"... own a lake front compound." I'm unsure as to what that actually means or encompasses: what is the seller conveying in the sale? The buildings and contents, got it. But what of the land lease Rick? You're more than vague with no details; can buyer drill water well, can buyer harvest firewood, does the lease automatically convey, is the lease for a predetermined time period, when and how is lease to be renewed, will any additional monies ever be due the lumber company, can lumber company terminate lease arbitrarily or simply decide to not renew at lease end which leaves the "compound owner" what options? A great presentation of a very cool property! Perhaps another viewer knows how this whole process shakes out...let me know. THX!
Well if you want to know the nitty gritty about the lease, a copy of the standard P&C lease can be sent to you. No the lease does not automatically convey, you would have to as a contingency of a purchase and sales agreement have to apply with P&C and pay a $50 application fee for your credit check to see if you are acceptable to them. Then if you pass their credit check at closing the lease transfers to you with a payment of a $200 fee to P&C for that transfer. To get into the nitty gritty of all this stuff is part of the reason I give my phone number, call me. I have sold several properties over the years on P&C managed lands. It is pretty straightforward. Most of the 1.26+- acre lot that is leased is shoreland. You can't cut all the wood in the shoreland zone. So no, you don't have a cart blanche license to cut wood everywhere, because you lease 1.26 acres of lakefront property.
Id be tickled to death to live there, even in a one bedroom, bathroom, kitchen/dining area. Bingo ! On that Lake is the Real Deal. All those wild brook trout and my canoe & Fly Rod This is Heaven..
The annual lease fee is $1660/yr. The property tax is for the buildings. The Purchase price is for the buildings, dock and other improvements at the location and the transfer of the lease from the current leaseholder to a new owner.
$1660.00 a year for the lease??? Why do they bother...just sell it! It would be much more attractive if you could own the land as well. I am looking for a vacation spot in Northern Maine, but I don't see any benefit from leasing land. Lovely property though.
Cleaning up around the lot and salvage from downed trees along the way to camp I would surmise. Also the property is used seasonally. No one lives there through a winter heating season, so you do not need dozens of chords of wood.
Thanks Rick, another informative and invitational video on a beautiful property. Since it is off-grid, could you say something about it's potential for solar or wind.
Very limited for both. Wind is really too expensive and a decent turbine properly installed would require a tower taller than the pine trees around the property. Solar requires no shading, again tall trees limit that. Perhaps a small system on a portion of the dock could work.
1st. You don't own it unless you have 200gs to waste. This place SCREEMS CRYPTIC PARANORMAL and, how far from the Main rd? 100%. If you're into all of the above and consequences, then this place is for you. It reads a horror movie to me.
If it’s a land lease, who does the $200k go to? The previous owner or the land lease corporation? If the corporation, what are the ongoing “lease payments” to them?
The seller owns the buildings and other improvements. He also has the lease. The $200k goes to him. The lease will then be transferred to the owner of the buildings. There is an approval process by the land management company and a $200 transfer fee of the lease that goes to the company managing the land.
The lease is managed by Prentis & Carlisle which is a land management company in Maine. They manage quite a few leases throughout the state in areas such as this. Their standard lease agreement and term is 1 year, renewable in May.
@@MandalorianFanboy The copy of the lease I have has $1660/yr. There is no annual increase stipulated in it. There is language that the leaseholder needs to be notified in writing by May 1st of any increase.
@@MandalorianFanboy The lease fee that P&C provided to me was $1660 per year. There is no annual increase stipulated. There is language that says any increase will be notified in writing by May 1st.
