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Don_P
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# Posted: 29 Apr 2016 20:53 - Edited by: Don_P
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Our VFD is about 7 miles and 45 minutes away, if the trucks crank, but the only equipment that can get up here is the brush truck and the ambulance. things to think about that when building as well. The big trucks were idling at the bottom. I didn't mention, we do have automatic backup heat, ours are more concerned about that. The insurors would go broke here if they excluded wood heat.
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Julie2Oregon
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# Posted: 29 Apr 2016 21:04
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Thanks for the insights, silverwaterlady. Wow, I didn't realize your cabin was on an island!
Don_P, Yeah, meth is a sad story in rural life these days. Everywhere, actually. 
Although nothing is 100 percent, the property I'm most interested in is probably as close as one could get to that in not being associated with meth. I was able to follow its sales and tax history online and spoke with the agent handling it. She didn't know that I'd done some research and what she told me jibed with what I found so I know it's legit.
The cabin is owned by a couple who bought it for a song several years ago as a foreclosure. I saw the pics online of what it looked like then and, of course, what it looks like now. They basically had it reconstructed and they hooked it up to electric. I can't tell from the history if they put in the well and septic or if the previous owners did but I do know they did some work on that. They've put a lot of money into it and they used it as their weekend house. They're locals. This part I can't verify but the Realtor says they have an historic home in the city they work on and they want to cash out on the cabin.
Sounds reasonable. Maybe I'm naïve but, at face value, I don't think someone would spend a lot of money making a rural cabin really nice to use it for meth. The other cabins are in a resort area with less land and closer neighbors.
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Don_P
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# Posted: 29 Apr 2016 22:36
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I doubt they did either. Just one more possible reason that came to mind why someone might want to do a cash sale.
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silverwaterlady
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# Posted: 29 Apr 2016 22:37
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Julie,our cabin is on the largest freshwater island in the World. 
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Julie2Oregon
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# Posted: 30 Apr 2016 18:27
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silverwaterlady
That's awesome! How beautiful that must be!
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toyota_mdt_tech
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# Posted: 30 Apr 2016 21:23
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Quoting: silverwaterlady The reason for a cash sale? A mortgage cannot be carried because the owner does not have the cabin insured (meaning it is uninsurable,for whatever reason)it is therefore a liability to the mortgage company holding the loan.
I looked into insurance for my cabin, no deal, I need to have power, phone, and a fire hydrant nearby or within a mile of a fire station.
So a mortgage company wont lend on a place they cant insure. Mine is all permitted legally too.
That may be a reason for the cash only. A lender will demand insurance.
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Julie2Oregon
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# Posted: 30 Apr 2016 22:42
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I'm pretty sure they make an allowance for no hydrant if you have your own water supply. And if you don't have a well, then there's a stipulation that you must have a large cistern and prove that you have a licensed delivery service that can/will provide water to your residence.
I *think* a dedicated water supply (large tank) for a fire might be required if you don't have a well but I'm not 100 percent sure of that. It's something I'd need to check, obviously, if it came into play. I think I might want that, even with a well, for added peace of mind and benefit if a wildfire sprung up. It would certainly help the insurance aspect.
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toyota_mdt_tech
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# Posted: 1 May 2016 15:43
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High fire areas, residence actually install a leech pipe across the ridge and pipe under eaves with spray nozzles. If there is a fire, it wets down the overhangs and roof. You would need a system that can run it all the time for an approaching wildfire and run when the power is out too. Fires tend to always take out power.
Also, I might add, after the fires last summer, insurance companies are halting adding insurance or new policies. They are just waiting/stalling now.
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MtnDon
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# Posted: 1 May 2016 20:31
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Quoting: toyota_mdt_tech insurance companies are halting adding insurance or new policies. They are just waiting/stalling now.
Can you blame them?
And not just not selling new policies to new applicants but also demanding tree clearing to 30 feet before renewing existing policies and jacking premiums on renewals where the exterior siding is something very flammable like standard wood siding.
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toyota_mdt_tech
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# Posted: 1 May 2016 22:26
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Quoting: silverwaterlady largest freshwater island in the World
Google. 
Manitoulin Island. Cool place. 
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bldginsp
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# Posted: 1 May 2016 23:57
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The general assumption in my area, a high fire zone, is that you can't get insurance at all unless you meet a long list of strict requirements, and even then it's so expensive that few people get it.
In California you are now required to instal a 2500 gallon water tank at each new rural residence (that has no hydrants). But you aren't required to keep it full of water, or if you are they don't come inspect them to verify. So some people don't fill them with water, but pour their used motor oil and radiator coolant into them because it's cheaper and easier than taking it to the recycling.
Another interesting aspect of having water tanks is water theft. There have been, so the Fire guys say, instances where people drove a water truck up to someone's tank and helped themselves. Chapter 638 of California Water Wars.
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toyota_mdt_tech
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# Posted: 2 May 2016 08:51
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Wow, I cant imagine someone dumping in motor oil or old coolant. That is absolutely nuts considering parts stores all have waste oil dump sites at no cost. Nuts.
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Julie2Oregon
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# Posted: 3 May 2016 16:51
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I just thought of something. The place near the top of my interest list is in an area with homes around it that have sold for around $150,000 and higher. I'd have a hard time believing those were all cash sales, so those folks must have mortgages that required insurance and they were able to get it. I should look up Sprague River and see what sort of volunteer FD they have.
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Julie2Oregon
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# Posted: 3 May 2016 16:55
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And here it is. The Sprague River fire department.
http://spragueriver.webs.com/srvolunteerfiredept.htm
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Julie2Oregon
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# Posted: 6 May 2016 18:15
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So I spoke with an unexpectedly candid Realtor about these cash-only properties in general and, she said, as a rule, they're not financeable for some specific reasons. Off-the-grid properties aren't, outdated wiring and plumbing (by the current code) aren't -- those are the biggies for the type of cabins I'm looking at.
HOWEVER, if the price is exceptionally good, there are two loans -- FHA and Fannie Mae -- that allow you to roll in reno costs with the mortgage if the appraised value, once the work is done, would equal or exceed the total of the reno amount and price.
That's a serious consideration for me if a seller would agree to it. I did something very similar with my current home, except I paid cash. I got it as a foreclosure during the housing crash dirt cheap and with my extra cash, I upgraded a ton of stuff over time. The result is a nice home that's worth far more than I paid for it and invested in it.
I found a cabin in a FANTASTIC area for $35K. It needs work but is totally livable so I could move in while the work is being done. The foundation is concrete and the structure is sound. It needs electrical and I'd update the roof and windows, plus do some interior updating and probably increase insulation. I'd change out the wood siding to Hardiboard lap or LP Smart Siding, too. If it took $25-30K to redo the place to my liking, that's making the place pristine for $65K in a prime area of generally expensive properties.
It might be worthwhile.
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