Maximizing Profits with 1031 Exchanges and Navigating Real Estate Surveys and Septic Systems

Ever wonder how savvy investors sidestep hefty capital gains taxes on their properties? Our latest episode is a treasure trove of insider knowledge on the 1031 exchange that could keep more money in your pocket. Joined by a seasoned expert, we navigate the legal labyrinth of swapping investment properties and second homes, revealing the potential for substantial tax savings. You'll learn why direct handling of sale proceeds is a no-go and get acquainted with the critical timelines and rules for identifying new investment properties. If the ever-changing real estate regulations seem daunting, this episode sheds light on recent flexibilities and how they can work in your favor.

On a different note, we venture into the world of land surveying and septic systems—unsung heroes of real estate transactions in areas like Buncombe County. The conversation pivots to the perks of professional surveys and soil scientists in streamlining septic approvals, complete with anecdotes illustrating the power of collaboration in land partitioning and sales. We also glance at the LandGlide app's transformative impact on understanding property lines. Then, hold onto your hard hats as we recount a friend's startling attic revelation during a home inspection, underlining why a thorough look-over isn't just due diligence—it's essential. Whether you're a real estate aficionado or just dipping your toes into the market, this episode is packed with practical insights and colorful stories to guide your journey.

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Transcript

Speaker 1: 0:00

Hello friends, Thank you so much for being here. This is the George Real Estate Group podcast, which is a production of our live weekly radio shows hosted on multiple radio stations here in Hendersonville, North Carolina. The George Real Estate Group serves Western North Carolina and Upstate South Carolina and it is a privilege to share positive news about our local real estate market and community. Thanks so much for subscribing and, of course, if you have any real estate questions or if we can help you in any way, be sure to reach out. Visit us at georgerrealestategroupradiocom for more information.

Speaker 2: 0:39

Hello everyone. We know what that music means. It's time for the George Real Estate Group radio show.

Speaker 3: 0:49

I've heard that song now three times last week.

Speaker 2: 0:52

You're getting real familiar with that. I might have to put that on my playlist. Phillip Trees with the George Real Estate Group. How you doing, friend.

Speaker 3: 0:59

Doing good. Sir Randy, I appreciate you so much Filling in for Noah. That song has become one of my cues for this past week. Saw you last week.

Speaker 2: 1:10

I know it's good to have you back, man, because last week we were pretending to be accountants. No, we weren't. We make all out front, we are not.

Speaker 1: 1:24

No, we're just learning and we're just talking about it, we're just kind of exploring it. What?

Speaker 3: 1:27

was it.

Speaker 2: 1:28

we talked about the 1031 exchange, yeah.

Speaker 3: 1:30

You know that's really neat. Oh and, by the way, I found even more information, this one company, and we'll tell you who it is and we'll help you out. At Georgia Real Estate Group, if you want to do a 1031 exchange, the exchange, uh, the company that I've been researching and looking at using for a client, possibly, uh, the big question was I thought was a good question what are the fees? I mean, what does it cost, which is true, they don't do it for fun. You got to consider that yeah that's good, that's a good point.

Speaker 3: 1:53

So this company that I happen to be working with to get, uh, what are the parameters of a 1031 exchange? And uh, it wasn't too bad. It was like 900 bucks up front and then then, once the transaction's done, it's another hundreds of dollars. I mean it was under $1,000. So I mean that's not bad, considering you may be saving hundreds of thousands in taxes if you don't do it.

Speaker 3: 2:16

Yeah, do the bottom line so hundreds of dollars for the fees to pay this company, which is the third-party company, a 1031 exchange company, is just what they do. They exchange it, they hold it. That's the key thing which I learned too At a closing we talked about. We're quick review. You know, a 1031 exchange not for your primary residence, mostly it's for an investment property or a second home or a second property you own that you don't live in Gotcha. And when you sell it, obviously if you sell it around here, if you've had it for two or three years, you're going to have a profit. Right, we all know that. You're going to have a huge profit, which is great. Capital gains, yeah. But guess what? If there's a profit, it wouldn't be great if we just have that profit to ourselves. But no, somebody else has to profit and that's the.

