2017 Georgia Power. 180 Dam Road The lake was formed by damming the Oconee River. Our Community & Economic Development organization is supporting leaders in local communities to bring new jobs and capital investment to Georgia. All rights reserved. To help you determine the value of leased lot properties, below are some links to listings in Georgia Power Lease Areas: Georgia Power Area 2 . This permit requirement applies to Georgia Power leases and deeded properties. Do not use without permission. Now I know the truth!!! If you have a question about Lake Sinclair you can leave it as a comment in this post and I'll answer it there too. Is this your business? For conventional mortgages. [CDATA[ */ Central Georgia Lake Jackson Resources Office, East Georgia Lake Oconee/Sinclair Resources Office, West Georgia Bartletts Ferry Lake Resources Office, Electric Transportation Business Programs, Electric Transportation Charging Infrastructure, Selling to Georgia Power as a Qualifying Facility, Georgia Power Shares Energy Saving Tips on National Cut Your Energy Costs Day, Georgia Power Celebrates MLK Day as a day on with largest volunteer response on record, Georgia Power's Michael Anderson appointed to Chair of the Board of Saint Joseph's Health System, Tree Planting Tips to Help Cut Your Energy Costs, Georgia Power seeks recovery of fuel costs, Vogtle Unit 4 completes cold hydro testing, Georgia Power ranked #1 by J.D. Access leases run for 15 years with a current rate of $100 per year. * ACCESS LEASE -The property owners owns the land and improvements above Georgia Power Company which he may have access for use of the lake. 7.11 Acres in Hancock County - Country Acreage on Lake Sinclair - 2-3 Potential Homesites - Located at Back End of Cove - Cove is Directly off Main Channel - Easily Launch a Kayak, Canoe, or Jon Boat - Part of Sinclair Bluffs Community - No HOA or Community Restrictions - Mobile/Modular Homes Allowed - Power & Water Available at Road - Surveyed . Today I had a call asking about one of those homes that is located on a Georgia Power lease lot. Space to dock a boat available upon request. Lake Sinclair is a man-made lake that was created when the Oconee River was dammed by Georgia Power. }; Access lots contain a portion of shoreland which is owned by GPC in fee. I would think any caller phoning in and being able to get this kind of info would have been super impressed and hired you on the spot! Lot has been cleared and has a temporary power pole in place. The land between 350 feet above sea level and the shore line of Lake Sinclair, which is 340 feet above sea level belongs to Georgia Power and you pay a lease fee. Fannie Mae requires that the term of the leasehold estate must run for at least 5 years beyond the maturity date ofthe mortgage unless fee simple title will vest at an earlier date in the borrower, a homeowner's association, or a co-op cooperation. Richard- I've had people swear to me they "had" a 99 year lease, but no one has ever produced paperwork saying anything but 15 with a first right of refusal renewal clause in it. * RESIDENTIAL ACCESS - The property owner owns the land above the Georgia Power Company property, but the home site is partially or totally on the Georgia Power land. 125 Wallace Dam Road A fee simple buyer is given the title (ownership) of the property, which includes the land and any improvements to the land in perpetuity. Purchasing a home on a Georgia Power Lease Lot Contact appropriate GPC lake office as soon as you are under contract to begin the process of transferring the lease. A new as-built survey may be required to transfer lease. Bob- in our area only certain local lenders will do some of these. A boat ramp, picnic area, walking trail, and banks to fish from ensure a great time whether you are an avid fisherman or teaching the kids how to fish. Logos and photographs may also be copyright registered. . This is an example of why a LOCAL agent is so important. Enjoy seasonal duck hunting or deer hunting. What happened with the caller? Call me today for all your Lake Sinclair real estate needs. Write posts that last forever aka evergreen, Avoid the rant, blogging and on social media. There is a $5 parking fee. Tammy what great information, many buyers are not familiar with. $200,000 USD: Beautiful Lake Sinclair waterfront lot with panoramic main lake views. A new as-built survey may be required at time of transfer. Is it a residential lease or access lease? We always have water at lake sinclairLake Sinclair stays full even during droughts. Copyright Lake Country Board of