Are you selling or buying a home that has groundwater evidence or standing water in the crawlspace or basement? This is a common home drainage problem that prevents many sellers and buyers from closing escrow on the home they are buying or selling.
The reality of this subject is that it is too late to do prevention. It is time to discuss solutions to the home groundwater problem in order to save the real estate transaction It may not constitute a reason to not buy the home, but if you are the buyer it will impact the ability to finance it.
The Portland, Oregon area has more than its share of home groundwater drainage problems. After decades of buying and selling homes in the Portland metro area, experience has given me the perspective that I have on home groundwater problems.
I know that the homeowners that invest in prevention are saving themselves thousands of dollars maintaining the value of their home. Sellers that practice prevention of groundwater problems are not having to shell out big bucks to solve home groundwater problems under the gun when they are selling the home.
When home drainage problems are serious, the homeowner seller loses on both ends. The sellers must discount the sale price of the home because of the existing home drainage problems, and they still must pay for the groundwater drainage repairs to effect a solution.
Buyers in this real estate market are not likely to pony up additional cash to solve the sellers deferred maintenance. There are too many homes out there on the market without home drainage problems. There may even be dryrot or structural problems in the homes infrastructure, namely the post beam and foundation of the home.
If the sellers refuse to spend the money to solve the home drainage problem, they will likely lose the buyers from an interest perspective, or the inability of the buyers to get the home financed to conclude the transaction.
The sellers are just buying back the home at their own asking price. That is what is actually happening. Penny wise and pound foolish.
The way around this hysteria and outlay of mega cash is to stay ahead of the home drainage problem. Have the home inspected periodically during your tenure of ownership. Discover and deal with the home drainage problems before they cripple your home and your wallet.