Thursday, December 2, 2021
And... Just like that... The dream is over (or at least significantly delayed). Keep reading.
I made an offer today on the property I visited on the 22nd. It turns out the seller had already turned down offers of $8,000 and $9,000 so I had to meet his asking price of $10,000. I electronically signed the contract. Now it's up to the seller to accept my offer. I'm sure he will.
The bad news of the day completely wiped out any joy I might have had when I signed the paperwork. As part of the contract I had a clause inserted stating that if the property didn't pass a soil percolation test, I wouldn't be obligated to purchase the property. The state requires a septic system if there is no city or county sewage line hookup. I have no use for the property if I can't install a septic system on it.
The bad news was the percolation test may cost 3 to 4 times what I expected it to cost ($1,800 versus $500) and the septic system may cost 3 times what I was planning on ($12,000 to $15,000 versus $5,000). Perhaps my original thinking was unrealistic, but that was where I was at.
If the perk test and septic system will cost as much as this new information seems to indicate, I'm going to have to look at how far away the nearest sewage line is and see how much it would cost to connect to that.
Either way, I may have to wait another entire year (hopefully no more than that) before I can save up enough money to move forward.
I'll know in the next couple of days. The contractor who I got these estimates from should be calling me back.
(I'm writing this here, but it didn't occur to me until tomorrow.) I contacted a different septic system contractor a couple of months ago. He said $5,000 to $7,000. I don't know if that was him trying to keep me interested in signing up for his services or if he can really do it for that price. I'll call him tomorrow and see what he has to say.
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Dec 21, 2021 12:14 pm | Bicycle Mike
The government wants to squeeze as much money out of you as possible. I am impressed that you have come as far as you have.
Dec 23, 2021 03:20 pm | Reply From: Admin
Thanks. I can hardly believe it myself. When I first moved from California, my brothers came through with money so I could buy a replacement battery for my car — and now this! God has blessed me more than I deserve.