Point of Sale

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Real Estate Agent with Coldwell Banker Residential Real Estate 1234567

Summit County Ohio is considering instituting a point of sale, specifically for well and septic.

I was curious about other real estate agents who have a point of sale in their area. Have you found this to be helpful or has it resulted in slower closings and/or has it resulted in deals that fell apart?

Give me your thoughts on this. Thank You!

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Rainmaker
997,096
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate
Debra:  Sorry to be so unaware... but just what is a "point of sale ?"  I would love to comment, but am not sure what you mean.  Take care...
May 01, 2008 12:24 AM #1
Rainer
47,744
Susan Walters
Keller Williams Realty, Ann Arbor, MI - Ann Arbor, MI
Debra, I like Karen are not aware of the 'point of sale' terminology but we do have a well and septic requirement in Washtenaw County that sellers must produce a document stating that the well and septic are functioning in a manner acceptable by the county.  The requirements are stringent and I am glad of it - replacing well and septic can be extremely expensive and sometimes not doable at all - if there is arsenic in the well or the septic field will not perk, for instance.  It is the seller's responsibility, like any other maintenance they would have been expected to keep up on the property when they lived there.  The difference is that well and septic are health issues.
May 01, 2008 12:40 AM #2
Rainer
11,347
Debra Wheeler
Coldwell Banker Residential Real Estate - Punta Gorda, FL

A point of sale inspection is an inspection by the county that is required prior to allowing the property to sell. Deficiencies or needs addressed by the county will need to be rectified within a certain timeline, generally before the transferred is allowed.

Regarding a well/septic inspection. A well inspection could pass but if the house is vacant, there could be a need for a well system shock even if it passed earlier at time of closing. I sold a house that passed the water inspection, then was delayed. The buyer agent wanted another inspection. I thought this was unnecessary and lo and behold if the house did not pass the second time!  :)

May 01, 2008 01:17 AM #3
Rainer
339,851
Kris Wales
Keller Williams Realty - Lakeside Market Center - Macomb, MI
Real Estate Blog & Homes for Sale search site, Macomb County MI

We have that in Macomb County also.  It's a pretty strict requirement:  Pass or no go without a large escrow held to cover any repairs and/or replacement of system.

Yes, it can add more time to the sale of the home, but in all honesty we need to do everything we can to protect our waters. 

May 01, 2008 06:10 AM #4
Rainer
4,351
Braxton Beyer
One Source Realty - Austin, TX
Debra,

I would love to know the same thing.  They are considering implementing a point of sale ordinance here in Austin that would be focused on energy efficiency.  Our board is working on educating everyone so that it does not happen. Keep us posted and let us know if yours passes.
May 07, 2008 10:41 AM #5
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Rainer
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Debra Wheeler

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