Dealing with a septic system?

If you are thinking of purchasing a home with a septic system there are a few things you will want to consider. It may make sense to have it inspected before you spend the money to have the home inspected. Reason being, you may have the home inspected first and there may be issues and there may not be issues but if there are septic system issues and you already paid for the home inspections then if things don't pan out with your septic, you've wasted more money then you had to. The amount of money to replace a full septic system and drainage field ranges from $10-40K. Negotiating the deal with a broken septic system can be tricky if you aren't careful. In most cases the seller should bare most if not all of the costs. This obviously depends upon how you settled on your original purchase price. Most likely you knew there was a septic tank and took that into consideration when putting in your offer. You did however expect it to work for the price you were offering and we're hoping for the best. There will be cases where it makes sense for the buyer to buck up. If you come across septic tank issues you should consult with a realtor who has experience with these types of situations if you are not already. It may make sense on your part to kick in $5-10K on a $35k septic replacement if you really like the home and don't want to spend the time and money to continue looking at other homes. You'll have a brand new system at a fraction of the full cost. Also, check with your lender for advice on how to proceed with your mortgage rate lock etc. If you need to apply for a mortgage you can do so on our site. CLICK HERE Another thing to consider is the time frame in which it can take to negotiate, come to agreement, have the job approved by the county, municipality, city, etc. Then having a contractor available to do the work, weather delays and inspections of the installation. You could seriously be looking at 6-8 months in some cases. Here at www.phillyfinance.com we are here to educate and lay out the basics of what to expect and give you some things to think about. If you have questions feel free to reach out and we'll get back to you as soon as we can. All the best!