in ground swimming pool all torn up

[Debra]

I'm working on a conventional refinance. The in ground swimming pool is all torn up to the point where concrete is in pieces and grass is growing on it. Some of the mess is so tall that it's about 5 feet above the ground and some the "pool" has almost nothing to where it's almost as deep as it was originally but has a few feet of broken concrete and dirt?grass(hope this makes sense). They do have a wood fence but none of it is covered and I don't think that it could be. I'm thinking the "swimming pool" comments should be something like this:

Subject-to repairs: "An empty swimming pool can pose a health and safety risk.....non functioning pools (and related equipment).....must be repaired.....or removed and the surrounding land re-graded-Please see attached photographs."

What say ye?.....is this the correct way to handle this? and on the 1004 page one, do I check yes on the next to last question about "are there physical deficiencies....."?

If I need to put a cost to cure in the report-where would I get that from?

Thanks for answers!

 

[Michigan CG]

Sounds like the cost to cure would be far more than the contributory value of the pool if it were fixed. With broken concrete and weeds etc growing up it is most likely that the plumbing is also in shambles.

The COST of an inground pool is typically $25,000-$40,000 although one can spend much more. Fixing the concrete, and possibly the plumbing is going to run thousands and then a new liner is going to be another $3,000-$3,500 (I know, just replaced mine last year).

The cost to fill in the pool and grade it would be about $5,000 (I know because I did the research for another house last year).

 

[Mike Kennedy]

suggest utilizing 5 year MLS sales, active and contract listing search plus a Google aerial map of the neighborhood (count the ig pools vs # competitive properties) to determine whether to replace/repair or fill in the pool prior to forming any conclusion. Let the market speak to you.

 

[ramrcdk]

Sounds like the cost to cure would be far more than the contributory value of the pool if it were fixed. With broken concrete and weeds etc growing up it is most likely that the plumbing is also in shambles.
The COST of an inground pool is typically $25,000-$40,000 although one can spend much more. Fixing the concrete, and possibly the plumbing is going to run thousands and then a new liner is going to be another $3,000-$3,500 (I know, just replaced mine last year).
The cost to fill in the pool and grade it would be about $5,000 (I know because I did the research for another house last year).

I had the very same situation and the end result was "contingent upon removal of the pool" and cost was based upon dirt fill, bulldozer, grass seed, straw, and labor & equipment costs. 20 x 40 pool= $5500. Also the city would not allow the pool to be filled due to condition, so you could check with your area city "regs". Also the fence was in disrepair and became an "insurance issue". Good luck in your market search for "any" similar deferred condition pool sales. Highest & Best use due to cost is what ___? Also in my area with same house/pool situation, the house would NOT sell, remain on the market for extended DOM and finally sell at well below median market prices...on account of "the pool total life remaining= 0" Your may need to check with your Client for any additional comments that would be required...upfront.

 

[Pilgrum]

No longer a pool. It is now a hole in the ground filled with rubble. Call to have it filled in.

 

[J Grant]

What about not crediting the pool with any value (as it almost certainly has none). Explain that the repairs might be so costly as to rival putting in a new pool , and the current state of dis repair the pool has no market value to the typically motivated buyer. Use all non pool comps or make a neg adjustment for comps with working pools.

If they have a fence around it, I don't see why it is a safety issue.

AS a pool is not necessary for functional living nor part of main dwelling, I also do not see why this report should be made subject to repairing pool.

An "as is" report, a home with a pool so in disrepair that the pool is non functional and therefore no adjustment was made for contributory value of pool (assuming this is the case)

 

[Scott R Marshall]

I agree with the general concensus. At some point, the improvement becomes so deteriorated that it is more economically feasible to tear down/fill up then repair. Based on what you are describing, your pool falls into the "fill in" scenario.

Of course, you can always go the "repair" route but based on what you describe, I cannot see how you can reasonably determine a cost to cure without plumbing inspections, structural inspections of the pool, site inspections, etc and bids to repair.

Good luck!!!

 

[hastalavista]

The cost to fill in the pool and grade it would be about $5,000 (I know because I did the research for another house last year).

That's market and topography/site-access dependent.
In my markets, the cost is $5,000 to $15,000 (or more.... a lot of it depends on how accessible the pool area is from the street).

There are companies that specialize in this type of work, but many concrete contractors can also bid the job.

Debra: the proper way to remove a pool is not just to fill it in; drainage holes need to be drilled through the gunite shell, and about 2-3 feet of the top concrete/perimeter should be removed, and then the entire area should be filled in with whatever topsoil is consistent with the site. From there, one can install a lawn or hardscape with a patio, etc.

 

[Debra]

Thanks for your replies! This has been on hold all this time and now they want it completed SUBJECT-TO tomorrow. lol. It also happens to be the house where the home owner's dog bit me and I had to call rabies control and have the dog picked up for 10 days because it hadn't had shots. Last I heard, it's 10 days are up and it's available to go home today.....

 

[J Grant]

Throw the dog in the pool pit and problem solved!