Speaker 3: 3:06

IRS. So they're going to profit from it, they're going to profit from your profit, so they can take up to 30% or something, tax off the top. But if you, at the closing of that property, a secondary property that you're going to be selling, if you touch the money after closing and it's too late, then you can't touch your hands, which makes sense because the government needs to know you haven't touched any of the profit yet. It goes to a third-party holding company. It's in their responsibility, which is smart.

Speaker 2: 3:39

It's up to them.

Speaker 3: 3:40

They hold it. You find the exchange property to put that profit you gained from the sale Within six months. Well, you get 45 days to pick three, 180 days to then close on one.

Speaker 2: 3:56

Okay.

Speaker 3: 3:56

Yeah, and then when you close, then that company again, you don't touch it again, which is kind of nice and it puts you out of the mix. They handle it. Then they pay for that property at closing and it's not touched your hands and you've saved 30% tax capital gains tax on that transaction.

Speaker 3: 4:13

I mean that's a minimal cost to pay to this holding company and there's a dime a dozen out there, but we happen to use one and we'd be glad to help you know about the one we've used. Before that I've I've had a client use and uh, and working with someone to get some information been very nice. Actually emailing the vice president, I think that's kind of been kind of nice. So it's a neat program. 1031 exchange okay call us.

Speaker 3: 4:37

We'd love to talk to you more about it, that's, if you have a secondary property that you're not living in.

Speaker 2: 4:43

Can't be your primary residence?

Speaker 3: 4:45

Can't be your primary residence?

Speaker 2: 4:46

Can it be a business?

Speaker 3: 4:47

Commercial. They've really loosened it. It's so nice. It used to be kind for kind, same for same, like for like. It was really strict and it wasn't really fun.

Speaker 3: 4:57

I mean, in a sense it limited it. Now it's really. You can sell a condo in Florida and buy some land up here, and let me tell you that is a good investment. I'm sure that's happening a lot, isn't it Great? And maybe you had a condo that you were renting, let's say, south of here, and that's fine to do when you're in a group. Maybe it's got to the point where because who gets the calls when something goes wrong when you're renting a condo?

Speaker 3: 5:22

It's you and you're having to fix that and fix this and maybe you're just tired of that. Well, land's a good investment because unless a tree, unless one of your trees falls over somebody's driveway, that's about the only thing that can happen with land. There's no maintenance, Right right, but it's a great investment for the future. And, to segue into, I've had some land sales recently myself. Oh yeah, it's really picked up. I'm not sure why. Maybe the fluctuation in the market or other ways to invest is not turning so good, but I had 30 acres plus. I sold in Old Fort, beautiful Natural spring coming up out of the ground.

Speaker 2: 6:07

Really.

Speaker 3: 6:08

Like Beverly Hillbillies. It wasn't black gold, it was clean water coming up out of the ground on this 30 acres and it's five minutes from Old Fort. Old Fort's the new Black Mountain.

Speaker 2: 6:18

Yeah, the gateway and rail service is really looking good to be returned to Asheville and Old Fort will be the welcome to the mountains.

Speaker 3: 6:28

Oh, can't that let's go, let's go, you and. I need to start talking around some doors and making some action down there, Because it's neat down there. They got some breweries by the river. They got coffee shops. You know it tanked with that textile stuff that moved down. Yeah, and it was rough kind of down there slim pickings and now the land is just beautiful. It backs up to that Pisgah a million acres.

Speaker 2: 6:54

Oh really.

Speaker 3: 6:55

The government owns all the Pisgah Forest which is on that side. Pisgah Forest, all that national land, is amazing. It buffers all that. You know Curtis Creek, clear Creek, all those feeder creeks out of there, basically coming out of the Mitchell Range. It is just a beautiful area but I've got some property that I've sold recently down there and some land. You know it's been very. I've seen an uptick in this land.

Speaker 2: 7:23

Yeah, how's the financing situation situation, or are you dealing with everybody's cash well?

