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...