You Don't Expect a Top Floor Condo to Flood
Patricia Feager and Kathleen Daniels are hosting the March challenge. Your challenge is to use critical thinking. Only original content qualifies. Think about a scenario that can march you into trouble. Please write about a scenario that has the potential to come up during a real estate transaction.
I've sold hundreds of HUD owned properties and have seen some pretty bad conditions. However, we found a top floor condo in a modern building in Germantown, Maryland for my first time home buyer, a young single man. The unit was is very good condition and a fresh coat of paint would make it look like new. My buyer was the high bidder and the settlement had been scheduled.
I received a notification that the building has been flooded from the top floor down. The HUD policy of turning off utilities and having the units winterized failed this time. The sprinkler system had frozen and the water lines had bursted. When I went to the condo to check the damage, I expected ceiling damage. However, the ceiling and sidewall sheetrock had been torn open as the workers searched for the leaking water lines. I have seen a number of properties that flooded before the contract but this was my first experience with a HUD property flooding after the contract was accepted.
I told the buyer that I would try to get everything fixed for him. Fortunately, I had a good relationship with the HUD staff in the Washington, DC office. They went out to inspect the damage and assured me that the needed repairs would be made. I was happy to see the condo restored to like new condition and we proceeded to the delayed settlement.
In the real estate business, we need to be able to cope with the unexpected at any time. Fortunately, this story had a happy ending.
Chrysanthemum, Longwood Gardens, Kennett Square, Pennsylvania USA
IMG 7836
Canon PowerShot G11 Camera
Photograph by Roy Kelley
Roy and Dolores Kelley Photographs
Comments(14)