It isn’t often that you find a real estate bargain on a body of water. However, certain times of year are better than others. If you purchase a property in September, don’t expect to be using it until next year. In NY State, a closing will take from 45-60 days. Even with a cash deal, the time that it takes to complete the search, survey, and title work is significant. If you add to that the time that it takes for the lawyers to work you into their schedule, you will understand why it can take so long.
In any event, if you are seeking a lake bargain, this might be the time of year. Many who have decided to sell will plan to list and sell at the end of the useful summer season.
The following is located 7 doors in from the lake on a canal. The township is North Harmony. According to the real estate listing, the cottage “needs work”. Many would call this a handyman special. I am always a bit concerned when there are no interior photos of the property. When purchasing something like this, you might want to expect it to require a cash deal.
To my eye, the exterior looks nice. The location on the water is a huge plus and at $79,999 (as of 08/30/2011) you won’t find many properties at a lower price with water frontage. The benefit of the canal front properties is the ability to tie your boat up in your back yard.
Click on the picture to view the complete listing on the Chautauqua County Board of Realtors site.