Speaker 3: 7:29

some of us cash, most most of us cash. But uh, one of the lenders that we work with uh in-house at our firm, uh, they have, they have land they have their loan on land, and that's, that's a great option too it is, and some folks are doing it not so much. I mean, they're getting the land not to then build a subdivision of 14 homes. They're getting the land. A lot of them are just a place to go, hang out and camp.

Speaker 2: 7:52

Really which kind?

Speaker 3: 7:52

of makes it nice. They come. I mean you think about it. They could come to the mountains and camp and then go down the old fort and tool around and go see Linville Gorge or go see, and so it's kind of a nice place. Go see Linville Gorge or go see, and so it's kind of a nice place. Or maybe they might put a little barn on it or a little.

Speaker 2: 8:08

not go crazy with it, but just make it fun Glamping or something. Glamping, it's kind of neat, yeah, yeah.

Speaker 3: 8:13

So both sides it works both ways. If you've got land and you're just ready, maybe you're ready to get a little contact. Talk to us. We'd love to get with you. That I'm working with that has started out on its own. That's key.

Speaker 2: 8:32

Surveying the surveying. If you're buying or selling raw land, make sure it's surveyed.

Speaker 3: 8:36

You've got to get the survey. Yeah, you may have an encroachment situation, you may have an easement situation. So it is best and also, if you want to look at doing the septic and getting the permits for that, see, the county office won't touch it to come out and give you a permit or inspection for a septic if they don't know the line, if they don't have the lines designated by a survey. We ran into that. I had five acres that I was selling out in uh you know that neat number nine.

Speaker 2: 9:05

I mean that's a whole neat area number nine into uh chimney rock and across black mountain that road.

Speaker 3: 9:12

That is cool, man cut off forgotten area yes now that is neat and sold five acres lickety split out there, I don't doubt it. But it was hadn't been surveyed and it was going to be a separation from our existing property. So it's kind of neat. Folks had more property than they wanted. Right, that was a good option and it was kind of neat. Folks had more property than they wanted. That was a good option and it was a great fit.

Speaker 3: 9:34

Noah helped me. Noah walked me through it. What we did was we listed it as owners of this property are partitioning off X amount of acres Five acres, five acres off what they and so we had to survey that and we did a deal where we were going to work on the survey together. It worked out great. Both parties won in the sense of both worked at getting it surveyed. And then, once it was surveyed, then the county because that's Buncombe County up in there some places and they came out and then got some ideas about where the septic could be for the home, and it was just a great deal, but the surveyors were busy could be for the home, and it was just a great deal, but the surveyors were busy, and that's a sign of what's been?

Speaker 3: 10:16

yeah, hot in the market yeah, is is land and soil scientists. You know that's a neat little thing I've learned too with. With real estate you can go two ways. If you get land to, then if you want to put a home on it you're gonna have to have septic. Yes, of course you gotta have water. Then you got a place where the other water goes. So wells are pretty much. I'm not anywhere near knowing how to do a well, but pretty much these here mountains. You get to the granite. It's amazing they find water. It's just unbelievable they find good water.

Speaker 3: 10:45

Now the septic can be a challenge. Obviously. The slope, the culvert, you can't have a gully. But the way you can go is you can go with the counties and set up a septic inspection where they come and do a permit and they need test pits dug. They need where you're going to do your uh drain field things like that. There's all those things. Uh, in the industry, soil scientists are now the private firms that come and do that themselves. They do it all turnkey and what they their report. Then the county approves it Based on what they find. Now it's twice the cost. Usually that's fine because it's twice as quick.

Speaker 3: 11:30

Yeah, they know what yeah, they know how to do it. The county gets you. Imagine the county gets backed up.

Speaker 2: 11:36

Of course.

Speaker 3: 11:37

So they'll get to it eventually. But the soil scientists, they're independent. They go to the site, they test the soil, they do the pit, they get it all, they write it all up and county says looks good to us, that saves us a trip Sign.

Speaker 2: 11:51

They write it all up and county says looks good to us.

Speaker 3: 11:52

That saves us a trip. Sign off on it, boom, sign off on it. So it's kind of neat, you can go with a soil scientist. Right, or you can go with the county and I've learned that with some of these land situations.

