Septic tank fails

[bearishgurl]

[quote=eavesdropper] . . . On the other hand, you could simply let matters take their course, and who knows? ABC TV might come and build you a fabulous new house……

http://realitytv.about.com/od/extrememakeoverhome/ss/HarperMakeover.htm

[img_assist|nid=14185|title=harper|desc=|link=node|align=left|width=345|height=210]

But, then again, things don’t always work out for the best:

http://www.wsbtv.com/news/16980412/detail.html

You asked how bad it could get? Read the description of the condition of this family’s former home. The Harper family probably would have been better off had they done the requisite septic system inspection when they bought the property back around 2000. Better follow Russell’s sage advice, Scaredy.[/quote]

Unfortunately, eavesdropper, the “Harpers” are the not the first to lose their “Extreme Makeover” Mcmansion to foreclosure, nor will they likely be the last. MANY of these “deserving” folks (in several states) overmortgaged their properties (almost as soon as moving in . . . lol). The whole fiasco (with 150+ “local” volunteers) turned out to be nothing but an ATM machine for these recipients.

A half-dozen or less of this “largesse” (1 that I know of in CA) were SO POOR that they COULD NOT EVEN PAY the “new, reassessed” taxes on their “Extreme Makeover” (paid-off) properties, so lost them to local taxing entities!

I don’t know if the Extreme Makeover show is still going on but IMO, its purpose was “extremely” misguided. These “deserving recipients” should have had minor (to do with “habitation”) repairs made to their properties and/or been taught HOW to fish, NOT been “given” the fish, IMHO.

[bearishgurl]

[quote=walterwhite]Unless they find a sucker who doesn’t inspect.

So under what circumstances do I not get my deposit back and how likely is that?[/quote]

If you have not exhausted your contingency period in your contract and have a contingency there on the condition of the leachfield/septic tank, you can get more professional opinions of the cost and permits needed to remediate.

If you don’t like what the reports say, you can submit them to the lender-seller (requesting a dollar amount from them to help in remediation) or back out of the purchase based on them refusing to. If that happens, you can get your earnest money deposit back from escrow.

Hopefully, you did not already sign off on this particular contingency or your overall approval of your “property inspection” contingency!

scaredy, I seriously can’t imagine that a potential buyer would NOT have a septic tank/leachfield inspected on a property where the current seller was not required by law to prepare a Transfer Disclosure Statement or disclose any problems they “knew” about (from whatever source).

I also can’t imagine that any lender would want to lend on a property with these problems. And “all-cash” buyers are typically sophisticated enough to professionally inspect.

[bearishgurl]

[quote=walterwhite]Unless they find a sucker who doesn’t inspect.

So under what circumstances do I not get my deposit back and how likely is that?[/quote]

If you have not exhausted your contingency period in your contract and have a contingency there on the condition of the leachfield/septic tank, you can get more professional opinions of the cost and permits needed to remediate.

If you don’t like what the reports say, you can submit them to the lender-seller (requesting a dollar amount from them to help in remediation) or back out of the purchase based on them refusing to. If that happens, you can get your earnest money deposit back from escrow.

Hopefully, you did not already sign off on this particular contingency or your overall approval of your “property inspection” contingency!

scaredy, I seriously can’t imagine that a potential buyer would NOT have a septic tank/leachfield inspected on a property where the current seller was not required by law to prepare a Transfer Disclosure Statement or disclose any problems they “knew” about (from whatever source).

I also can’t imagine that any lender would want to lend on a property with these problems. And “all-cash” buyers are typically sophisticated enough to professionally inspect.

[bearishgurl]

[quote=walterwhite]Unless they find a sucker who doesn’t inspect.

So under what circumstances do I not get my deposit back and how likely is that?[/quote]

If you have not exhausted your contingency period in your contract and have a contingency there on the condition of the leachfield/septic tank, you can get more professional opinions of the cost and permits needed to remediate.

If you don’t like what the reports say, you can submit them to the lender-seller (requesting a dollar amount from them to help in remediation) or back out of the purchase based on them refusing to. If that happens, you can get your earnest money deposit back from escrow.

Hopefully, you did not already sign off on this particular contingency or your overall approval of your “property inspection” contingency!

scaredy, I seriously can’t imagine that a potential buyer would NOT have a septic tank/leachfield inspected on a property where the current seller was not required by law to prepare a Transfer Disclosure Statement or disclose any problems they “knew” about (from whatever source).

