Rent vs Buy in York County>Question Details

John, Home Buyer in Parsonsfield, ME

Cash buyer looking to buy a small camp/conttage/land in York from a private party. Are there advantages to Maine over New Hampshire?

Asked by John, Parsonsfield, ME Sun Jan 1, 2012

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I would not limit your search to "private parties".... in the York area there are very few for sale by owners, and don't be misled that you may get a better price without a Realtor. If you do have a buyer broker, their responsibility is to represent your best interest, including financially.
I personally purchased a lot just over a year ago, for a great price, and am now building an investment property on it.......was listed with an agency but had a few "issues" which I was able to get answers from the town and resolve, and ultimately was a more desireable buildable piece of land.
Best of luck!
Cindy McKenna, Realtor
0 votes Thank Flag Link Sun Jan 22, 2012
Good morning, John. The real estate taxes in Maine are generally much lower than Hew Hampshire. NH has no state income nor sales tax and generates a larger portion of state revenue through real estate taxes.

The majority of property for sale in York is listed. So by seeking a "private sale", you are really limiting the scope of your opportunity. Frequenetly, property for sale that is not listed has issues. e.g. the cost of building access may exceed the value of the land, there could be access or title issues. So if you do buy privately, you should use an attorney to ensure that the property you buy is buildable, accessable and has marketable title.

If you need the name of a York real estate attorney, feel free to email me. Good luck in your search.
Margaret Mitchell
Coldwell Banker Yorke Realty
529 US Route 1, Suite 101
York, ME 03909
Office: 207-363-4300 X107 Cell: 207-752-3489
EMail: Margaret@MargaretMitchellRE.com
0 votes Thank Flag Link Mon Jan 2, 2012
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