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Adjusting For Possible Adverse On Community Well

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PerseverancePLUS

Sophomore Member
Joined
Oct 17, 2013
Professional Status
Certified Residential Appraiser
State
Missouri
HI ALL - extreme rural area and will not be able to determine an adverse affect on marketability - as is many of the subdivisions in the area, there are no HOA's, most are voluntary situations. I have a Deed that indicates that the subject has a 1/6 interest in a well lot. That's not unusual, however, the deed reads, 'WITHOUT WARRANTY OF TITLE'. My gut tells me this could ultimately be an issue. The subject property could have a their own well. How do I say, I cannot determine if or at what value would the property experience? AS IS today, it's having no affect, so perhaps I'm overthinking...again.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Assume away, assume away...it is probably just what it is...a community well. Subject to water test (at least in my state it would require annual water testing)
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Quite common, you can always condition your appraisal with the assumption there are no adverse conditions which would hinder the delivery of an adequate supply of water for residential use.
 
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