For those that wonder why a Lumber Co wouldn't just sell land with the property. This is common for large farmlands, mining areas, oil fields, shale fields for LNG etc etc. The Lumber Co is most likely getting govt subsidies for the total acres they own which would include this property. They make capital and save in taxes with these subsidies. They are put in place to encourage businesses to do a particular type of business that is deemed beneficial for the United States. This may also be done on a state level or county or any combination of such, etc. What usually happens in this sort of thing is say the business , in this case a lumber company , wants a block of land they want to harvest something from, again in this case lumber... They may find the area near this plot a good spot to harvest but the spot here that has the cabin not that great for them. Or any number of other reasons. If I heard Rick correctly I believe he said the lumber company built this cabin. If that is the case it makes perfect sense. It was prob used for workers which they no longer need or have a use for. Pretty common practice. Get with the lumber co look at the lease. They are usually very simple and easy leases without lack of freedom but you need to investigate that. Someone said it's like an HOA. LOL! Not that bad. Usually you have pretty much freedom to do what you want. Again usually. Investigate the lease. Once more what appears to be happening here is this plot is part of the lumber company's subsidized land portfolio and they just can't wack off a small plot without it cutting into there total subsidized acreage. There may actually be a clause in the lumber companies subsidization agreement from any govt agency they have an agreement with. And that lumber company will NOT part with its subsidies. check it out. Investigate a bit. I would be willing to bet this is exactly what's going on. If that's the case. It's a good deal. One more thing usually these sort of land leases where the business is getting subsidies are for a very long time. Mostly the maximum time allowed. 99 years usually. I have seen business actually renew leases evwry few years to keep it at a perpetual 99 years. For example every 5, 10 or even every year a new lease is drawn up or a etc to make up the time. To always keep it at the maximum time allowed. Say 99 years or whatever. Thie really is pretty common. Farmlands. Woodlands. Mining areas. Oilfield areas. Etc etc
people are concerned about it being a land lease when in actuality if buying a house with land you never end up owning your land even if you pay your house off.If you don't continue to pay property taxes they will foreclose on you.
$1660.00 a year for the lease??? Why do they bother...just sell it! It would be much more attractive if you could own the land as well. I am looking for a vacation spot in Northern Maine, but I don't see any benefit from leasing land. Lovely property though.
Correct. The seller owns the buildings and holds the lease. He is selling the buildings and other improvements. The camps are fully furnished and the lease will be transferred at closing to the new owner.
The code enforcement authority for the area is the Land Use Planning Commission, and they would oversee any building permits for further building on the property. Additional construction also needs approval of the landowner prior to construction.
Who would buy a cabin on land that you don't own? They might decide not to renew the lease on the land and they take the cabin because it is on their property no thanks!!!
It's pretty common on timber property . I really don't think it happens that often where they refuse to renew the lease .If you research it when you look for off grid really remote most of those lands were bought up by timber companies long ago .
How is it even legal to sell the buildings on a property but not the actual land I understand if it's a mobile home cuz you can take the mobile home with you and go somewhere else . Basically you're totally at the whim of the land holder. You're basically paying and working to improve their land
Well, don't move to Hawaii !!! Everyone who lost their home in the Lahaina Maui 🔥 Fire are still having to pay their mortgage and hoa fees on leased land. I guess that is the ultimate loss and comes w a nervous breakdown attached to bankruptcy.
@@richardtheriault7624 I'm just confused as to what you're actually buying and if there is like an indefinite time limit that you own these buildings can you move them how does that work . In 5 years can the landowner just be like this is my land I'm taking it back there's a lot of legalities here that in the future video would be appreciated if they were explained at a cursory level
Well it would be really dark there on a moonless night for sure. When a loon breaks the silence of the dark night, it might be a bit unnerving for some.
@@richardtheriault7624 so the owner is not going to sign a 10 year or 20 year lease or 30 year lease. If it is a 12 month lease, why would anyone pay $199k and not have the lease renew in one year?
@@ChrisFromMaine207 Chris I don't know what to tell you other than there are 100's of people that have similar leases in rural areas that are for the same 1 year term. The landowner isn't selling the property. The lease owner is selling his buildings and allowing for his lease to be transferred to the new owner of the buildings.
