Buying a home with questionable water situation
My husband and I found our dream home. It was a foreclosure property in a very nice area. All of the homes in the area were originally owned as a group. The lady who owned them tried to turn it into a corporate retreat center and failed miserably. So the house isn't your typical foreclosure. It is in awesome shape. I have researched this house to an incredible extent and was even able to talk to the original builder of the house. The original part of the home was built in the 1800s and then it had an addition built in 1986. We outbid 3 other competitors on the home and have already been contacted by some asking us to sell it to them! We are currently under contract and our mortgage company completed their appraisal. We have been waiting on someone to get the water turned on to the house. My problem is that they haven't been able to do this. The water is on a shared well and we know where the well house is. We brought a plumber out to the area and we know that we will have to reconnect a pipe in the bathroom before they turn on the water but we have been getting the run around. My REA says that there are people who are coming out to hunt for the place to turn on the water to the house and kind of scared us by saying that it may be impossible to get the water turned on. She thinks that the water shut off may be located in this castle for sale across the street! She said that the seller (bank) may lower the price of the home so that we would have $ to get our own well on the property. I just don't believe that. Wouldn't that entail another another opportunity for a bidding war to commence on this house? Also, since this house was the first in the area since it was originally built in the 1800s wouldn't that mean that they would have already had water? Nobody lives on this particular street, there are several properties that are slowly selling since they were foreclosed just last year but no one has moved in. I don't know what to do. I love this house and truly do not want to back out but I want to make sure that water won't be a problem. We don't have a lot of money to spend on attorney fees. We have a closing attorney but I am not sure if he would be able to do anything about this.