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my place is for sale and the bank wants to inspect the well before approving the loan.

2006-06-13 17:33:47 · 2 answers · asked by sweet_shy_blondie 3 in Home & Garden Other - Home & Garden

2 answers

Depth of the well is not usually an issue. The refresh rate of the well is an issue. In other words, how fast does the water percolate into the well from the surrounding ground. If the replenishment rate is too slow, the well is considered of no value. In addition, the quality of the water is checked. If a high level of certain types of bacteria is found in the well, that can also render the well useless. The well cover is also an issue. In addition to the human safety point of view, the well must not be contaminated by surface water and "critters" must not have access to the well.

If the well fails inspection, and is the only source of potable water on the property, the appraised value of the property will be lowered considerably. Would you move into a home with no usable water?

Good luck with your inspection.

2006-06-15 02:02:49 · answer #1 · answered by exbuilder 7 · 9 1

Because of risk of being sued the banks want to make sure the well is safe. This may include the structure and the coverings.

You don't want someone buying your place, and then someone falling into it and drowning because they did not know the cover was only thin. Banks also ask for inspections of old houses wiring if not rewired within the last few years - same reason risk of injury.

2006-06-13 17:41:07 · answer #2 · answered by kerrynst 2 · 0 0

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