Tuesday, May 21, 2013

Repair Basement Water Problems Before You Put Your House on the Market

For those homeowners who have wrestled with water in the basement, what will happen if you ever list the house for sale. A legal disclosure will ask you to respond, yes or no, to this statement: "I am aware of flooding or recurring leakage problems in the crawl space or basement."

In other words, does the term "water in the basement" send buyers scurrying away?

If you have addressed it, then not necessarily. Will it have lasting financial impact on the sale of your home"it depends.” What it depends on is if you have fixed the water problem or not.

Yes, the disclosure, is required by the state Massachusetts. Sellers and buyers have to have a level of clarity on what happened and how the basement water problems were addresses.

The more upfront the seller is the better. Explain what happened and when, this is how severe it was, and this is what we did to deal with it. That's the No. 1 thing to do.

The more you disclose, the better off you are. If you aren't honest, you're setting yourself up to be sued later.

Beyond the written disclosure, though, water intrusion can make a difference to closing a sale on several levels, agents said.

Agents say that if water has been in your basement and you envision listing the house for sale, it's best to bite the bullet and call basement water professionals to tackle whatever remediation is called for, and get the work warrantied, in order to reassure would-be buyers.

If you have basement water problems in your home that you want addressed before you put your home on the market, contact A-1 Foundation Crack Repair.