I was pretty straightforward about what was selling and that the buildings are being sold, and the lease would be transferred to the new owner, which is exactly what happened.
Basically the logging company still owns the land and you’ll have to deal with that on a day to day basis until winter logging trucks nonstop will be the bane of your existence not to mention the bugs and ticks not worth it sorry to say.
I didn't see 1 logging truck on 3 trips to the property. Not 1. I did pass by 1 active logging operation, and yes the land around it is owned by timber companies and you are allowed onto those 1000's of acres for virtually no money. So what is your complaint?
Taxes go up up up as well, and do you really own that? Try not paying taxes on property you own for 2 years and see what happens. In reality we are all leasing or renting from the government.
@richardtheriault7624 There are some good questions in the comment section. Can this lease be passed down to kids, or should their names be on the lease from the start? I 💗 this place.
@@kookietherapy9398 I am no attorney but I don't know why you couldn't pass it along, there is a transfer form that is filled out for the transfer from one party to another. The owner of the land needs to know who is paying the lease, and where they are located.
I looked on a map this isn't secluded this is desolate. I didn't see a road so you've got 20 miles of who knows what. A little impractical You would have to be quite wealthy and you would need to buy the land and try to fix this up.
I and the owner drive right to the property. No paved roads, but roads none the less. Wilderness area for miles around you. Obviously this is not a property for you.
I think Rick hit the nail on the head that this is a great property for a guy who is an outdoosrman and a pilot with a float plane , This set up reminds me of what many remote Alaskan lake cabins are like .
I like the location but everything about it is nonsensical. Who wants to spend that much money but not own the land? The cabin is absolute trash it almost looks like it would have been a camp at some time the way it's labeled. I would prefer the land and tear everything down and start over this is a hot mess but the location and the views are beautiful.
Beautiful slice of Maine paradise. It’s a shame they aren’t selling the ground. Thanks for the effort to share this with us Rich!
"... own a lake front compound." I'm unsure as to what that actually means or encompasses: what is the seller conveying in the sale? The buildings and contents, got it. But what of the land lease Rick? You're more than vague with no details; can buyer drill water well, can buyer harvest firewood, does the lease automatically convey, is the lease for a predetermined time period, when and how is lease to be renewed, will any additional monies ever be due the lumber company, can lumber company terminate lease arbitrarily or simply decide to not renew at lease end which leaves the "compound owner" what options?
A great presentation of a very cool property! Perhaps another viewer knows how this whole process shakes out...let me know. THX!
Id say it's probably a reason Rick didn't talk about the lease price or the details. If the land was included then it would be worth $150k
Well if you want to know the nitty gritty about the lease, a copy of the standard P&C lease can be sent to you. No the lease does not automatically convey, you would have to as a contingency of a purchase and sales agreement have to apply with P&C and pay a $50 application fee for your credit check to see if you are acceptable to them. Then if you pass their credit check at closing the lease transfers to you with a payment of a $200 fee to P&C for that transfer. To get into the nitty gritty of all this stuff is part of the reason I give my phone number, call me. I have sold several properties over the years on P&C managed lands. It is pretty straightforward. Most of the 1.26+- acre lot that is leased is shoreland. You can't cut all the wood in the shoreland zone. So no, you don't have a cart blanche license to cut wood everywhere, because you lease 1.26 acres of lakefront property.
@@richardtheriault7624 THANK YOU...I realize it's somewhat nuanced but that certainly helps!
Id be tickled to death to live there, even in a one bedroom, bathroom, kitchen/dining area. Bingo ! On that Lake is the Real Deal. All those wild brook trout and my canoe & Fly Rod This is Heaven..
@@John-w9m8d Sweet, eh !!!
Nice and secluded…
So the $200,000 is for the infrastructure?
How much is the lease annuall?
And why the property tax if it’s a lease?
The annual lease fee is $1660/yr. The property tax is for the buildings. The Purchase price is for the buildings, dock and other improvements at the location and the transfer of the lease from the current leaseholder to a new owner.