Speaker 2: 12:00

That's amazing.

Speaker 3: 12:01

With putting in a septic. Now again, you don't have to. You can buy thing right off. I mean you can build a home cabin on it eventually. But there's some little things, hoops, you have to jump through, and then of course the well has to be 100 feet above the septic. You know all that. It's neat things to learn, all that. But survey and septic SS is really key.

Speaker 2: 12:30

Okay.

Speaker 3: 12:34

Survey and septic are key with looking at a property, checking it out, seeing, well, is there a room where the dream home would be, is there room for the drain field below here where the house would be? And then we put maybe a well up there. You've got to kind of scope it out. And then your trusty George Real Estate Group realtor always has LandGlide on the app. Tell me about LandGlide. So LandGlide is you? Go to LandGlide and you'll love this. I'm going to even show where you're at here. So LandGlide is the app that every George Real Estate should have. It shows exactly every property in the country. Wow, and you're the blue dot and all you do is follow the blue dot. And so when you're the blue dots, I'm going to find us. I'm going to be over here. That's where I live, that's over there. We were talking with mills gap. Let's find us. We're going to be in hendersville and there's a blue dot and, sure enough, it looks like we're on a property called that's in detail too, man.

Speaker 3: 13:30

Oh, it's right it's right there, right there at the corner. We're at the property, here we are.

Speaker 1: 13:33

I love it. There we go.

Speaker 3: 13:34

Land glide, there you go Land glide, I'm going to download that. And that's when you're checking out a property, you're with your client and you're walking the line. Right there, the satellite and the client can see. Well, here's the barn and it's 50 feet into yours. That might be an issue. Well, you can go into it knowing. At least you can go into that knowing.

Speaker 2: 13:57

Right right.

Speaker 3: 13:58

You can work with it, hopefully before you get in Things like that, that your realtor myself can help you with an app. You don't have to pay the $10. We pay it. It's a write-off. Hey, I get this app every month and it's a great tool for looking Even looking at a home. You see where the lines are at. That's always so helpful. But for land I hiked at 30-plus acres in.

Speaker 3: 14:26

Old Fort With that. Hadn't had that, I wouldn't be here today. Today I'd probably still be lost up in finding what was it bill. Who was it wilson? Who was the mountain mitchell?

Speaker 2: 14:37

john mitchell mitchell. John mitchell big tom.

Speaker 3: 14:41

Wilson big big tom wilson, I would have been up there picking banjo with him, probably somewhere and been lost and never found me had it not been for the land glide the blue dot I knew where I was on that 30 acres and what I did was you'll like this, ray, for my clients that were out of town.

Speaker 2: 14:59

Okay, Out of town folks. They don't live here.

Speaker 3: 15:02

I was there for them and I would take a picture of the blue dot and then I would take a picture of where I was. That's amazing, and I took a picture of the blue dot at the spring. I'm here, I'm here and I took a picture of the spring, and then I was able to send that all to them.

Speaker 2: 15:15

That's amazing.

Speaker 3: 15:16

Miles away in the comfort of their home. They looked on the pictures and they said well, there's that and that's where he's at.

Speaker 2: 15:21

He's at this corner, he's at that.

Speaker 3: 15:23

Here's the top of the ridge tools available to help you with either homes land. But yeah, we're glad to help in many different ways.

Speaker 2: 15:37

That's amazing, Phillip. You talked to me earlier. When you come in, You've got some business and commercial property also for sale and listed with George Real Estate Group right.

Speaker 3: 15:51

Yeah, we've got a few listings within our house.

Speaker 2: 15:54

Yeah.

Speaker 3: 15:54

We've got some listings. We've got a little home here. It's a 3-2 on Airport Road out in Flat Rock. Now I first thought it was Airport Road Buncombe County, but it's Airport Road Flat Rock.

Speaker 1: 16:06

Okay, I forgot there's two Airport Roads. I've been there too.

