Jim Valentine: Real Estate tid bits | NevadaAppeal.com

Jim Valentine: Real Estate tid bits

By Jim Valentine

One never knows what you will encounter in the world of real estate. We often say that it is a people business, and that the changes and challenges come from the people involved, but that isn’t always the case. The real property can present surprises as well.

What do you do/think when the inspector turns on the faucet and the tub bottom blackens from the sand in the water? Good thing it’s the pest inspector, not the man to test the water. Sand can happen in well water that isn’t filtered for it, and most aren’t. With constant usage well water tends to stay fairly clean of debris unless there is a major problem, but the presence of sand in the water doesn’t always mean there is a major problem. It can be that the well was tested before the house and things got stirred up and not cleared out. If it wasn’t present before the test chances are that it is a temporary situation.

Always remember that fences aren’t there to delineate property lines. They keep things in and out, but aren’t always on the actual boundary line. Don’t rely on them other than to get an idea of where your property line is. We recently heard of two instances where one end of the fence was 15 and 20 feet respectively on the wrong property involving a lot of property. It isn’t always done maliciously, mistakes happen, but don’t accept status quo without satisfying yourself as to the reasonableness of its location. Fences are often purposely placed one foot inside the line to avoid neighbor problems for the person installing it. Not usually something to change.

Old expired CC&Rs can turn up on your Title Commitment. Seems like they should come out if they haven’t been extended, but read them closely. If they have timed out, but there is a provision that they could be extended by a specified percentage of the property owners then they will likely remain in. Why you ask, if they didn’t vote to extend them are they there? Because there could be a vote to resurrect them in the future and the Title Insurance Company doesn’t want to be on the hook if you are adversely affected. It is not very likely that a majority of owners would want to subject themselves to expired CC&Rs, but it could happen therefore you will not be successful having it removed from your policy.

If your well is older it may not be drilled too deep, or the aquifer where your bowls are set may be affected by usage that wasn’t there historically. Either way, you could experience a water flow problem. You may or may not be able to deepen your well or drill a new one depending on the diameter of your well and/or your proximity to a water system. There may be some surprising costs involved either way, i.e.- sealing the old well, well credit issues, etc. Then there is the subject of oil tanks. They aren’t as bad as their reputation would have you believe, but you’ll need to know how to navigate to keep costs under control. Oil is a good heat source if you have it so don’t fret about the unknown, just be aware of possibilities.

Our advice:  Most real estate issues can be resolved by communication and cooperation between people… agents, sellers and buyers, but that is easily said. Some real property issues are bigger than the emotional, financial or professional skillset or ability of the parties involved. If you find yourself in that situation step back and assess. What are the facts, what are your options given the facts, what is your perspective and imagine the perspective of the other parties. That will guide you to a reasonable plan. Operative word … reasonable. Some people just aren’t reasonable for one reason or another or none. Now we’re back to people because whatever your tangible real estate problem is, it is going to take people to remedy the situation.

You will learn a lot about your property by going over and through it, having it inspected, and reading the disclosures. Pay close attention. You will also be working on your loan, planning your move, and many other things, but don’t let the property condition escape your awareness or you could buy an avoidable problem.

When it comes to choosing professionals to assist you with your Real Estate needs… Experience is Priceless!  Jim Valentine, RE/MAX Realty Affiliates, 775-781-3704.   dpwtigers@hotmail.com