What to Know About Purchasing a Property on a Private Road in Manchester, WA

There is no doubt that there is some allure to living a quieter life in the country. We live in a very fast-paced world that can often fill too stressful. This is more than likely the biggest reason why more and more people are trying to find places to live a little more remotely. If the property that you are looking at purchasing is on a private road, there are some things that you should know moving forward. Straight Up Tractor Services is here to talk about what it takes to live on a private road.

What Does a Private Road Mean

When most people think of a private road they are more than likely thinking of a countryside. Well this might be true, there are also private roads found in subdivisions that are run by HOA’s, housing co-ops, and other groups of private homeowners. A private road is a road that is maintained by someone other than the government. They have become more and more popular since the turn of the century. This is especially true of private roads that run through subdivisions.

Know Who is Responsible for Maintaining a Private Road

In most cases, if neighbors share a private road they will also all share the cost to maintain it. When it comes to a private road, there is usually a contractual agreement that spells out the responsibility of maintenance between all homeowners who use and benefit from the road. Having a road maintenance agreement is important when it comes to private roads. When they are not put in place, it can be difficult to get the financing completed on the purchase of a home on a private road.

The Ins and Outs of a Road Maintenance Agreement

At the end of the day, a road maintenance agreement is in place to plainly spell out the responsibility of road maintenance for a private road. Hopefully, this road maintenance agreement is already in place as the developers of the properties finalized it before properties were purchased. If you are looking at a home that does not have a road maintenance agreement in place or own a property with a private road that has no road maintenance agreement, it is possible for homeowners to create one. If there is a homeowner that is not willing to sign the new road maintenance agreement, it can pose problems for anyone that is attempting to purchase the property.

Does Fannie Mae & VA Loans Require a Private Road Maintenance Agreement?

There are several financial institutions such as Fannie Mae and VA loans that will require road maintenance agreements to be in place in order for funding to go through.

Land Management Services in Bremerton, Silverdale, Poulsbo, Bethel, Port Orchard, Key Peninsula, Gig Harbor & Belfair, WA | Kitsap County & Mason County, Washington

If you live on a private road and are looking for a land management company to take care of your private road maintenance, you can turn to Straight Up Tractor Services to take care of and maintain your private road. Call us today!

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