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Updated over 6 years ago, 04/16/2018

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7,340
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Mindy Jensen
Pro Member
  • BiggerPockets Money Podcast Host
  • Longmont, CO
10,044
Votes |
7,340
Posts

Disclose Past-But-Fixed Water Issues?

Mindy Jensen
Pro Member
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorPosted

A friend and neighbor is considering moving. I would list her house.

She has a desirable home - .75 acre lot in an area where .1 is huge. 

The problem is that I think the house was built on top of an underground lake. I've never in my life known of a home with so much water in the basement.

She had a trench dug out in the basement, and a drain system installed with 3 turbo-charged sump pumps.

Since installation, there has been no water, and it's been a couple of years. 

I'm a "disclose everything" kind of agent. This one is a bit different since I have first-hand knowledge of the defect - I even helped her bail the water out several times. 

We're in a super-hot market, so I think it would still sell. But it's been repaired, so disclosure is not required.

I know what  I have to do, but I  want to hear it from you all, too.

@Russell Brazil@Dawn Brenengen ? @Jonna Weber@Dan Mackin@Anson Young?

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