Is there a loan option to buy a house that doesn't currently have water available? There is a house built in the area me and my wife want to live that is priced significantly below the market.

I'm still exploring why it didn't have one to begin with, or why a well wasn't dug. But if I can't get a loan for it, non of that matters.

Email me(profile) and let's talk

My best guess is a construction loan where you build in the cost of the water hookup as part of the loan. So...

Sales price + water installation = appraisal value after completion

You will need 20% down and pay upfront appraisal and get quotes for the water costs

Why is there is not a water meter? Was the house new construction or rehab that was never finished?

New construction. It's just outside the city limits of a small town so there was some confusion as to if a well or meter was needed.

How do you know the plumbing works if there is no water?

Dubi you don't. So a conventional loan will not work. Construction loan with 20% down will, but no 20%?

Seller needs to install or doubt it's doable. Maybe private money.

quote:

---

Dubi you don't. So a conventional loan will not work. Construction loan with 20% down will, but no 20%?

Seller needs to install or doubt it's doable. Maybe private money.

---

I would run far far away!

If it is too good to be true it probably is.....

I wouldn't run but be very cautious.

How long were the pipes planted without water?

How many trees around the house?

I could go on. Bottom line...Seller needs to connect the house with water are sell to a private cash money buyer.

Or OP you can do a construction loan and find out for yourself.

If I go the construction loan route, it will be to build my own. The original plan was to do that next year anyway. This was just another opportunity.

Cautious is an understatement. I don't plan on buying someone else's problem.

Buy it! Then post alllllll the details along the way.