Property Value

Before a real estate sale can take place, property owners must disclose any faulty conditions to real estate agents and potential buyers. A homeowner who fails to disclose a leaking basement or crawl space could face costly litigation

 

A leaking basement or crawl space would likely end any chance for a full-value sale. At best, the current owner would be required to repair the problem; meanwhile, the sales price is driven down.

In addition, mortgage lenders are hesitant to lend money on leaking homes, real estate agents have a difficult time selling these homes, and insurance companies may not insure them or pay for repairs caused by foundation leaks, depending on the particular policy.

Look at the photographs on this page and ask yourself: Would I purchase another home with a leaking basement or crawl space?