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Updated almost 12 years ago on . Most recent reply

Account Closed
  • Commercial Real Estate Broker
  • Denver, CO
1
Votes |
16
Posts

When do I mention the work to be done?

Account Closed
  • Commercial Real Estate Broker
  • Denver, CO
Posted

HI yall!

So for the longest time my family has had a 2BR cottage in Wisconsin as well as a plot of land. Both are lake front properties on a very nice, desirable lake.

We don't want to have either property any more and are looking to sell both to buy a cottage a little bit closer to our area (our present lake is 3 hours away from our home). We haven't listed it with a realtor as we aren't in any huge hurry to sell. A few months ago, in an attempt to get some feelers, we put up a for sale by owner sign out front. We've gotten a handful of inquiries but my Mom, who is handling the calls, doesn't know how and when to notify the potential buyers about a structural issue with the house.

The problem with the cottage is that the floor in the family room is borderline caving in. It's been happening now for some time. Our land is below our neighbors and there was a massive rainstorm that caused the lake to flood, subsequently causing some structural damage (that's the theory at least). We've gotten it looked at and it was estimated to cost about $6k to repair the floors.

So my Q is, how do we handle the maintenance issue without scaring away potential buyers? Those that have called seem to be turned off when we mention the issue upfront. We also don't want to not mention it and have them see it for themselves when they walk in the place if they're interested in looking at in person.

Thanks in advance for any and all input.

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