Expert: Karyn Foley - 10/4/2007

Question
Within the past year, I purchased a home built in 1990.  I have recently found out that the water well is placed in the right-of-way of a private road.  The house was purchased from the bank who foreclosed on it and it was listed with a realtor.  What can I do, I feel I should not be responsible to move the well, since the well should not have been put there in the first place and I feel like it should have been disclosed to me when I purchased the home.  The lender did not require a survey and NO ONE suggested I get a survey (first time home buyer). I feel like I have been taken advantage of. Any advise is appreciated.

Answer
Dear Beau:  You have title insurance, don't you?  You should call the title company immediately and discuss this issue.  You probably received the title description prior to purchasing the house; at that time, you should have seen this.  If not, discuss it with the title company.  Also, were you represented by an agent?  If yes, discuss this with your agent.  I do not know the laws of your area with reference to disclosure obligations.  The listing agent had an obligation to tell you about the disclosure items, unless the banks are not held to the same laws as a private person.  You need to find out about this.  If all else fails, I suggest you speak with a real estate attorney who can point you in the right direction, and talk to you about whether or not it would pay you financially to continue with this or if it might be less expensive to just move the well.  I hope you prevail, as this is not a happy situation for you, and costly, too.  No one requires a survey.  A prudent buyer hires a surveyor in order to learn the property boundaries; fences do not necessarily represent the boundaries.  Please let me know what you decide to do, and how it works out.  Good luck to you, Karyn Foley