If you’re in the process of buying a home and the well inspection reveals the property has shared water, it’s important to consider all that this entails. While sharing a well has its advantages, there are drawbacks to keep in mind before moving forward with the sale. To determine whether it’s wise to proceed, start by reviewing any existing well agreements. Here’s what you should know about such contracts—and what you can expect upon entering into one yourself. 

What Is a Well Agreement? 

A well agreement is a legally binding contract between two or more parties that share a water source. They're especially common in more rural areas, where it’s normal for multiple homes to draw their water from the same source. In such a scenario, the well and its submersible pump are typically located on just one of the properties, but all parties that use them are responsible for well inspections, treatment, and other ongoing costs.

What Should It Address?

If you’re planning to purchase a home with a shared well, it’s wise to get an agreement in writing—regardless of what kind of arrangement the prior owner had. Furthermore, if you’ll be financing the property with a certain kind of mortgage (an FHA loan, for example), securing a well agreement will be required. This will entail scheduling a well inspection, consulting with the other users, and drafting a legally binding contract that addresses all aspects of sharing the water source. 

A real estate law attorney can help you write this contract to ensure it addresses everything. Generally speaking, the terms of the agreement will state each user’s financial obligations regarding repairs and maintenance. The well agreement should also clarify who will be billed for the electricity that runs the pump. In most cases, all parties are responsible for equal shares of the well’s operating costs, regardless of whose property it sits on. 

Whether you need to schedule a well inspection for a property you’re considering or well cleaning for a home you already own, turn to Gainous Well Drilling. Based in Cairo, GA, this family-owned and -operated contractor is proud to provide comprehensive water well services for residential and commercial clients throughout Grady and Thomas counties. Backed by more than 50 years of experience in the field, their technicians are equipped to handle all your water well needs. To learn more about the services they offer, from well inspections to pump sales, visit their website or call (229) 377-7883.