$1660.00 a year for the lease??? Why do they bother...just sell it! It would be much more attractive if you could own the land as well. I am looking for a vacation spot in Northern Maine, but I don't see any benefit from leasing land. Lovely property though.
Really nice property even though you don’t own the property. Wish I had money.
@@Ryan-ok5ds If it was owned land the price would be twice what is being asked.
*United Country Lifestyle Properties of Maine* Beautiful place, thank-you sir for taking the time to show us around. GOD Bless.
Thanks for watching and commenting.
I’ll take it! I want to move the cabin to Phoenix Arizona, to my desert lot.
The many trees would be a huge issue but what about adding solar panels for electricity?
Rick, Good Morning. Where do they get enough firewood to burn all those stoves? With such a small Lot. Thanks
Cleaning up around the lot and salvage from downed trees along the way to camp I would surmise. Also the property is used seasonally. No one lives there through a winter heating season, so you do not need dozens of chords of wood.
Thanks Rick, another informative and invitational video on a beautiful property. Since it is off-grid, could you say something about it's potential for solar or wind.
Very limited for both. Wind is really too expensive and a decent turbine properly installed would require a tower taller than the pine trees around the property. Solar requires no shading, again tall trees limit that. Perhaps a small system on a portion of the dock could work.
Can you add buildings and redo the main house to like a house add walls?
Beautiful peaceful place and looks well built some
One’s going to really love this place
1st. You don't own it unless you have 200gs to waste. This place SCREEMS CRYPTIC PARANORMAL and, how far from the Main rd? 100%. If you're into all of the above and consequences, then this place is for you. It reads a horror movie to me.
Very special place.👍👍👍
Wow!! What a compound!!! This place is amazing!!! Another great property Rick
Thanks Alex. It is a cool location and a great property with loads of privacy.
If it’s a land lease, who does the $200k go to? The previous owner or the land lease corporation? If the corporation, what are the ongoing “lease payments” to them?
The seller owns the buildings and other improvements. He also has the lease. The $200k goes to him. The lease will then be transferred to the owner of the buildings. There is an approval process by the land management company and a $200 transfer fee of the lease that goes to the company managing the land.
@@richardtheriault7624 - That is an absolutely beautiful property!
@@Erin-Thor Thanks Erin. It is a beautiful property.
Is the lease stipulated by the number of years? Or can you be put on notice they want the property at any given time?
The lease is managed by Prentis & Carlisle which is a land management company in Maine. They manage quite a few leases throughout the state in areas such as this. Their standard lease agreement and term is 1 year, renewable in May.
How much is the lease and does it increase annually at a certain percentage?
@@MandalorianFanboy The copy of the lease I have has $1660/yr. There is no annual increase stipulated in it. There is language that the leaseholder needs to be notified in writing by May 1st of any increase.
@@MandalorianFanboy The lease fee that P&C provided to me was $1660 per year. There is no annual increase stipulated. There is language that says any increase will be notified in writing by May 1st.
