I get a lot of phone calls from blogs I've written about financing a home connected to a shared well with more than 4 homes using a FHA loan. Many people find my article on Google titled, "Are You Buying A House In Arizona With A Shared Well Connected To More Than 4 Homes". Most of the time, the buyers lender will not finance the home, but I am often able to assist them with financing. In many cases, the buyer has the exact scenario outlined in the blog. 
I'm only licensed in the State of Arizona to originate mortgage loans, but I often receive calls from across the nation. Believe it or not, many states have the exact same problem with shared wells and FHA loans. I usually try to help the loan officers I receive calls from in other states by paying it forward.
I received an email this morning that made my day. Here's what it said:
Hello David,
I promised that I would get back to you about my nightmare situation regarding shared wells and FHA.
We finally went out to all 4 duplex properties to figure out which property was on which well. We had prior permission from all the tenants and owners to enter the properties. The buyer, seller and realtor for the subject property accompanied me, along with an electrician and a well installer. Long story short, despite there being two wells, all 4 properties were on one well and one pump. This came as a surprise to everyone. There was a second well on the property adjacent to the subject, but that had been shut off with a curb stop some time before. The seller looked at the costs of reconnecting to the old well and paying for a shared well agreement and decided it was just cheaper and faster to drill a new well on the subject property. That was done on Friday and we're just waiting for the water quality test. A local engineering company did the site plan for us by updating an old plan they had done previously. The seller paid for the well and the buyers paid for 2 hours of time for the inspection of the electrician and well installer.
By the way, this involved a lot of standing outside in near zero temperatures in a foot of snow. It just goes to show what can happen when everyone involved is working towards the same goal!
Thanks for taking the time to talk with me.
Marcia Robinson Loan Officer
Merrimack Mortgage Company, Inc.
221 Main Street, Suite 202
Nashua, NH 03060
Tel: 603-821-5184 ext. 203
Fax: 603-821-5188
www.MortgagePlannersNE.com
License Number NH163093
That's awesome! Perseverance will lead to great things. Thanks for sharing your story Marcia.
About the Author
My name is David Krushinsky and I am a Phoenix mortgage specialist that is truly passionate about my profession and the result is that nearly 100% of my business is by referral from satisfied clients, trusted financial advisors and the most experienced REALTOR®'s in the Phoenix area.
Questions? Call 480.339.1576 or Visit My Website
Great story. I am glad that I have not encountered a shared well here.
Well. I went to the web site and it doesn't say how it can be financed under FHA with more than 4 properties sharing a well.
The post just says to call you.
Hi Lenn! When I originally wrote the article, I did have that information in the article. I removed the information from the article to prompt a call to action. :)
Smart move. I don't publish information that would help other agents compete with me either.
David, you are a warrior!
Nice job David - Using your experience to help others will lead to great things!
Wow this is something I have never had to deal with! Kudos for you being a stand up guy and lending a hand when compensation is not involved!
Thank you so much David for the quick call back and the great information! You have made my entire night and hopefully I can now easily get my house (with shared well) sold to the FHA buyers that want it. Where there's a will there's a way!