My question involves real estate located in the State of: Michigan
My husband and I decided to make a bid on some property located near our family's summer cabin.
We went through the local real estate that had the contract and made a residential offer to purchase. The seller accepted the bid with the agreement that the area located to the west of the property line would be surveyed because of existing electrical poles located along the property line.
My husband and I set up everything with a local bank and our broker in Chicago. We were all ready to go ahead with the financial end of the purchase.
Then out of the blue one of the real estate's associates calls and says we have a problem.
The survey had come back and part of the house and probably the septic field and the well are located on property belonging to the U.S. Department of Forestry.
I am looking for any advise. What are the real estates responsibilities to both the buyer and seller and what actions do they need to take. What will be their course of action. I want to be the educated buyer.