Things to Consider Before Buying & Selling A Golden Gate Estates Lot
- Price
- Location
- Size of Lot
- Proximity to Schools, Shopping, Job Location & Medical Facilities
- Environmental Issues
Any real estate agent can help you with the first four on the list. As an experienced & knowledgeable buyer’s agent, I can guide you through the environmental issues that seriously affect the value and price of lots in Golden Gate Estates. As a listing agent for GGE lots, I have learned and implemented the steps involved in the determination and process of preparing a lot for sale when wetlands are present.
Wetlands V. Uplands-What it means in dollars and cents!
The presence of Wetlands can seriously affect the purchase price of a GGE lot.
The rule of thumb is “the cheaper the lot, the more wetlands issues there are”. The cost and time needed for permitting has a direct impact on the bottom line!
The wetlands issues are made up of state protected exotic plants and trees, soil types, and depressional vs. non-depressional land. As a buyer, you should always ask for a DEP(Department of Environmental Protection) report. This report will state whether there are wetlands present and if so, whether an ERP( Environmental Resource Permit) is required. As a buyer or seller, if you have determined that the lot has no report, you will have to get a DEP report (free for now for the informal report for lots up to 2.74 acres). This could take up to 2 months. First, the lot must be staked on all corners with a path up the side of the lot if needed( $150-$300). You could also hire a private consultant that can usually do a wetlands/uplands report within a week for $150-$500 depending on the size of the lot. They can then submit it for a quick review from the DEP for a fee of around $150. The DEP always has the final say!In some cases, when the lot is only partially wet, a site plan can be drawn by a private consulting company, submitted and approved by the DEP that would avoid the need for the ERP. If an ERP is required, it could take up to 90 days and cost anywhere from $ 600 to $1000 in addition to the cost of a site plan which is around the same price depending on the size of the lot. A private consultant can be hired to obtain this as well. Pricing differs between the different companies. Once the ERP has been issued, and before the construction permit has been obtained, Mitigation fees must be paid to a designated bank in the form of credits. For example, a 2.45 acre lot has a site plan that disturbs .45 of the wetlands will have to pay .25 credits which can run around $8000 to $9000 in fees.
Upland lots would not require anything more than a DEP report or a private report stating that an ERP is not needed to build. At this point, all you need is a construction permit!
In Summary, the environmental issues that exist in GGE are very complicated. Make sure you find a real estate agent that is very knowledgeable and hands on with these issues.
My real estate focus is primarily in GGE homes and land. I will assist you through the steps involved with either purchasing or a listing a GGE property.