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Originally Posted by Sherifftruman
My main point is if the well is a mile away what difference does it make if you have mineral rights or not? The water can become contaminated due to activities unrelated to the property in question. Not lending on a property without rights in no way limits risk. Only avoiding all properties in the area does that.
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Of course. A bank would obviously be most reluctant to cover a property most likely to be the site of contamination, hence their refusal to loan to properties without mineral rights. We're all talking hypotheticals here but if a fracking site were set up, my guess is every house nearby regardless of mineral rights will have a hard time selling. Which is why it's important for all homeowners to be aware of the issue and active in discussion.
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Also, contamination is not guaranteed and most subdivision houses in this area have no use for groundwater anyway.
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Not guaranteed, but highly likely. Enough so that multiple banks have decided it's not worth the risk. As for groundwater, plenty of houses further out in the sticks in the known shale area still have well water, plus there's blowbacks, spill, earthquakes, etc. etc.
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