Environmental
In Nebraska, disclosure of a private well's condition or water quality test results is important because:
AAll Nebraska homes are required to have municipal water
BGroundwater contamination is a known concern in agricultural regions of Nebraska✓ Correct
CThe EPA requires federal registration of all private wells
DPrivate wells automatically qualify for federal subsidies
Explanation
Nebraska has significant agricultural activity and groundwater is widely used. Nitrate contamination and pesticide runoff can affect well water quality, making well condition and water test disclosures important in Nebraska transactions.
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Key Terms to Know
Private Mortgage Insurance (PMI)
Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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