Posted on: 15th Jun, 2012 03:58 pm
I would like to know if all lenders require a well to be tested in Tennessee or just government loans?
Hi Guest,
As far as I know, all lenders have to be licensed in order to operate in any state. I did not understand what you exactly want to mean by "tested". Can you please explain?
As far as I know, all lenders have to be licensed in order to operate in any state. I did not understand what you exactly want to mean by "tested". Can you please explain?
Do all lenders and mortgage companies require a well to be tested prior to lending when someone is buying a home with a well.. I live in Tennessee and want to know if this only required for loans such as Rural Housing or is it all loans? I hope this helps.
I should have said tested for bacteria and other things like iron, etc.
As far as I know, yes, the lender may ask you to test the well and check out if everything is fine before they lend you money for the property.
Yes, It is necessary that all lenders are to be tested properly before they are providing load to them to avoid any malpractice or fraud in the future.