For those that wonder why a Lumber Co wouldn't just sell land with the property. This is common for large farmlands, mining areas, oil fields, shale fields for LNG etc etc. The Lumber Co is most likely getting govt subsidies for the total acres they own which would include this property. They make capital and save in taxes with these subsidies. They are put in place to encourage businesses to do a particular type of business that is deemed beneficial for the United States. This may also be done on a state level or county or any combination of such, etc. What usually happens in this sort of thing is say the business , in this case a lumber company , wants a block of land they want to harvest something from, again in this case lumber... They may find the area near this plot a good spot to harvest but the spot here that has the cabin not that great for them. Or any number of other reasons. If I heard Rick correctly I believe he said the lumber company built this cabin. If that is the case it makes perfect sense. It was prob used for workers which they no longer need or have a use for. Pretty common practice. Get with the lumber co look at the lease. They are usually very simple and easy leases without lack of freedom but you need to investigate that. Someone said it's like an HOA. LOL! Not that bad. Usually you have pretty much freedom to do what you want. Again usually. Investigate the lease. Once more what appears to be happening here is this plot is part of the lumber company's subsidized land portfolio and they just can't wack off a small plot without it cutting into there total subsidized acreage. There may actually be a clause in the lumber companies subsidization agreement from any govt agency they have an agreement with. And that lumber company will NOT part with its subsidies. check it out. Investigate a bit. I would be willing to bet this is exactly what's going on. If that's the case. It's a good deal. One more thing usually these sort of land leases where the business is getting subsidies are for a very long time. Mostly the maximum time allowed. 99 years usually. I have seen business actually renew leases evwry few years to keep it at a perpetual 99 years. For example every 5, 10 or even every year a new lease is drawn up or a etc to make up the time. To always keep it at the maximum time allowed. Say 99 years or whatever. Thie really is pretty common. Farmlands. Woodlands. Mining areas. Oilfield areas. Etc etc
people are concerned about it being a land lease when in actuality if buying a house with land you never end up owning your land even if you pay your house off.If you don't continue to pay property taxes they will foreclose on you.
You are 100% correct. We are all really renters from the government when they tax property.
@@richardtheriault7624 thank you sir,enjoy your videos!
After a couple of nights in a hotel room with you, I completely understand why the snoring cabin is your place to be😂
Purely hear say.
You're renting it for a set number of years before the owner says sell back or move the buildings off my land.
It's been there since 1973. Tell me when the lease is up?
$1660.00 a year for the lease??? Why do they bother...just sell it! It would be much more attractive if you could own the land as well. I am looking for a vacation spot in Northern Maine, but I don't see any benefit from leasing land. Lovely property though.
Awesome...
Great place
Was reading the comments ...trying to see if it was said.. how long is the lease for..and any special terms?
Lease terms in Maine in general are annual leases. Standard legaleze language for P&C the managing company.
$1660 per year. Deal breaker unfortunately...
Nice tour. Thank you, Rick . 😊
I don't have that many friends 😄 very nice
There is still time to make a few more or not.
@@richardtheriault7624 Too old and grumpy now 😁
😂🤣😂🤣😂🤣
The property isn't selling tho,but you said this this property comes with everything here??????
Correct. The seller owns the buildings and holds the lease. He is selling the buildings and other improvements. The camps are fully furnished and the lease will be transferred at closing to the new owner.
Also, are there further building restrictions?
The code enforcement authority for the area is the Land Use Planning Commission, and they would oversee any building permits for further building on the property. Additional construction also needs approval of the landowner prior to construction.
Im interested
Who would buy a cabin on land that you don't own? They might decide not to renew the lease on the land and they take the cabin because it is on their property no thanks!!!
It's pretty common on timber property . I really don't think it happens that often where they refuse to renew the lease .If you research it when you look for off grid really remote most of those lands were bought up by timber companies long ago .
The leases are usually very long. My friends cabin in CA is 99 years.
The lease will be for 99 years. They have been doing it this way for a long time. You can hand the leases down as well.
Hey Rick how do you get to the grocery store?
At least an hour and a half drive to Ellis's Market in Patten from the property.
You need to know how to catch a chicken, brook trout, and deer. Stock up!😂
Hey I am still interested will give you a call before I make the trip there I hope you let me know if you have offers already.
Sale pending.
@@lifestyleproperties so sorry if we liked it could of given a check right then and there.
Please let me know if it doesn’t go through
How is it even legal to sell the buildings on a property but not the actual land I understand if it's a mobile home cuz you can take the mobile home with you and go somewhere else . Basically you're totally at the whim of the land holder. You're basically paying and working to improve their land
Well, don't move to Hawaii !!! Everyone who lost their home in the Lahaina Maui 🔥 Fire are still having to pay their mortgage and hoa fees on leased land. I guess that is the ultimate loss and comes w a nervous breakdown attached to bankruptcy.
