Home Buying in 21157>Question Details

Becky P., Home Buyer in 21157

An old cottage in Carroll County, Maryland has a cesspool. Assuming it's in working order, would it pass inspection? Could we get a mortgage?

Asked by Becky P., 21157 Sun Nov 6, 2011

on it? The building was originally a mill (oldest part of the structure is pre-1900s), and the upper levels were built after 1934. There is very little structural information about the property available, and the only owner on tax record passed away last year. His estate wants to sell as is, but I think the lack of a modern septic tank will make it hard to get financing. Anyone else seen a similar situation? How was it resolved? Thanks!

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The easy solution is to instal a new septic system. HOWEVER HURRY! The new septic code goes into effect on 1 January 2013. You must apply for a septic permit before 10 December 2012 to be under the old, much less stringent and much less costly code. In this case a small investment now will save many thousands.
0 votes Thank Flag Link Wed Nov 28, 2012
As an FHA appraiser, it will not be elligable for an FHA loan. I seriously doubt any bank will touch it because its a health hazard. This may need to be a cash deal. If the owner still refuses to install a septic system, then maybe you would need to put one in before closing. Its a risk for you because you are spending money on a house that you don't have title to. If you are real comfortable that your financing is solid, then go for it. If not, walk away.
0 votes Thank Flag Link Mon Nov 7, 2011
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