Cess Pool

[Terry Beall]

Hi Everybody,

This is a new one on me!  I am getting ready to purchase a house at auction.  However, I have learned that it has public water, which is good, but has a cess pool for septic.  I can pay cash for the property, but would like to refinance It out with a mortgage.  I do not think banks will lend on this property because of the cess pool.  A septic system will cost approximately $20K, which if I get the property at the price I believe I can, it wouldn't be a big deal to put septic in. I don't want to put money out upfront and possibly lose other deals because my cash is out.  The house is great location, low crime, good schools.  I cannot believe that cess pools are still around.  Can anybody give me any input on how you would handle this?