What does a disclosure of water debt 28 years mean to a homebuyer?

Asked by Lchomebuyer, Chelmsford, MA Thu Feb 2, 2012

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5
Heath Coker, Agent, Falmouth, MA
Mon Feb 13, 2012
I would ask the listing professional. I'd also contact the town/city/regional/state entity that may have the facts and figures.


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0 votes
Kevin Vitali, Agent, Tewksbury, MA
Fri Feb 3, 2012
Its hard to answer without knowing what your referencing.... could you be talking about a sewer/water betterment. Sometimes they give an assessment a period of years to be paid 28 years seems pretty long though. Where are you seeing this disclosure?

Also if you are working with a buyers agent they should get to the bottom of it quickly
0 votes
Tom Courtney, Agent, Westford, MA
Fri Feb 3, 2012
Any debt or betterment will have to be paid by the seller to get clear title. I would reccommend you call the town and see exactly what the debt is.

Give me a call if you have any more questions.

Tom Courtney
Remax Prestige
(978) 265-7917
0 votes
Richard Shap…, , Framingham, MA
Thu Feb 2, 2012
Could be a sewer betterment that is paid through the tax bill. A betterment is the fee to hook up to the system and can be paid off over years.

Your best bet is to ask the Listing agent why it's disclosed and then check with a re attorney to see what risk there is.
0 votes
Roxanne Kazda, Agent, Concord, MA
Thu Feb 2, 2012
Are you sure you are reading this correctly?
The typical seller's disclosure asks if there has been water penetration with the ownership of the home.
Where are you seeing this?

Roxanne
Keller Williams Realty
617-966-7699
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