I also can’t imagine that any lender would want to lend on a property with these problems. And “all-cash” buyers are typically sophisticated enough to professionally inspect.

[bearishgurl]

[quote=walterwhite]Unless they find a sucker who doesn’t inspect.

So under what circumstances do I not get my deposit back and how likely is that?[/quote]

If you have not exhausted your contingency period in your contract and have a contingency there on the condition of the leachfield/septic tank, you can get more professional opinions of the cost and permits needed to remediate.

If you don’t like what the reports say, you can submit them to the lender-seller (requesting a dollar amount from them to help in remediation) or back out of the purchase based on them refusing to. If that happens, you can get your earnest money deposit back from escrow.

Hopefully, you did not already sign off on this particular contingency or your overall approval of your “property inspection” contingency!

scaredy, I seriously can’t imagine that a potential buyer would NOT have a septic tank/leachfield inspected on a property where the current seller was not required by law to prepare a Transfer Disclosure Statement or disclose any problems they “knew” about (from whatever source).

I also can’t imagine that any lender would want to lend on a property with these problems. And “all-cash” buyers are typically sophisticated enough to professionally inspect.

[bearishgurl]

[quote=walterwhite]Unless they find a sucker who doesn’t inspect.

So under what circumstances do I not get my deposit back and how likely is that?[/quote]

If you have not exhausted your contingency period in your contract and have a contingency there on the condition of the leachfield/septic tank, you can get more professional opinions of the cost and permits needed to remediate.

If you don’t like what the reports say, you can submit them to the lender-seller (requesting a dollar amount from them to help in remediation) or back out of the purchase based on them refusing to. If that happens, you can get your earnest money deposit back from escrow.

Hopefully, you did not already sign off on this particular contingency or your overall approval of your “property inspection” contingency!

scaredy, I seriously can’t imagine that a potential buyer would NOT have a septic tank/leachfield inspected on a property where the current seller was not required by law to prepare a Transfer Disclosure Statement or disclose any problems they “knew” about (from whatever source).

I also can’t imagine that any lender would want to lend on a property with these problems. And “all-cash” buyers are typically sophisticated enough to professionally inspect.

[scaredyclassic]

I can’t recall a separate septic contingency just general inspection. Wouldn’t this fall under general inspection. Prior to expiration we sent a request for time notice of requested repair. Agent says not to worry so much about the deposit, but, should I worry? I haven’t signed off on inspection contingency and requested repairs …

[scaredyclassic]

I can’t recall a separate septic contingency just general inspection. Wouldn’t this fall under general inspection. Prior to expiration we sent a request for time notice of requested repair. Agent says not to worry so much about the deposit, but, should I worry? I haven’t signed off on inspection contingency and requested repairs …

[scaredyclassic]

I can’t recall a separate septic contingency just general inspection. Wouldn’t this fall under general inspection. Prior to expiration we sent a request for time notice of requested repair. Agent says not to worry so much about the deposit, but, should I worry? I haven’t signed off on inspection contingency and requested repairs …

[scaredyclassic]

I can’t recall a separate septic contingency just general inspection. Wouldn’t this fall under general inspection. Prior to expiration we sent a request for time notice of requested repair. Agent says not to worry so much about the deposit, but, should I worry? I haven’t signed off on inspection contingency and requested repairs …

[scaredyclassic]

I can’t recall a separate septic contingency just general inspection. Wouldn’t this fall under general inspection. Prior to expiration we sent a request for time notice of requested repair. Agent says not to worry so much about the deposit, but, should I worry? I haven’t signed off on inspection contingency and requested repairs …

[sdrealtor]

FYI, its a short sale and the seller is not the bank. The seller has the duty to disclose. If it turned into a foreclosure the bank would be exempt.

If you havent signed off on your inspection contingency you could get the deposit back.

[sdrealtor]

FYI, its a short sale and the seller is not the bank. The seller has the duty to disclose. If it turned into a foreclosure the bank would be exempt.

If you havent signed off on your inspection contingency you could get the deposit back.

[sdrealtor]

FYI, its a short sale and the seller is not the bank. The seller has the duty to disclose. If it turned into a foreclosure the bank would be exempt.

If you havent signed off on your inspection contingency you could get the deposit back.

[sdrealtor]

FYI, its a short sale and the seller is not the bank. The seller has the duty to disclose. If it turned into a foreclosure the bank would be exempt.

If you havent signed off on your inspection contingency you could get the deposit back.

[Author]

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