Posted by Geo-TH,In on July 29, 2019 at 14:06:01 from (50.102.22.179):
I'm going to sell a rental house. Realtor said selling a house with a well when you have city water in the street will disqualify people applying for FHA loans. April 28, 2017 - When the FHA and HUD published new single family home loan rules in HUD 4000.1
“The Mortgagee must confirm that a connection is made to a public or Community Water System whenever feasible and available at a reasonable cost. If connection costs to the public or community system are not reasonable, the existing onsite systems are acceptable, provided they are functioning properly and meet the requirements of the local health department.”
It would cost me about $1500 to $2000 to connect to the city water. Plus a $500 tap on fee.
Realtor also asked if there is a farmer's field within a 1/4 of a mile.
I've never sold a property, to all this is a learning experience.
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