Well, well, well. . .
September 21, 2010 § Leave a comment
Well, we’ve hit a road block. I may have mentioned that the well that sits on the property that we want to purchase is shared by the property next door. That’s because the seller currently owns both properties. Obviously, a shared well between her two cottages was never a big deal.
Here’s a picture of the side yard with the well to the right of Robert and the car. Yes, it’s hard to see in this shot. How could such a tiny little hole in the ground cause so much heart ache?
Anyway, I started looking into getting a formal “shared well agreement” with the seller last week. As part of my research, I emailed my agent, who emailed the mortgage broker, who emailed the title company. It seems that neither the mortgage broker or the title company had noticed the shared well (in the disclosure, thank you!) until I brought it to their attention.
Now it seems the broker has had to go back to the “investor” to make sure he/she/it is comfortable loaning money to purchasers of a property with a shared well.
Robert’s question to me after receiving this news from the broker’s assistant: “Will you be broken-hearted if this falls through?” You guess the answer.