I just completed my first long distance sight-unseen sale and although I was very nervous it went through just fine.
The Buyer was here from out of state and I showed him a few properties. He made an offer on one but the Seller countered. We raised our offer but the Seller went up on his price! But that's a subject for another article. Understandably dissatisfied, my Buyer went home.
I sent him new listings by email over the next several weeks which led to previewing a couple for him. I took pictures and emailed them to him but nothing really caught his eye.
The third one led to writing an offer which I emailed to him, he printed it, signed it and faxed it back to my fax-to-email account. I then printed it and delivered it to the listing agent "contingent on his approval in person". It was accepted by the Seller.
The Buyer arrived the day before the scheduled closing (now I'm really getting nervous) and approved the purchase. He had the funds wired to the closing attorney and we closed the next day.
My how technology has changed the way we do business! A warning though, a sight unseen offer that goes until the day before closing can lead to ulcers!
Kentucky Lake and Lake Barkley in Western Kentucky are manmade lakes from the Tennessee and Cumberland Rivers respectively. They are also called reservoirs because of the damns on these rivers that created them. The Tennessee Valley Authority in conjunction with the Federal Government created them for generating electrical power, flood control and navigation.
The TVA along with the Corps of Engineers controls the lakes and their levels. You can find flow rates and lake levels at this TVA website.
The flow of water through the two dams' power plants creates electricity. I understand some of the lowest electric bills in the country are experienced by the southeastern part of the United States because of the inexpensive and "green" generation of electricity from the power plants.
For flood control the lakes are drawn down in the winter to 354 feet above sea level. When the watershed experiences spring rains combined with the snow melt from the north down the Mississippi and the Ohio rivers the Corps of Engineers can hold back the water flowing through the dams and allow the lakes to rise, lessening the potential for flooding downstream. Normal summer pool is 359 feet above sea level or a difference of 5 feet.
Before the dams were created navigation was treacherous. Now with the locks a great amount of product can be shipped by water. Kentucky Lake is in the process of extending their lock to handle longer barges. Currently some barges have to go through the lock in two sections taking a long amount of time and backing up traffic.
The lock project has created many local jobs and the housing market has benefited by those relocating here.
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I Specialize in Kentucky Lake waterfront and lake area properties. Having lived on the lake for 12 years and in the community for 25 I'm very familiar with the market. Selling them one yard at a time!
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