Speaker 3: 16:09

Yeah, Isn't that neat and I forgot there's two Airport Roads. I've been there too, yeah, and that needs to. It's a 1962 house that our agent John has got out there in Airport Road. Let me see if I can find another one here. My internet's a little working. I'll just tell you we've got a little lot on Holiday Drive. It's a nice little lot that one of our agents has. It's got a little stream on it and Holiday drive, that's kind of out again South Henderson County in there A little development.

Speaker 3: 16:32

That's kind of nice. I've got one listed up at the Cloisters. You know, buncombe County, the Cloisters yeah, I've been by there. Where is that Next to Buncombe County, muni Golf Course.

Speaker 2: 16:46

Oh, okay, gotcha. Gotcha Isn't that neat, that's a good little golf course.

Speaker 4: 16:50

East Asheville East Asheville.

Speaker 3: 16:51

Yeah Handy, the Cloisters are like what the Wolf Pin is for Henderson County.

Speaker 1: 16:57

The.

Speaker 3: 16:58

Cloisters are nice two-bedroom, two-bath condos with the whole clubhouse thing, pickleball, the whole thing, and you can walk to the golf course from there. And then Biltmore House is seven minutes away, right, it's a great spot. So I've got a condo in there and the maintenance fee, the HOA monthly fee is very affordable.

Speaker 2: 17:21

Okay.

Speaker 3: 17:22

Now they don't allow dogs, they allow cats, but it's still a nice condo. This condo I've got has got a custom kitchen, it's first level. It's got a new HVAC system. Oh yeah, so it's turnkey.

Speaker 2: 17:35

Yeah.

Speaker 3: 17:36

Love to talk to you about that. Here's another one. Well, let's see, patty's got this. She's got a nice one on Foster Hill Drive, hendersonville, and it's a nice home. It's a 3-2, 1,300 square feet 1986 house, so home. It's a three to 1300 square feet 1986 house. So it's the schools. You know, at atkinson, flat rock, my alma mater, the best high school in the country, east henderson, you know it's got all those. It's in blue ridge estates, nice home she's got out there. Um, let's see, as I'm waiting for the next one to load, I'll tell you about.

Speaker 2: 18:04

I don't mean to be vain, but I got another one that I'm please tell us all yeah, I've got a little interested, I've got a lot up in Kenmure.

Speaker 3: 18:11

Really Very few left Raw land. Raw land it's at the top of Overlook, it's off the rock. They call it the Rock of. Kenmure, you know up top there, I've never been up there?

Speaker 3: 18:24

I hadn't either when I got up there. This lot up top on Overlook, which bears off to the right as you're off the course heading towards the big clubhouse with Kenmure Overlook heads off to the right and goes up to the top of the ridge and then it circles back, comes back down behind the clubhouse. Overlook up. There is one of the. You know, anything in Flat Rock on a mountain is going to have the Carl Sandburg granite. It's going to have a rock it's going to have the granite.

Speaker 3: 18:50

You know how one of the weather guys always talk about the Blue Ridge Escarpment. Yes, because the weather comes in from the southwest and through the years, these old mountains has wiped the dirt, I think from the south, wiped the trees and dirt, and all that's left is the granite. These granite faces are beautiful, aren't they Looking?

Speaker 2: 19:12

glass, they really are. Hello, the hike up to glassy, oh, glassy Just gorgeous, I mean.

Speaker 3: 19:20

so this is a glassy in Kenmere, Okay.

Speaker 2: 19:23

I got you.

Speaker 3: 19:25

It's the glassy.

Speaker 2: 19:26

I see how that Rock face yeah.

Speaker 3: 19:28

So I've got a lot up top there acre and a third. Now Noah is working on it for me. With that lot I have acre and a third, a land home package, working with an architect and a builder.

Speaker 2: 19:41

He told me about that, did he?

Speaker 3: 19:43

Yes, excited about that.

Speaker 2: 19:45

Excited about that Now, so you access this through Kenmure right Overlook Road in Kenmure.

Speaker 3: 19:51

Okay, gotcha, yeah yeah, and again the HOA. Now it's a little high, but of course what you get for it is beautiful and it's tiered. You can spend a lot more if you want, for a lot more things in Camere, or you can get the basic, but it's beautiful. Obviously it's a beautiful historic development of all time.

