Apr 29, 2011
Septics on Cape Cod
One of the first questions we get asked by buyers when visiting property is “What about the septic?” Massachusetts has created the Massachusetts Title 5 code 310 CMR 15.000 to create a standard for towns to abide by.
Most towns on Cape Cod do not have extensive sewerage systems so properties rely on independent septic systems. Certain towns still allow cesspools to meet Title V certification, but by in large, most towns require an updated system with a septic tank, distribution box and leaching field. This type of system can take many shapes and forms, but the purpose is to provide for the protection of public health, safety, welfare, and the environment by requiring the proper siting, construction upgrade, and maintenance of on-site sewage disposal systems and appropriate means for the transport and disposal of septage.
New residential systems on Cape Cod can be fairly expensive so knowing: 1. has the existing system passed or failed Title V inspection, 2. who is going to be responsible for the repair or replacement, 3. how much will it cost and 4. where and how will it be installed. Offers must be structured so these questions are answered well before closing.
Typically, residential system inspections are good for two (2) years and in many cases the seller will have had the inspection completed in the early part of marketing so the information is available to potential buyers. If a system fails the seller will often take responsibility for the repair or replacement, but not always. If a system must be replaced an engineer will be hired to diagram the septic plan to meet the town’s septic code. Once the engineered plan has been submitted and approved by the Board of Health, bids are received from installers. Installation generally takes a couple of days for a simple system.
This is a fairly simplified explanantion of septics and we always recommend contacting the local Board of Health for information and/or a Cape Cod septic professional.
If you have any questions give our Team a call, 508-258-9010 and we will answer them as well as we can.
Apr 2, 2011
Estate Property Sales
As an agent working with buyers there a couple things i want my clients to know.
1. The estate has a fiduciary responsibility to get as much money at the best terms it can regardless of whether it has already has accepted an offer. How does that impact my buyer client?
2. If they have placed an offer on an estate property and that offer has been accepted the estate will be adding language to the offer and/or the Purchase and Sales that lets my clients know that if another offer comes in that is higher than theirs, the estate is mandated to consider that offer. This language also contains a provision that provides the original buyer five (5) business days to meet or beat the new offer.
3. Estates often want an “As Is” offer.
4. The estate will most likely require a License to Sell to complete the sale. How long does it take to obtain one?
5. call us to find out more…508-258-9010
Because of the demographics on Cape Cod there is a good chance of bumping into estate properties when looking to purchase. There are pitfalls associated with this type of transaction. We have extensive experience representing buyers purchasing estate property on Cape Cod and can assist in avoiding those pitfalls.
Working with sellers involved in estates can be just as complicated. Knowing what should be disclosed to the buyer, how to represent and market the property so it attracts buyers prepared for an estate transaction and including the correct language in the offer and purchase and sales per the estate attorney’s instructions. One of the most important aspects of dislcosure is needed on the listing sheet. Listing agents do not want to make the property sound “scary” on the listing sheet, but they do need to disclose certain things upfront to potential buyers or their agent and that is clearly the best medium.
If you would like more information on purchasing or selling estate property on Cape Cod please call Team OnCapeRealEstate at 508-258-9010, email us at [email protected] or contact us through our anonymous chat on the lower right side of this page..
Apr 1, 2011
Selling Unique Property
Every Cape Cod property we sell comes with its own unique set of circumstances. Even a seemingly starightforward sale; house is in good condition, mortgage is lower than market price, owners are willing and able to sell, title is clear, etc there are always bumps in the road.
We find that our Team is often called upon to take on “challenging” sales. Sales that others either don’t have the experience or the desire to complete. Here’s some examples: estate sales, short sales, the exterior or interior condition is in disrepair or even multi-use properties.
In the next couple posts we will discuss the challlenges of listing and selling these type of properties and how to be successful at doing so. If you have any questions don’t hesitiate to call on Team OnCapeRealEstate at 508-259-9010 or drop us an email at [email protected].
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