I have a buyer for my house in Florida. She got approved for a USDA loan and they had us do all the inspections. Everything was fine & we had a closing date. They (USDA) said they were backed up to extend the closing date so we did. Now the attorneys office says the title search company says my house isnt on a county maintained road & it isnt. All the neighbors take care of the road when it gets to bad. The girl buying it is a Game Warden & is fully awear of the road conditions & is fine with it. Will this be a deal breaker or can they exclude this "problem" if they want to? The girl is already like $1000 invested in what she owes for the inspections & having my septic tank pumped out plus she went by the closing date & gave her notice to her apartment people & things changed then she was homeless. So she is renting my house until closing & that is another $600 a month. I just cant see them tellingher all is good & having her become financialy obligated into these inspections etc then tell her nope we wont loan to you because it is on a non county maintained road. They say they cant guarentee access to the property. In the 30 years everyone has been out there we have never had a issue & were the type of neighbors who help each other & take care of things.
Yes, it's a problem, might not be bad, but can be. I suspect you have a deeded road easement. You also need a "road maintenance agreement" for loan purposes, it's the seller's responsibility to provide merchantable title, if folks can't finance it, it's not fully merchantable. Need to get with neighbors, get an agreement and file it for record to run with title with the easement.
Might take time to get it done. She should not have paid to get the septic pumped out, that can be done as a last matter issue when docs are ready for closing.
I'd continuing renting to her to closing. USDA will have these requirements as do all other conventional financing programs. Not only do they want a deeded easement but also an agreement to maintain a private road, if it were washed out, access can be denied. :)
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