful in this video, leave me a comment. Always encourage subscriptions too. Subscribe to my channel. Thanks a lot. I'm Sander Scott, your full-service realtor.
