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.