Investor · Fort Myers, FL · Member since 2012 · 462 posts · 200 votes
Can you get a conventional mortgage on a home with a green pool ?
The pool has a net covering over it. It would be the only possible hang up I can see for financing.
Anyone have any experience with this ?
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
11y
FHA, no. Conventional, doubtful. For you non Florida guys.....you do Not want to empty a pool in S Florida, if you don't know what you're doing. You'll learn the reality of a pool "popping out of the ground". Hint, we have a high water table and concrete "boats" do float.
Real Estate Investor · Santa Rosa, CA · Member since 2014 · 60 posts · 33 votes
11y
You can get a loan but certain lenders may require it get taken care of first. FHA loans will not go through til it's resolved.
If you are looking @ a property with a "green" pool get a pool guy in there to asses the whole system. "Green" may be the tip of the iceberg.
Ask the bank and find out their guidelines for pools. If they do you can have the seller fix it or get a credit. Best thing to do is start asking and fixing it now or it can drag out closing.
Homeowner · Signal Hill, CA · Member since 2015 · 521 posts · 70 votes
11y
i'd be so anxious to get the propertly holder to empty it and stop it from getting greener then refill and see if pumps even work; but can see how that would be hard to get done if the water and/or electric r already shut off.
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
11y
FHA, no. Conventional, doubtful. For you non Florida guys.....you do Not want to empty a pool in S Florida, if you don't know what you're doing. You'll learn the reality of a pool "popping out of the ground". Hint, we have a high water table and concrete "boats" do float.
Lender · Richardson, TX · Member since 2014 · 537 posts · 228 votes
11y
Originally posted by @Account Closed:
shucks, how do yall do it then, emptying while adding in, gradual water change in other words?
I used to have to clean up the pool at my parents house every summer when I returned from college. You have to shock it with acid, let the stuff collect on the bottom, and vacuum it.
Investor · Colorado Springs CO · Member since 2014 · 535 posts · 253 votes
11y
Hmm, I'm trying to remember what happened for us. When we bought our house, it had a green pool, and I think they just had to have it emptied before we closed escrow on it. It was a REO. This was back in 2008 and our lender was Chase, so who knows if things are different now. Can't you just ask your lender?