A month ago I wrote about a buyer’s inability to have a house’s plumbing tested during the home inspection in “Inspecting a Winterized Home for Sale in Aurora“. The city of Aurora had turned off the water since the seller hadn’t paid the water bill.
After the seller’s agent paid the bill, the agent, an Aurora Water Department employee, a plumber and I met at the house. The water was turned on, but only briefly. A leak below the master bedroom bathroom appeared quickly in the den below. The 4 year old house’s winterization hadn’t completely protected the plumbing!
Since the house was being sold “as-is”, my buyer had the difficult decision of whether to go forward with the purchase. Until this leak was repaired there was no way of knowing how many other leaks may have resulted from the lack of proper winterization. Both the plumber and water department employee said there was a good chance of more leaks. The water department employee said he’d seen as many as 20 different leaks in homes where pipes had frozen during the winter. He said the houses end up looking like Swiss cheese with all the holes in the walls needed to repair the plumbing.
When I could talk privately with my buyer I suggested that if she still wanted the house, that she offer to go forward with the purchase for $10,500 less than the agreed sale price. She liked the idea and so did the seller who accepted the price reduction.
Fortunately, it turned out well for my buyer. Much to the amazement of the plumber, the leak turned out to be the only one! The cost of fixing the leak was less than $1,000.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
