I am trying to put my house up for sale-however my basement is in need of help. It was finished by us, but a terrible storm left three feet of water and ruined everything. It has not flooded since, but we have removed the lower half of the walls and all of the carpeting.
My husband wants to re-finish it-as if the flood never happened. I would like to take everything down and sell the house with a full UNfinished basement. I would hate for a new owner to go through the heartache of having a room destroyed by a flood.
Any personal experiences with this decision? Or opinions from people in the real estate business?
2007-02-19 08:54:02 · 6 answers · asked by Jan 1 in Business & Finance ➔ Renting & Real Estate
you have to disclose the flood, it's the law. Don't let your husband talk you into that, it's kind of sleazy and if you got caught, which you might (neighbors talk) you could get sued.
Just sell it with the unfinished basement---unless you've added a french drain or some kind of drainage system, in which case you could refinish it but why spend the $$?
2007-02-19 09:49:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Lots of basements flood. You maybe should consider buying a sump pump.
But again its very common for basements to flood some, they are udnerground afterall, so I think a house will sell despite this. It is illegal not to disclose ifnormation such as that though. It may sell for more with a finished basement, but it may not, and will take time and money to finish it.
I don't know if it would be worth it to finish it, especially if you are just doing it to decieve someone which is just wrong. I would just clean it up to make sure there is no dangers such as mold and leave it at that, if the new buyer wants to undertake finishing it leave it to them.
2007-02-19 09:03:11 · answer #2 · answered by slawsayssss 4 · 0⤊ 0⤋
Do not listen to Clark. I do not know what agent he works for, but i would not want to buy a home through him.
You absolutely have to disclose the fact that the basement flooded, even if it was only once. You do not want the buyers coming back and suing you because you hid the fact by redoing the basement as if it never happened.
Now I am not saying don't redo it, just disclose that the basement was flooded and it needed to be redone.
RE Agent,
Remax
2007-02-19 10:02:50 · answer #3 · answered by frankie b 5 · 0⤊ 0⤋
Well, make sure you don't even think about lying about it to any prospective buyers. Finishing the basement could be cost-effective way to maximize the sales price of the home though, so it might make sense to do.
If you're working with a realtor, what do they suggest?
2007-02-19 09:03:24 · answer #4 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
Listen to your husband......it flooded during a flood right? Redo and make it look as thou it never happened. I do work for a realtor here painting rearanging houses on market to make em sell faster. Its part of the buisness to make em look as good as possible to sell. Its amazing what a fresh coat of paint and new floors will do for a house. Good Luck
2007-02-19 09:06:12 · answer #5 · answered by Anonymous · 0⤊ 0⤋
as long as you probably did not misrepresent any data or information about the domicile once you bought it. this does no longer advise they gained't attempt. in the adventure that they do get a legal professional, one it is experienced with authentic sources regulation. also search for advice from the realty agent you used to promote the domicile.
2016-12-04 09:33:51 · answer #6 · answered by miracle 4 · 0⤊ 0⤋