REALTORS. The lake is large enough to enjoy all types of on-water recreation. There are four types of ownership for property on Lake Sinclair. Very common in England but not in the US. I like to have as much information available on line as I can. Lake Oconee and Lake Sinclair are both relaxing and rejuvenating. Fortson, GA 31808 All content belongs to me unless otherwise stated. Fortson, GA 31808 We look forward to working with you to make your lake experience an enjoyable one. Contact appropriate GPC lake office as soon as you are under contract to begin the process of transferring the lease. This is a great explanation.. and it is important for buyers to know the difference and what the pros and cons may be so they can make an informed decision. The tool calculates the real-time peaking schedule of our hydro units and additionally pulls the real-time lake elevation. Check with the applicable school district prior to making a decision based on these boundaries. Disclaimer: ActiveRain, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. Your email address will not be published. This portion of the property will not be described in a legal warranty deed as its separate and apart from the fee simple property the owner is purchasing. It's all about educating the buyer about the type of property and how it will effect their purchase. Shop LEDs, Smart Thermostats, Advanced Power Strips and More. 706-322-0228, Office180 Dam Road Georgia Power owns the land and leases the land to the owner of the improvements. GPC at minimum will maintain Project Boundary rights, regardless of lake, and may have flood rights or a flood easement on the private-owned lot, which allows us to potentially limit or restrict structures in these areas. Some of those lease lots have homes for sale. So yes, there are pros to them too. You can always call them to verify the current information at 706-485-8704. }, About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. ga('send', 'pageview'); An annual fee applies. 1,523 were here. Our customized website is continuously optimized for performance so that we rank at the top of internet searches, We have a strong following on social media sites including. Show only listings with virtual tours. If you have any further questions please feel free to call me.Different types of lot ownership on Lake Sinclair can be confusing. Operated by Georgia Power, Lake Sinclair came to life in 1953. A short explanation of the 4 types of ownership: It may sound a bit complicated and even be confusing to you after an explanation. (Directions) Guess who made them stop. We are there before, during, and after the sale. Fee simple is sometimes called fee simple absolute because it is the most complete form of ownership. Lakemont, GA 30552 These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them (Directions) Southern Company. Georgia Land Company 2 Acres : $250,000 2 Acre Commercial Tract on W 12th S Alma : Appling County : Georgia Kyle Cato : Carter Group 2 Acres : $78,500 24 Lots In Beautiful Subdivision Perry : Peach County : Georgia Coldwell Banker Free Realty 5.70 Acres : $54,900 Room To Grow Lyons : Toombs County : Georgia Olmstead Properties 0.78 Acre : $150,000 Georgia Power does own some of the land and lease it. What's the reason you're reporting this blog entry? 404-954-4040, Office4 Seed Lake Road // Custom JavaScript (Pre) ga('create', 'UA-99921541-1', 'auto'); The yearly lease fee is $900 at this time. Eatonton, GA 31024 Are you sure you want to report this blog entry as spam? An annual fee applies. [CDATA[ */ There are typically 190 lake homes for sale on Lake Sinclair at any given time. Are you sure you want to report this blog entry as spam? This can include but may not be limited to bathrooms, boat docks, fishing piers and picnic areas. 184 Sinclair Circle, Eatonton, GA 31024 . sellers in the area. Thanks. Lakemont, GA 30552 But sometimes power is overshadowed by control. Broker License # 169695 Lane Realty License # H-11420. Carport with attached workshop is plumbed and could become a small apartment. may encroach over this property line. Beds: 3; Jackson, GA 30233 Endre- that's my in laws favorite anniversary destination they should visit again soon. Created by Georgia Power in 1953, Lake Sinclair is two hours southeast of Atlanta making it easy access for fishing, tournaments, swimming, boating, camping, and has several marinas for the convenience of visitors. For leasehold properties, the Georgia Department of Revenue taxes Georgia Power for their land holdings. I was told only one, but wanted to confirm. /*