Imagine my surprise when I learned today that one of the Triangle's major developers DR Horton has been very quietly selling the mineral rights under the homes their building in Chatham, Durham, Wake and Orange counties to their own energy company DRH Energy since 2010. For more information on this, check out this article from Indy Week.
I have always considered DR Horton to be an average quality production builder, that offered reasonably good value for the dollar and have not hesitated in the past to show their homes to buyers interested in new construction but with a limited budget. As a Realtor who has always been in it for the long haul, I will now have to reconsider my willingness to do so and if a buyer client is interested in a Horton home, I will certainly be disclosing this ugly piece of information, that they may find a Fracking well on their land at some point in the future and they will have no rights in the matter.
I understand that our state attorney generals office is opening an investigation into the matter and I hope that they move quickly to either stop this practice outright or at the least force DR Horton to prominently disclose this fact in all of their advertising and at the first point of contact with potential home buyers.
The issue of "fracking" which has not yet been approved here in North Carolina is a serious one and is already contentious. Underhanded moves like this one will only make it more so and I caution all buyers of new homes to aggressively ask questions of the builders/developers you're considering before signing any contracts.
For more on this issue read: Why North Carolina property owners will be hurt if “Fracking” is permitted.
Posted by Larry Tollen on
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