Vacant Lot with a Well on the Property

[Arthur Thomas]

I found a vacant lot that I like a lot, the only problem is that it has a Well on the property.  What is the marketability of this type of property?  What are the pitfalls? Are there any workarounds?  Any advice would be appreciated.

[Ed Emmons]

What kind of well, oil (haha), hand dug, drilled? Is the well registered with town or state? I have never heard of it being a problem, more often it is an asset. Curious, why do you anticipate it being a problem? In my area it costs a few thousand dollars to drill a well so it is value added.