Speaker 3: 20:09

I agree, it's beautiful, yeah, but this lot, the view would just be, and the rock is there. It's a really neat thing, oh man. So check out that. I've also got one, 2118 Lamb Mountain Road. One of our agents has and it's a nice investment property. You see what's the acreage on that? It's got 3.5 out on Lamb Road. So that's Edney Village.

Speaker 2: 20:34

Okay, yes, yes.

Speaker 3: 20:34

I know where you're talking about Lamb Road, and it's got a creek and it's three and a half acres and it's got a little manufactured home on it. So this is unrestricted out there too and home on it. So this is a it's unrestricted out there too and it's a little two bedroom, little farmhouse, you know type thing, a little ranch home, uh, that they've kind of added on to. But, uh, great place for some gardening and with three and a half acres you could add a little dwelling things like that. So that's a nice little uh property we've got listed out there. Nice area too. Yeah, that's a great spot to be in. So got that one out there. I've got a couple lots left in Canuga Ridge. Okay, that's a nice little Canuga Lake Road where the Canuga Conference Center is, on the right.

Speaker 2: 21:21

Okay.

Speaker 3: 21:21

Before it turns into Crab Creek. Take a right and you've got that mountain bike park now out there, and DuPont's what Ten minutes.

Speaker 2: 21:30

Yeah, you're right on the way, we're on the way.

Speaker 3: 21:33

Or the back Evans Road back way can take you into Etowah Wow and then you can hit the Acosta Trail from there Evans Road. Canuga Ridge has got some nice lots in there and I've sold four in there and they're nice under-acre or about an acre lots, very private, low HOA, $300 a year with a home oh really $300 a year for a home.

Speaker 2: 21:59

That's nothing.

Speaker 3: 22:00

That's great. Hoa cost and minimum build $1,700. That's not bad cost and a minimum build 1700. That's not bad. No, they. They allow modulars. Okay, stick built and I've sold a few in there. They're. It's real private. It's a beautiful development on off evans road out there and if you're in the but you could literally ride your bike to the canuga uh bike thing.

Speaker 3: 22:24

They trail yeah that one they have. They have a little park out there. It might be a cost to that one to get in, possibly, but of course DuPont is around the corner.

Speaker 2: 22:32

Yeah, and like you said, the Acosta Trail close by.

Speaker 3: 22:37

That'd be a great second home type development to move into and build a little second home to come up and ride the bikes in certain parts of the season when the leaves are beautiful or when it's cool in the spring. You know a lot of recreation available nearby, of course. You've got you know it's near Flat Rock and you've got all that so nice little properties up there. So, yeah, so our firm, we've got a few we'd love to talk to you about just under our roof the Georgia Real Estate Group.

Speaker 2: 23:09

We brought it up and I don't think in our closing minutes we can talk a little bit about the Acosta Trail or just bring it up. I know you've already begun to see development along that path and it will continue. What an opportunity.

Speaker 3: 23:24

Yeah, what an opportunity. It's going to be a great thing. I mean sure, I mean it really is Talking about it. It's going to be a great draw for a lot of people. Yeah, and I say that's a good opportunity. If you've been thinking about maybe downsizing, you've got some property. Any property on that stretch is going to be really desirable.

Speaker 2: 23:48

Yeah.

Speaker 3: 23:48

So we'd love to help you with that. And, like I said, we can prep a property like none other. And let me tell you that's where all the work of the realtor goes into is getting a property ready. A lot goes into it and we've talked about pre-inspections To get ready. You make sure the survey's all good. You make sure the survey's all good. You make sure the deed's good. If it was an estate situation, there's a lot to that. You've got to make sure it's all a go with the probate and all that. And then we help the seller. Like I said, we've talked about the pre-inspection. That can help a long way in making it a lot smoother in selling a property if you go ahead and do a pre-inspection, and making it a lot smoother in selling a property if you go ahead and do a pre-inspection. I tell you we've talked about that over and over I'm leaving here and going to a buyer inspection we're having to do, you know, for a property west of Asheville.

