Upper Peninsula Association of Realtors
1099449, 1099449, 1099449, 1099449, 1099449, 1099449
This tract is one of four large acreage riverfront tracts we have in Baraga County on the famous Sturgeon River. Located just minutes north of Covington in Michigan's Upper Peninsula, this choice tract has it all. Timber land, waterfront with excellent deer and grouse hunting and trout fishing in the scenic river. There is good access from a county road to this tract and it still remains remote, private and peaceful. You will find a mixed upland woods with scattered lowland areas, beautiful river front and all the animals you could hope for in an area known for great recreation. This will make a wonderful north woods retreat with enough timber to offset many of your costs. If you are seeking a woodland, waterfront parcel with extensive acreage and all that has to offer, this tract could be for you.
From M28/US141 intersection, go west 1/4 mile to E Cemetary Rd. Take right and go north 1.3 miles, take left on Section 16 Rd and go west 1/2 mile, take right on E Autio Rd and go north 3/4 mile to parcel on left.
DISCLAIMERS & AGENCY DISCLOSURE
- Buyer's Fee: 0%
- Earnest Money: Total earnest money to be negotiated at the time of offer and to be agreed upon in writing in a Purchase Contract by the Buyer and Seller.
- Brokers and Agents are fully protected and encouraged to participate.
- RealtyHive & Micoley.com, LLC are licensed auction firms performing auction and auction marketing services as part of this transaction.
Copyright © 2020 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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As is true with any major purchase, you should thoroughly investigate your investment before you go through with a real estate transaction. Always do your homework. Although it may be tempting to purchase a property without taking time to dig into it, we do not recommend it. Here are a few suggestions:
- Read the contract in full.
- If possible, physically visit the property.
- If the property is a multi-family, acquire rental history, vacancy rates, etc.
- Know the area in which you are buying, so you know what to expect of that market.
- Consult a local broker.
If a buyer is not certain that he or she want to purchase a particular property, then that buyer is advised not to bid on the property. If a buyer has not inspected and/or not performed due diligence on a property and desires to do so before purchasing the property, then that buyer is also advised not to bid on the property. As always, feel free to contact a RealtyHive representative at 888-869-5672
with any further questions.
Property Buying Tips
So you’ve decided to buy! Congrats, that’s great!
Here are some great tips to get you on your way to ownership.
1. Determine Your Budget & Save
Take into account the average down-payment is 10%. 10% is not required, but the loan amount and approval will fluctuate depending on the percentage you put down. Determine how much you can pay for your monthly mortgage. Outline your expenses and be honest with yourself about what you can reasonably afford. Also, ask yourself what happens if you lose your job? Or if you’re part of a couple, what happens if your spouse loses their job?
2. Secure a Loan
Once you’ve got your budget in order, it’s time to go shopping for a loan. Visit multiple lenders to weigh your options and find the best deal. Each bank will determine if you are eligible and at what interest rate you will be charged. based on your financial situation. Make sure to ask questions such as what the breakdown of the monthly payments will be once you have made your down payment, how the loan term will affect your monthly payments, whether or not the interest rate is fixed or variable, if home insurance or any other services are included within the home purchase amount.
3. Be Prepared
Have a current Pre-qualification letter and good faith deposit funds available. Technology makes it easier than ever for your real estate agent to draft and transmit a purchase offer back and forth for your signatures. But, this is only one piece of the puzzle. You also need a current pre-qualification letter, and ready access to your good faith deposit. This can be obtained from the bank and confirms their willingness to give you a loan. Most sellers won’t accept a letter that’s more than three months old. If your home search lasts for more than three months, you’ll need an updated pre-qualification letter. When you submit your offer, it must include a check for the good faith deposit. Generally, good faith is at least 3% of the purchase price. This check will be deposited into an escrow account within three days of an accepted offer.
4. Stay Informed
Always make sure to do your homework and learn the history on a property you are interested in. Does the neighborhood have a high crime rate or a new highway/major road being constructed nearby that could be affecting the price? Is the heating, plumbing, roofing and window work in good condition? Those hidden problems can lead to major expenses in the future - post purchase. Ask your realtor for a property condition report and and see if the home comes pre-inspected. If not, we highly recommended to get and inspection before the purchase is complete. Being “in-the-know” and taking the extra steps can save you money and headaches in the long run.