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Updated almost 8 years ago on . Most recent reply
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Perc/Mantle & Property Line Markers
Hello BP community! Question: when buying raw rural land, whose responsibility is it to 1) perform the perc and mantle test and 2) put up the property markers?
My fiancee and I are looking at a piece of land in CA that has been on the market for about 3 years. It has been surveyed, and at one point there were markers, but after 3 years of weather, the markers have disappeared. We requested that the property be remarked. The broker said that it would cost $450, and that this is something that would be covered by us (the potential buyers) during the discovery period/escrow, and probably not refundable. We replied, "How can we even make an offer if we don't even know what we're buying?". Also, I am not going to pay for someone else's property to be marked - what if we end up not purchasing??
Same story goes for the perc and mantle test. This test needs to be performed so that we know what kind of septic tank options we have for the property, and thus the type of structure we can build. The broker said that we are to also cover the perc and mantle test during the discovery period, and that this is also probably not refundable. Again, how can I make an offer on a property if I don't know the potential (septic/structure, etc.), and I am not going to pay for someone else's P&M test.
Whose responsibility is this? It's my understanding that the seller is not too motivated, which is why he's insisting on not paying for the new markers and the P&M test. But surely the potential buyers are not responsible. How can we make an offer if we don't even know what we're buying?
Thanks BP community for any help/insight. We are totally new to real estate, and have already learned heaps through this first property experience.
Warmly,
Anastasia