Smoky mountains dry well

[John Carbone]

I just came across this new listing, the well went dry and they are selling for cash. On the surface this seems to be the only thing wrong with the property. It seems like it’s selling at an over 50 percent discount because of the issue. I’m assuming a new well can’t be drilled to find water and essentially it’s just a primitive camp site. 

I also see it was a shared well and they built a 1600 square foot “1” bed that probably slept 8-10 on overnight program.

it’s crazy to think that your well runs dry and you lose several hundred thousand dollars in equity. interest to hear people’s thoughts on this. 

https://www.realtor.com/reales...

[Nathan Gesner]

If the Sellers and their agent have two brain cells to rub together, they would have researched the ability to add a well before listing the property that low. Either they are really dumb, a new well is not an option or too expensive, or they are looking to generate a bunch of excitement that will drive the sales price up through multiple offers.