- Oct 18, 2009
- 11,684
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- 136
Whew!
In case you're not from MA or its environs, when selling a property that has a residence upon it and a septic system, a Title V inspection for the septic system must be performed. And it's generally accepted that the seller fixes the system if it fails its inspection or makes a concession on the price, which can run quite a bit.
No big deal you'd think, except the system was put in around 1992, was rarely if ever pumped, and the scuttlebutt I'd heard was that Title V inspections on Cape Cod rarely pass unless the system was less than 5-10 years old. And, of course, the sale is contingent upon us having the septic pass the inspection---if it fails, the seller can back out immediately with no penalty or we can come to an agreement, i.e. cut the price to reflect repair of the system. (Have heard the figure $20K minimum bandied about....)
Imagine my surprise when we receive the official inspection report and on the front page PASS is checked.
Am so stoked! It's like I just found $10K-$20K on my doorstep. And a big weight has been lifted. The last obstacle to the sale has just been hurdled. Guess I'll buy a new truck instead of the used one now....
On another note, the home inspection took place today and it didn't go very well at all. From the snippets I overheard, damned near everything that could be wrong with the house is wrong with the house. Not unexpected, but still. And of course, the contract's written such that if the buyer finds the results of the inspection unsatisfactory, he/she can bail without penalty.
Unfortunately for the buyer, the contract specified that the inspection happen on or before 2-15-2013, 10 days ago. So the inspection was rather irrelevant, at least for giving the buyer info. to withdraw from the sale.
C'est la vie.
In case you're not from MA or its environs, when selling a property that has a residence upon it and a septic system, a Title V inspection for the septic system must be performed. And it's generally accepted that the seller fixes the system if it fails its inspection or makes a concession on the price, which can run quite a bit.
No big deal you'd think, except the system was put in around 1992, was rarely if ever pumped, and the scuttlebutt I'd heard was that Title V inspections on Cape Cod rarely pass unless the system was less than 5-10 years old. And, of course, the sale is contingent upon us having the septic pass the inspection---if it fails, the seller can back out immediately with no penalty or we can come to an agreement, i.e. cut the price to reflect repair of the system. (Have heard the figure $20K minimum bandied about....)
Imagine my surprise when we receive the official inspection report and on the front page PASS is checked.
Am so stoked! It's like I just found $10K-$20K on my doorstep. And a big weight has been lifted. The last obstacle to the sale has just been hurdled. Guess I'll buy a new truck instead of the used one now....
On another note, the home inspection took place today and it didn't go very well at all. From the snippets I overheard, damned near everything that could be wrong with the house is wrong with the house. Not unexpected, but still. And of course, the contract's written such that if the buyer finds the results of the inspection unsatisfactory, he/she can bail without penalty.
Unfortunately for the buyer, the contract specified that the inspection happen on or before 2-15-2013, 10 days ago. So the inspection was rather irrelevant, at least for giving the buyer info. to withdraw from the sale.
C'est la vie.
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