Speaker 3: 24:39

So I'm going to that and, like I said, it's going to be an involved process. Yeah, but we're having to do that. You know, it would have been nice if the seller already had it done. Yeah, but then we in due diligence, we help buyers. Then you inspect it, you take the car for a test drive yeah, and if you're buying a car you take it for a test drive. Usually you go to your mechanic you trust, yeah, and you say, say I'm just going to drive this around on the parkway when you really head down to your buddy that knows cars exactly check this thing, check this thing out and house parkway.

Speaker 1: 25:13

Oh, it's beautiful yeah, it's a great drive.

Speaker 3: 25:15

Yeah, you just went around the corner to the garage and put it on the lift. So that's what you do you put the house on the lift and you really you look from the top and crawl spaces we're running into situations. I've run into some. And crawl spaces we're running into situations. I've run into some.

Speaker 2: 25:27

Oh man.

Speaker 3: 25:27

Crawl spaces. These mountains are beautiful, but the water, which we love, is right underneath us and it's moisture, and you've got creeks and these crawl spaces.

Speaker 2: 25:39

They take a lick and these crawl spaces capture and I don't want anything to do with them. You know I want to make sure they're okay, but I don't want anything to do with them. You know I want to make sure they're okay, but I don't want to go down there and do it.

Speaker 3: 25:51

I don't want to go. Look, I'm afraid I always get a flashlight. Am I going to see two eyes looking at me? Or you know, I see more than four eyes. I'm in trouble. But crawl spaces and now there's a whole industry. They make these crawl spaces like a living area.

Speaker 2: 26:07

I mean we should say.

Speaker 3: 26:09

We should say Randy, they make it a lying area. You can't stand in them. Yeah, but it's kind of like the Roman, you can lie on your side and pull in there yeah, it's literally thick membrane in there right crystal clean. It's dehumidified, they're, they're clean. They make these things now, these crawl spaces.

Speaker 2: 26:29

It's nice, it's great for storage and great for your health. It cleans the air up in your house. Bingo yeah, I'm a total big fan of that, Isn't it though?

Speaker 3: 26:40

Yeah, so important.

Speaker 2: 26:43

But that inspection and I'll tell this story and then we'll switch over to feed and seed. But I had a friend in Burke County who bought a house without an inspection and upon occupying that home and getting into the attic found 14 five-gallon buckets that were full of water. Oh no, the buckets had been put in the attic to stop the rain to catch from a roof. That's the kind of thing that can happen if you're not represented.

Speaker 3: 27:18

Randy, you are preaching, you are preaching.

Speaker 1: 27:20

I'll bring you on Sunday morning.

Speaker 3: 27:22

You are preaching. Good North Carolina we've talked about the extent as is Buyer beware. Seller does not have to do or disclose one thing with the home that they are selling. That's okay, I mean, that's straightforward, At least you know. And so then buyers are just encouraged at all costs During due diligence do all the inspections you're able to do.

Speaker 3: 27:49

Do all you can Check it out. Absolutely. 30 days usually is the time period and you work with your agent and we set up all those inspections and we do it to make sure we find out everything we can know, and that's fine. And then the process again. It's kind of now back and forth.

Speaker 3: 28:06

You say, well, I do safety first. If there's a safety issue, we plead, we do say with the sellers, and most times I attend the seller will then realize, hey, we've got to fix this electrical that sparks flying from it. And this new young couple with a baby is buying the home, obviously. Or they have a nice little dog, you don't want to endanger anybody. So yeah, we'll fix the electrical.

Speaker 3: 28:33

So there's a little back and forth. But they don't have to. But then the buyers don't have to either. Yeah, now they're going to lose a due diligence deposit before those 30 days if they they leave, but that's a small price to lose compared to what they're going to have to do to fix it. Yeah, or if something happens. So it's a give and take. That was wise, North Carolina, I mean, even though it has a lot of regulations. They didn't just pick them out of a hat, they thought it through and that's a good benchmark. It's a good place to start where sellers don't have to do anything. It's as is. It puts the burden on who it should be.

