House Flip w/ a Pool
I'm in the middle of flipping a house right now that has an inground pool. I'm a little over budget and really hoping to sell the house at the high end of the comps and the backyard/pool area is a big selling point for this specific property so I'm trying to figure out what I should do with it.
At the moment the pool is closed (with an elephant cover) and has been since I bought the house. I'm trying to decide if I should bother opening it, seeing if everything is working and then closing it. The thought process is that I should have it closed for liability purposes during any showings, so if I do decide to open it I'll have to close it right after. Here are all the pros and cons (of opening it) that I can think of:
Pros:
-can get good pictures
-will know if it works / exactly what is wrong if it doesn't
-can help speed up closing process / less risk of buyer pulling out
-buyer might not bother with pool inspection
Cons:
-more money & already over budget (likely $500-1k to open/close it, $1-2k for new pump, $3-8k for new liner, etc.)
-if I do find issues I have to disclose them during sale
-might be able to find a buyer that doesn't care about condition of pool and is willing to purchase house anyway
For context I'm not sure of the exact state of the pool - it looks like it is in decent condition and the previous owner claims that they replaced the liner a couple of years ago, but it seems as if it hasn't been opened in at least a year or two and I'm not sure I can take the seller's word for granted. On the one hand I bought the home through a wholesaler bc the actual seller was an older woman who seemed to be losing her wits a little bit. On the other hand the woman is the one who told me it was replaced and she had also claimed to have put a new roof on the house, which I was able to confirm, so she has at least some credibility. I was able to peak into the pool a little bit and from what I can see the liner seems to be in good shape.
I would love to hear people's thoughts on what I should do and if anyone has had any experience with this themselves. Also, is there anything I haven't taken into consideration? Finally if anyone knows a good company that could help me take care of the opening and closing please lmk. The house is north of Boston in Chelmsford.
Most Popular Reply
@Ryan Butler, since the pool is one of the reasons you’re hoping to get the higher end of the comps, I would want to know what I’m actually selling before the buyer does.
From working with buyers and sellers, I’ve seen unknown issues become much harder once the property is already under contract. If the buyer opens the pool during inspection and finds a bad pump, liner issue, or something more expensive, now you are dealing with it on their timeline and usually during negotiations.
If it were mine, I would probably have a pool company open it and give me a basic condition report and repair estimate before listing. That does not mean you have to fix everything. It just means you know what you are dealing with and can decide whether to repair it, price around it, or disclose it clearly.
Since the pool is part of the value you are trying to sell, I think the cost of finding out now may be worth more than the surprise later. I would also keep the liability side separate from the inspection side. You can still keep it secured during showings and only open it when needed.
Since you’re in Massachusetts, I would also check with your local agent or attorney about what you need to disclose once you know the condition.