"Ohioguy" wrote in message
...
My wife and I have been searching on and off for a place with several
acres but in the same general area. Fairly recently, I saw a place with 4
acres and we went to view the interior. To our surprise, the inside is
pretty much move in ready. It has an old fuel oil furnace that would need
to be updated. House size is a bit small at 1,200 square feet for our
family, but we could easily add a second toilet,
bedroom and living room on to the east side.

Anyway, I wanted to find out why this bank owned property, which is in a
great neighboring school district, was only being listed for about $64k.
It turns out that as far as the realtors was concerned, it had "no water".
The bank has recently dropped the asking price from the original price by
about $3k or so. I was able to find that the bank obtained the property
for under $50k, supposedly.

I decided to do more digging, since my Dad and I had seen what looked
like 2 fairly new well caps. I read over the well reports, and they
reported between 1/2 and 3/4 gallon per minute flow rate for both of the
wells, which were each sunk over 200 feet deep within 40 feet or so from
the house. Well, that's not "no" water, but it doesn't compare favorably
to the average of 8 gallons per minute in the surrounding area. The
former owner spent nearly $20,000 drilling those 2 wells.

Speaking of that, all of the surrounding wells struck water at an
average depth of 45 feet, and the neighbors I interviewed said they had no
problems with well water ever running out.


how far away are these surrounding wells? Seems odd the big difference.
You might go speak with the well driller for his thoughts.