Well it is a pretty common practice here in Maine. Not as common as it was 30 years ago, but still pretty common.
@@richardtheriault7624 I'm just confused as to what you're actually buying and if there is like an indefinite time limit that you own these buildings can you move them how does that work . In 5 years can the landowner just be like this is my land I'm taking it back there's a lot of legalities here that in the future video would be appreciated if they were explained at a cursory level
@@kookietherapy9398 it's the rich staying rich
I'm getting Friday the 13th vibes from this property, great place to film a modern slasher movie.
Well it would be really dark there on a moonless night for sure. When a loon breaks the silence of the dark night, it might be a bit unnerving for some.
Ok, not what I was expecting, but yep I could see it!lol!
lol
What is the annual lease cost? And when does the lease end?
The lease is annual and currently $1660/year.
@@richardtheriault7624 so the owner is not going to sign a 10 year or 20 year lease or 30 year lease. If it is a 12 month lease, why would anyone pay $199k and not have the lease renew in one year?
@@ChrisFromMaine207 Chris I don't know what to tell you other than there are 100's of people that have similar leases in rural areas that are for the same 1 year term. The landowner isn't selling the property. The lease owner is selling his buildings and allowing for his lease to be transferred to the new owner of the buildings.
@@richardtheriault7624 interested
👍🏻
This is an "asset sale" not a real estate sale. Very misleading
I was pretty straightforward about what was selling and that the buildings are being sold, and the lease would be transferred to the new owner, which is exactly what happened.
Oh that is my place I want
I could write my books here !
Gotta use air plane to get to it, and it's 200k,wow
Having a plane would be ideal, but you can drive to it.
wild to not be including the land
No thanks. Land lease, forget it. Same with any property dictated by an HOA.
Seems reasonably priced
Basically the logging company still owns the land and you’ll have to deal with that on a day to day basis until winter logging trucks nonstop will be the bane of your existence not to mention the bugs and ticks not worth it sorry to say.
I didn't see 1 logging truck on 3 trips to the property. Not 1. I did pass by 1 active logging operation, and yes the land around it is owned by timber companies and you are allowed onto those 1000's of acres for virtually no money. So what is your complaint?
Leased,he'll no,but nice for people that don't care
Lease lots suck
You own nothing
Lease Prices go up up up up up
Taxes go up up up as well, and do you really own that? Try not paying taxes on property you own for 2 years and see what happens. In reality we are all leasing or renting from the government.
@richardtheriault7624 There are some good questions in the comment section.
Can this lease be passed down to kids, or should their names be on the lease from the start?
I 💗 this place.
Just be OLD, then you can die in peace there and have zero worries once you pass.
@@kookietherapy9398 I am no attorney but I don't know why you couldn't pass it along, there is a transfer form that is filled out for the transfer from one party to another. The owner of the land needs to know who is paying the lease, and where they are located.
@@richardtheriault7624 except in this case BOTH the tax and the lease could go up up up!
Land Lease nope 👎
I looked on a map this isn't secluded this is desolate. I didn't see a road so you've got 20 miles of who knows what.
A little impractical You would have to be quite wealthy and you would need to buy the land and try to fix this up.
I and the owner drive right to the property. No paved roads, but roads none the less. Wilderness area for miles around you. Obviously this is not a property for you.
I think Rick hit the nail on the head that this is a great property for a guy who is an outdoosrman and a pilot with a float plane , This set up reminds me of what many remote Alaskan lake cabins are like .
I like the location but everything about it is nonsensical.
Who wants to spend that much money but not own the land?
The cabin is absolute trash it almost looks like it would have been a camp at some time the way it's labeled.
I would prefer the land and tear everything down and start over this is a hot mess but the location and the views are beautiful.
Obviously not a property for you. Thanks for commenting.