how far does a power line have to be from a house?

Question

I am looking to buy a house in the Dallas area. we should have moved in this weekend but they called and said the power lines are to close and they can't sale it..! I need to know how far do the have to be from the house..? they are the big power lines. out in the country. Some one help me find this out please.

Answer 1

I have been in the mortgage business for 15 years and have never heard of this reason for denying a loan. But don't, under any circumstances, take the advice of buying on a contract for deed. It's fraught with risk for the buyer. There are plenty of mortgage companies that will help you. Just ask.

Answer 2

I am assuming that your mortgage lender denied financing due to the proximity of the power lines. There are no set laws on such locations. That is up to the discretion of the mortgage company, and I would guess they denied financing because, in the event of a foreclosure action, they think they might have difficulty disposing of the property after they take ownership.

In other words, they have decided that the 'quality' of your collateral is not sufficient under their underwriting guidelines.

Answer 3

Try another mortgage company. It is possible that they are using this as an excuse for some other real objection that they do not to tell you about, because it might reflect unfavorably on them.

If this fails, try buying on a land contract with the current owner of the property.

Answer 4

For resale purposes this is beside the point. once you sell the residing house, this is going to sell for particularly below the neighboring residences as a results of capability lines. yet while to procure the residing house, to procure it for particularly below the neighboring residences as a results of capability lines. the tip effect is that the income is the comparable.