Is the Absence of a Negative a Positive? Yes, But . . .
Do home sellers get credit for a dry basement?
Answer: “absolutely” (I mean, “you betcha!”).
It’s just not something that — as a listing agent representing the owner — I’d necessarily put in the home’s marketing materials.*
Rather, a bone dry basement ensures that the Buyer’s inspection will go that much more smoothly, and that the Seller doesn’t have to worry about hearing from the Buyer after closing (at least on that issue).
Raising Eyebrows
Not only wouldn’t I raise the issue of a not-wet basement prior to the inspection, my Realtor’s gut tells me that discussing it might actually be counter-productive.
That’s because calling attention to the basement begs the question, “Why does the Seller feel it’s necessary to tell Buyers that the basement isn’t wet?” (and by inference, “what are they hiding?”).
25 Listings — Out of +14,000
A quick search on MLS confirms the wisdom of the above approach.
Out of more than 14,000 active listings, an infinitesimal 25 include the term “dry basement”:
http://matrix.northstarmls.com/DE.asp?k=475764XbbZT&p=DE-123660076-589
The majority were located either in small towns or rural areas far removed from the Twin Cities; none were asking over low $200’s (and the majority were under $100k).
The common denominator?
Many of the homes were close to bodies of water.
Apparently, such Sellers are anticipating that prospective Buyers might be concerned about wet basements — and are proactively trying to defuse the issue.
*Imagine the following singles ad: “attractive, successful professional enjoys travel, reading, and classical music. Physically fit and cancer-free.”
What in the above list jumps out at you? (see what I mean??).
See also, “Wet Basements: Who’s Responsible?”
