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Tales from the Real Estate Crypt...Read if you Dare.

I've received some interesting Tales for our Real Estate Crypt.  

Thank you for scaring me half to death! I plan to share them all with you.

 

B E W A R E . . .

 

 

Let's begin with one of the most common nightmares...the dreaded and commonly misunderstood septic system. It's a mystery to most, even to those who own one. For some it's become a huge nightmare.

 

This is the story I hear over and over again. If you have a septic system or you're considering buying a house with one you should read this.

 

House goes on the market, priced right, buyer comes along right away, makes an offer, negotiating happens and the contract is finalized. Seller and buyer are excited and ready to move forward. Seller never tested for Title V. They just didn't know! Test for Title V happens. The system fails. This triggers a percolation test and septic design process that can take 2-3 months, or longer! Then there's still the actual installation! If you were the buyer, what would you do? Could you wait? Do you have a house to sell that's also under contract bound by dates? Where will you live in the interim? Would you just walk away and buy a different house? If you're the seller, you could lose a good buyer. If the buyer needs to get a mortgage to buy your house (not paying cash!) you will have to escrow one and a half times the estimated cost for the system if it's not installed by the closing date. Can you afford to do that? If your house has been vacant for any length of time, you may have another set of problems to contend with. What a nightmare.

 

If you are even thinking of selling your house, understand the process before you make any decisions. We have some well-versed professionals who have had a lot of experience with this. Many homes on the North Shore rely on septic systems and being one of the busiest real estate offices on the North Shore, we see a lot of scenarios. Do you know that a failed Title V test starts the clock ticking and you then have 2 years to correct it? Do you know about voluntary testing? Do you know about the latest design technology? We certainly don't claim to be septic experts. We just want to educate you about the process. Get the facts before it's too late. It doesn't have to be scary.

 

Night falls. Haunted music fills the air. The moon is full and bright; so bright it's reflecting off the "candy cane" sticking out of the "tomb" in your new front yard. Oh wait, that's the raised septic system.

 

Wake up! Wake up! It was just a nightmare. 

  

  

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