Swimming Pools and Home Loans

Swimming Pools and Home Loans

Swimming pools and home loans- It’s important to know how lenders or the FHA treats a non-functioning pool.

Swimming Pools and Home Loans

Selling a Home 

Pool Debris 2If your buyer is a first time buyer and utilizing an FHA loan, it’s important to know how the FHA treats a neglected or barely functioning swimming pool.

We’ve seen them. The cement ponds with a lovely shade of green due to non-functioning or removed equipment, or empty and filled with leaves and debris. If a pool is not properly functioning, it cannot be considered when determining appraised value. The same holds true with many lenders.

For buyers, this is valuable as it keep them from overpaying. For sellers, it can drastically decrease the amount of of money you can sell your home for.

The Baid-Aid Solution

For empty or non-functioning pools, the FHA, loan companies and local ordinances require that the pool be secured by a cover that is sturdy enough to prevent a person from falling into the pool (the FHA and most lenders no longer require the pool to be filled-in). But that is a band-aid that doesn’t help raise the appraised value of the home.

A Better Solution

Replace the old or broken equipment, clean the pool, and have it re-inspected. It’s a small investment that has greater returns.

Many of our customers call us after their home is on the market and had their home inspection when it may be too late.  Plus, you can enjoy your investment today before the new home owner!  We have a full range of options from all the major manufacturers to meet your repair and installation needs, Hayward, Jandy, Pentair, AquaCal and Autopoilot.

PrintContact Crystal Clear Aquatics Pool and Spa Services for a free quote today for all your pool repair and equipment installation needs at (561) 318-6750  or info@ccapoolservices.com