Question re: real estate practices in ND (Pembina, Neche: homes, companies)

[la0508]

Hi--I am buying a home in Neche on 20 Acres bordered by Pembina River (surrounded by Army Corps of Engineer approved dikes--didn't flood in 1997 or in 2006 spring), and have some questions on what is customary for sellers to do in North Dakota. Of course, I realize that what is customary can be altered by agreement, but still--in California it is generally expected that the seller will provide the buyer with a septic inspection and pump-out at the seller's cost. Is this true in ND? Do you have termites in North Dakota? The seller virtually always provides a termite clearance in Cal. The home I am putting an offer on is immaculate, and looks like very well maintained. The basement appears to be concrete and in perfect shape. It is painted, but I see no evidence of water seepage, no musty smell, looks perfect. Finally, do the rural areas use escrow companies? The broker for this transaction, who is exclusively the seller's agent, intends to hold the funds in her trust account until close. I like the informality; however, in the event of a problem, as the seller's agent, she could not withhold funds from him if he directed her to turn them over, regardless of my position on the turn-over, unless she was clearly and explicitly acting in a separate capacity as escrow agent. In other words, an escrow agent is a NEUTRAL stakeholder who follows the instructions of the parties, and when they disagree and cannot come to an agreement, the escrow agent must file what is called INTERPLEADER in court, asking the court to decide between the parties. Without direction from the court,, the escrow holder cannot do a thing with the money. I'm not anticipating any difficulty, but I am not altogether comfortable with handing my money to the seller's agent hoping all will go well, without benefit of what I have long assumed to be the customary protections afforded a buyer. HELP!

[DaninEGF]

Hello

Glad you found a place in Neche. You probably found one of the few places that did not flood last spring there...I know they had terrible problems and a lot of controversy there as the canadians built a levee (or they call it a road) along the border and the water from the river flooded the U.S. side and not the canadian side. People were very mad. Here is a comprehensive link regarding spring 2006 flooding issues concentrating around fargo and then up north where the worst of it was.

http://www.in-forum.com/collections/..._2006_flooding


As for your questions....boy I just dont know. I closed on two homes both in the city and both times money was put in a escrow account. I just assume that is the common practice. I dont have any info on septic tank issues as I am on city sewer. As for termites.....there are none this far north too cold. I did not know that either when I moved up here and I asked about a termite inspection. But you dont have to worry about that one.

By the way....did your kids get into that mobile home in GF?

Dan