Home Buying in Marysville>Question Details

Amemu, Home Buyer in Just Us, Atlanta, GA

Buying a home on leased Tribal land in Marysville?

Asked by Amemu, Just Us, Atlanta, GA Wed Jan 7, 2009

My real-estate agent says it's not a bad idea to buy a home in Marysville with a 15yr. land lease. Should I get a new agent or should I buy that beautiful ocean-view palace!?!

Help the community by answering this question:

Answers

4
Make sure that you go to a title company and find out if the 15 year lease is grandfathered in. Be very careful as the rules can change very quickly. You want to make sure the lease can be transferred to a new owner.
0 votes Thank Flag Link Tue Sep 22, 2009
I agree with everything that the Realtor who gave you the first answer has to say. If I had my choice I would always purchase a home that was on deeded land. Buying a home is a very emotional decision. So if it is a home you love and have researched the leased land issue on the Tulalip, and are comfortable with the issues, then write and offer.
As far as your agent goes, Its not my place to suggest to you to get a new agent. You personally need to look at their body of work put in for you. If they are working hard for you and regularly bring listings to your attention and are there when you need them, then they are doing a pretty good job. If not then you may want to consider someone else Best of luck in your home search and purchase
Sincerely
Morrie Tacher
John L. Scott
0 votes Thank Flag Link Thu Jan 8, 2009
Advice of this nature given by a real estate professional should be disregarded. The best source for accurate information will be found by consulting an attorney.

Our advice.....proceed cautiously.
0 votes Thank Flag Link Wed Jan 7, 2009
http://www.tulalipca.com/beachf.htm This artical was writen around August 07, but it explains the situation.
You need to do your homework and find out if the home you want will have a lease renewal. Resale value is also something to consider, assuming you will not be moving the house down the road to another location. What are your goals15 years from now? Do you love the home so much or will you be in a situation that 15-30 years down the road it won't make a differance what happens to the house and land?

Should you get a differant agent? Without knowing your relationship with your agent and the conversations that have taken place between you, that question is hard to answer. Have you voiced your thoughts and asked the important questions? Do you understand the answers and reasons given? Ask yourself if you feel as though your agent is representing you and your interest? Have you a signed a buyers agreement with this agent? Is your agent also the listing agent?

We can't tell you to get another agent, you have to deside what is best for you. You need to follow your gut!

I hope this helps a little in the way you view things. Good luck and happy housing and have a great 2009.


Remember...I always have time for all of your referrals!
0 votes Thank Flag Link Wed Jan 7, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer