5 Things to Never Overlook When it Comes to Acquiring or Disposing of Ownership in Hawaiian Oceanfront Realty
1. Shoreline Survey - In order to adequately determine your property lines a professional survey should be performed by a licensed surveyor. In the case of oceanfront property this can and will usually take much longer than your typical timeframe which is a couple of days turnaround. With shoreline surveys it can take more than 6 months sometimes as the surveyor needs to take into consideration the high and low tide during the changing seasons. Be prepared to discuss this with your realtor and legal time including the title company handling your transaction.
2. Erosion - Erosion is a serious issue not to be taken lightly. Property values can and will certainly be affected by erosion - usually in a negative way. Erosion is a loss of land unlike accretion where it is gained due to deposits. Simply relying on a seller's disclosure statement should not be enough. Again, involve a good Hawaii real estate attorney.
3. Frontage - The location of your property cannot be changed or renovated like the structure can. It is important to understand what you are buying or selling. Frontage when it comes to oceanfront, beachfront, and Hawaii waterfront property means everything. It is the most valuable asset when it comes to real estate. The linear feet of the property should be professionally verified to ensure it's accuracy.
4. Maintenance - Oceanfront real estate has it's benefits for sure but the price that is associated with it also has it's drawbacks. Make sure that you are aware of all the damage that the ocean salt water can do to a property. It is not easy to deal with and certainly not for everyone. Even though it may sound like a dream come true to live and own waterfront Hawaii realty, the cost of dealing with it financially and emotionally should be something all future owners are well prepared for in advance.
5. Legal Support - Issues such as cloud on title or even a strip of land that has been abandoned next door or in between your parcel you are pursuing and the main road can all become a real deal breakers. These are not to be taken lightly and we have dealt with similar situations in real life. Always best to have a great attorney involved when buying or selling real estate no matter where it is located. Not just oceanfront. At least that is our best recommendation and we enjoy knowing that another set of professional eyes is looking out for our client's best interest.
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