So, in our "declining market" it is very common practice for the REO listings with pools to be drained. Otherwise the pools need to be maintained which of course will fall under the responsibility of the listing agent. I believe it is a city ordinance that the pools be drained because it is a "health and safety" issue to have the standing water providing a mosquito breeding ground especially in the hot summer months.
Interesting. I am selling an REO pool that has been drained. The buyer is purchasing the home with an FHA loan backed by HUD who is also very concerned with "health and safety" for the buyer's purchase. In the eyes of HUD a pool must be filled in order to be safe because if someone falls, guess what, that can be a major safety hazard. I guess that makes sense. Doesn't it? Or does it? An FHA bought home must have the pool filled (which takes up to two days to do) or it must have a fence all the way around it.
But wait, I have a 17 day escrow that needs to close! I don't have two days to fill the freekin' pool! AND my buyers are going to turn around and drain it again so that they can do the plaster work that needs to be done on it.
Ah! Susan Manning, Realtor and More to the Rescue!! After some quick thinking on my feet, I remembered there was a net over the pool to prevent anyone from falling in. (A great safety tool that is much better asthetically than a gated fence can look.) So, in essence all we need to prove to the FHA underwriter is that the pool is safe, right?
I've been known to be on the net, but not quite this literally!! Here is a picture of me risking my life for a closing. Beat that! I was told that I needed to stand on the net, but I sure hope sitting on it works! I can barely walk upright on solid land little own a net made out of some sort of plastic rope. Yikes! Anyway, I felt like a clutz going out there, but I think it worked! How do you like me now??????