Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on TwitterFollow AgentsOnline on Facebook

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityCelebrating 13 years as one of the internet's most popular Real Estate Communities!

Good Ideas
Nusetlock.com




REO Prep Foreclosure Listings




BPO REO Secret System




How To Advertise Here

More Good Ideas!
real estate newsletters


Real Estate Websites for Realtors




Build your brand on a Real Estate Site





Facebook
Topic Options
Rate This Topic
#30147 - 06/13/05 01:47 PM How much of a loss in value
Anonymous
Unregistered


My house was totalled by fire, but the slab remains intact. The house was torn down and I'm now in the process of selling the lot with the slab on it. It is my understanding that the fire will have to be disclosed in any future sale. Can anyone offer me insight into how the fire will affect the future value of a home built on the slab? I've a couple of potential buyers concerned about this issue.

Top
#30148 - 06/13/05 02:32 PM Re: How much of a loss in value
altarealtor Offline
Member

Registered: 01/09/05
Posts: 390
Any prospective buyer should have an engineering evaluation performed. They may ask you to share or cover the costs considering the history.

Top
#30149 - 06/13/05 02:52 PM Re: How much of a loss in value
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
How much would it cost to remove the slab and just sell the lot???

Lots of plumbing lines come up through a slab and the structural integrity of the concrete could have been compromised.

If the slab is gone you're just selling a lot; fire becomes immaterial unless someone asks why there's no house there and you just say it burned.
_________________________
Jim Lee, REALTORŪ, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

Top
#30150 - 06/13/05 03:17 PM Re: How much of a loss in value
Ben34105 Offline
Ubiquitous Mod
Major Contributor

Registered: 02/25/05
Posts: 2232
Loc: Florida
Unless the new house is the exact same floor plan as the existing house, the slab will be useless. There are thickened footers in the slab designed to be under interior load bearing walls. The new house would have to have the slab cut out in areas and new footers poured based on the new load bearing walls. By the time you add selective demo cost to move footers and pipes and pouring concrete back, it's not worth it. Plus if the fire was hot enough it will cause the concrete to spall and lose it's strength. An engineer would have to take core samples and have them tested to see if the slab was structurally sound. Your best bet is to tear the slab out. Just some advice from a former project manager.

Top
#30151 - 06/13/05 03:43 PM Re: How much of a loss in value
Anonymous
Unregistered


One of the potential buyers for sure wants to build the same floor plan. The house is in a subdivision and the contractor indicated the slab "seemed" fine to him. I will still look into getting an engineer to check it out. Thanks for all the advice!

Top
#30152 - 06/14/05 02:07 PM Re: How much of a loss in value
Realty Check Offline
Major Contributor

Registered: 09/19/03
Posts: 2410
Loc: Panama City FL
You will normally be prevented from using the existing slab because of the issues JimLee indicated... plumbing and integrity of the slab after being exposed to the heat.

I just sold a lot where a house burned down, due to a space heater, just after the 1st of the year. For value we had the slab removed and the insurance company paid for it. It did take several months fighting but it did take place and was sold last month at market value with no disclosures necessary other than a previous house was at one time on the property.

Top






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Good Ideas!
real estate newsletters




How To Advertise Here

Sponsors

Newest Members
CourtneyFields19, theshortsaledude, toorgeman123, D best Realtor, Nilufar Yeasmin
21439 Registered Users
Who's Online
1 registered (barb43), 167 Guests and 1 Spider online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Vermont 80
KingofBPOs 55
Brit16 51
DueDiligence 37
Bigtoe 36
super realtor 34
Averis 34
johnnyloans 34
Kjmendy 33
SoldWithVideo 32
RIzwan 29
shurdul 28
Scintillion 25
Doin' bpose 25
75Corvette 25
(Views)Popular Topics
No new orders today 4754646
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 2704370
Stupid MLS comments. 958504
EML 458010
Evalonline 299689
What do you know about Froy Candelario, top agent in USA 290856
Land America 285007
New HUD Listing Brokers---Any Update? 269458
Mainstreet 261768
Pay it Forward - BPO/REO Tips & Tricks I & II 239271
Stupid QC comments and BPO requirements. 230272
Is there religious content in Buffini class? 225738
FARVV 177251
REOTRANS 160724
USRES / RES.NET 147658
Let's talk about our cars 147482
asset val seminar in colorado 144092
AVM Bpos 139643
FARVV 126764
PAS 118332
Featured Member
Registered: 03/04/07
Posts: 1801

How To Advertise Here


This site presented by RNC Internet Services