Pool Pro, as a lender I will tell you "YES THEY CAN" and you have no rights to the lender's money. You have rights against the property (mechanic's lien) or the buyer since it is a contract you agreed with them. The main and likely only reason is that your work was built into the loan. The loan and the home are one (including your pool). They cannot release the money to you until they know the home is complete and ready for funding/ recording. Look at it this way, how about if the buyer never comes back to the closing table? The lender is in a very odd place.
I am not sure how long you have been waiting but I would be a bit more patient and it would be a very good idea to contact the buyer's agent. They usually have some sway and will urge the client to finish up the last minute details.... more
Shared wells are acceptable as long as there is enough volume of water to service all of the homes using the well water resource.
Remember that the maintenance is usually shared as well (no pun intended).
also, even though the well is shared and the other residents using it find it ample,if you are purchasing a home and are bringing livestock like horses, this may put additional stress on the water available. If the residents around you are aware of that, then there may be a restriction placed on the well that does not allow you to use it for that reason and for that purpose.
I would also recommend strongly that you have a well flow test done to determine the quality of the water and volume the well delivers.
Your Realtor should be able to help orchestrate this for you.
Any further questions you know where to reach me.
Signature Realty Group
2008-2009 Master of Real Estate Award... more