Speaker 3: 29:13

Yeah exactly Because if it was on the seller's hotel, well, they would forget something. Versus saying nope, don't have to do anything, that's fine, that's a good place to start. Yeah, zero. Then the buyer can then do all the inspections, find out anything they want. So that's good. It's a kind of it works, it evens up.

Speaker 2: 29:30

I'm sure you've seen that happen, yeah, well, hey, let's talk a little music about feeding seed and what's going on at the great place.

Speaker 3: 29:39

Oh, we're getting back started with our music on Friday nights. Of course, we do church on Sunday mornings at 11 am. We've been doing that since 07.

Speaker 2: 29:46

Yeah.

Speaker 3: 29:46

And I've got good news to report from last week the roof is under contract to be fixed. Oh, I was glad to hear that, so we did have a little natural waterfall at feed and seed, sometimes when it rained Natural waterfall. We had a natural little stream of water coming through.

Speaker 2: 30:05

Oh boy.

Speaker 3: 30:06

That was kind of of. I was a little concerned hard to deal with. Yeah, our deal was so talking about the buckets in the roof, that wasn't been my life for two months.

Speaker 3: 30:14

Yeah, it's buckets yeah, so uh, I I didn't realize what a jacuzzi pump my brother, let me borrow okay come in a little jacuzzi pump, save the day. I mean, those things are the neatest thing, that's cool. I couldn't believe that I could have a 30-gallon garbage can plus catching the water from upstairs at V&Z. But you put this jacuzzi pump, which I still don't understand. How you have electric cord.

Speaker 1: 30:40

I said this don't work.

Speaker 3: 30:41

I said I'm going to trust him. My brother knows he's mechanical, he knows this stuff. And I said, okay, I'm either going to die or I'm going to put this jacuzzi pump in this water. And when I put it in there, it sucked it right out and I had it going out the third-story window and I had a fountain going out for Fletcher yeah, on the side of the building, but we're under the landlord's, so gracious they're getting a roof.

Speaker 3: 31:03

So the landlords, so gracious, are getting a roof. So we've already had two bands. We've got a band from Virginia coming Friday. Oh yeah, harlan County Tomorrow night. Tomorrow night, harlan County, grass is coming at 7 o'clock, harlan County.

Speaker 2: 31:14

They're going to be real.

Speaker 1: 31:15

That even sounds good. They're as good as it sounds. It does I mean anyone from Harlan County.

Speaker 3: 31:19

That's not Harlan Kentucky and they do. It's an underrated band, I tell you. They do a great job of all your classic bluegrass at 7 o'clock Fantastic 7 o'clock tomorrow.

Speaker 1: 31:33

Free, free, give a donation to the band.

Speaker 3: 31:35

Put some cash in the bucket, it all goes to them. Rc Cola and Moon Pies for $2 each Popcorn and it's just really neat and we do church on Sunday and it's just a great build. That just uh, just uh. Keep that building, uh, in the dry. It's been worth it yeah, because it and we seat 150 people and got comfortable seating and we'd love to have you come out and warm welcome.

Speaker 2: 32:03

It feels good there it sure does well, philip. Thank you so much. We got to run, uh. I always enjoy sitting in with uh, you and and uh filling in the show here, and noah will be back with us, I guess next week, and uh, but. But it's always a fun time, so have a great day, my friend.

Speaker 4: 32:20

Thank you so much, randy hey guys, it's lucy miller, george your favorite nine-year-old and I'm here to talk about the George Real Estate Group. Are you ready to sell your home and move on to bigger and better things? Well, let me tell you my family knows a thing or two about selling houses. We have the experience of helping over 1,300 families and, let's be real, selling your home is a big deal, but with our expert guidance and our terrible dad jokes and Lucy jokes, we will make the process as easy and painless as possible. Want to hear a joke? Why did the real estate agent cross the road To get to the other listing? Okay, maybe our jokes aren't the best, but our selling skills are definitely are. Give us a call today 828-393-0134. Have a nice day.

Speaker 2: 33:21

Thank you for listening to the George Real Estate Group podcast. Tune in next time for more industry news updates and real estate tips. You can reach Greg, the George Real Estate Group, at 828-393-0134 or at realestatebygregcom.