Twin Cities Real Estate

- detailed information about current local real estate trends - answers to questions from my readers - other local information about events or businesses Play stump-the-chump and ask me a question! I double-dog dare ya.

Friday, June 19, 2009

7 Questions to ask When Buying Real Estate
Questions to ask:
- how much can I get approved for?
- how much do I want to spend/can I afford?
- what features are important to me? (this often isn't clear until you look at a few homes)
- what area do I want to live in? (look at your entertainment, friends, work, church, family, ...)
- what does my future hold? (i.e., marriage, kids, job change, ...)
- how handy am I, how much home repair or renovation can I handle?
- when do I want to move in?

Wednesday, June 10, 2009

Wells

I just showed a home where the sellers had disclosed that "they didn't know of any wells on the property". Well (no pun intended), there was a well on the property and after calling the state, we found out the well had been properly sealed.

When selling a property, a well needs either to be:
- operational and in use
- sealed
- or have a maintenance permit issued for the well to be put back into use

Wells that are no longer being used are required to be sealed by a licensed well contractor mainly to protect the underground aquifers from contamination by anything being dropped or poured down the well pipe. Well sealing can easily cost upwards of $1000 so you need to know what to look for.

Wells are often in the lower level of the home, in a corner near the furnace or water heater or they are in a small closet under the front or rear step. Look for a glass block in the step (from the outside of the home) or a door or other entrance into the small closet-like area in the basement.

You can also go to the state's website: http://www.health.state.mn.us/divs/eh/wells/index.html or call the state at 800-383-9808.

If the property has a well, ensure there's a well-sealing record on file with the state and that the sellers complete the well-disclosure forms including a map showing well location.