I'll try to kep this as short as possible, though I want to give you as much info as I can. I'm looking at a property that's been re-wired and while it's a nice, clean job I'm curious about a couple of things. They moved the panel from its original location (back to back from meter socket on garage wall to about 25' away in basement. They used SEU instead of SER4 as the extension and grounded new main panel to 3 ground rods and also to cold water copper. A shut off was added outside next to meter box using a pull bar (not a circuit breaker) and nothing at that location is grounded. Also the water system is a well so does grounding to the pipes become affected since it goes through the well pump before it hits ground. Should that panel been wired as a main lug instead? I would have tried to find some answers in the reference book I've got. But it of course is the 3rd edition of Wiring a House. I swear , if I didn't have bad luck, I'd have no luck at all. Thanks D.

Yes, the new distribution panel should have been wired as a "sub-panel".
Yes, SER should have been run, NOT SEU.

ALL grounding and bonding should have been brought to the service disconnect, NOT the branch circuit panel.

If there is a well it is likely that the pipe going underground is plastic. If so then it does not matter where the water bond is connected, as long as the connection is accessible.
IF the water pipe entering is all metallic then the connection MUST be made within 5' of where it enters.

You say it goes through the well pump. Is this a shallow well with a jet pump in the basement? If so then yes, the connection should be made on both sides IF the entrance pipe is metallic.

Is the way its wired and grounded a hazard? Thanks for well info, I'll check it out next time I'm in vicinity and get access.

Whether there is a hazard or not is not the issue. It is not wired per Code, and when done per Code, it is determined to be safe. Anything not done per Code cannot be guaranteed to be safe from shock hazards or fire for occupants and property.

If you want to purchase this building, have the owner produce proof the installation was permitted and inspected by the authority having jurisdiction, (electrical inspector).

Good catch, however, this is what is apparent, what about sub-standard work that cannot be seen?