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Transcript
Pinhole leaks and the sell-ability of your house, attention homeowners. If you know what I'm talking
about, then you need to watch this video.
[inaudible]
if you live in the town of Plainview, Old-
Bethpage and or the surrounding communities, we've been
inundated the last couple of years with
the copper tubing becoming problematic in that first study to
develop these little tiny pinhole leaks
and causing homeowners a lot of unnecessary expenses with
repairing walls, with sheet rock and
fixing the plumbing. And most of the time the plumbers come in and
instead of replacing it with
copper, they're replacing it with something called Pex, which is a plastic, uh,
piping that does not
corrode. The reason why this is happening is up to debate. If you live in the towns,
you know what
I'm talking about. Some people believe it's because the houses are at least 50 years old
or more and
copper tubing is not made to last that long. And others believe it's a problem with the
water from the
water district and the town has, or the water district has hired professionals to come in
and do some
research and some people believe for the most part that that's helping.
But I will tell you, being a
homeowner in the town of Oyster Bay, um, I just had a leak about the last
three months, maybe about
four to $500 to repair it. And that's with me doing the sheet rock myself.
So
the problem still exists
So if you're trying to sell your house and you're having this problem, what can
you do? Well, number
one, if you have a leaky pipe, you have to repair it. If somebody's coming to buy
your house and
they're using a mortgage with which most buyers do, it's never going to pass the
appraisal process.
They're going to see leaky water or leaky pipes. They're going to see possible other
damage that can
be caused from this. And it's going to be a red flag right there and it's going to be half
through the
repair. If you're selling to an investor, then there is no criteria, they'll buy the house as is.
If that's in
your contract, a cash deal, no banks involved, you can move on and sell it. But in that case we
usually sign it at a discounted rate. So can you sell a house with pinhole leaks after you repair them?
Of
course you can. Uh, when people come in to buy these properties, they have to realize they're
buying a
used status and not buying something brand new. So when they buy a house, there are other
possible
preexisting conditions that could be problematic as well. So you as a seller can do
something, what we
call it, pre home inspection. You can get a home back to the, come into the
house and look in all the
areas where their border might be leaking. Understanding that home
inspectors will not remove
sheetrock to look behind something. But if they see a sign of water
damage on the ceiling or on the side,
they'll red flag it and say there's a problem there.
And then you
can hire a plumber bringing in and fix the problem before it is a reason why you possibly
lost the
buyer that wanted to buy the house. And as a buyer, what you can do is definitely always get a
home
inspection. And if you see an area that's problematic, you can talk to your attorney about possibly
putting some money in escrow where it's held by the attorneys. And then when you take ownership
of the house or if you want to work it out before that with your attorneys, you could possibly have
them a
check a little further into a problem where there might be a leak and get it repaired or leave
money on
the side, or reduce the amount of your purchasing dollar amount by whatever it would cost
to possibly
fix that. So again, pinhole leaks and selling your house. It can be done, but it is a sign of
the times.
If you have any other questions or comments, please leave them below. And if you like
this video, please
give me a thumbs up. And this is Mark Schreier from century 21 American homes.
And thanks for
watching. Hello? Yes, I'm talking to you, the person that watched my video to the
very end. Thanks a lot
for watching. If you enjoyed it, please give me a big thumbs up. Subscribe to
my youtube channel like
me on Facebook. I am a licensed real estate agent in New York State, but I
also have a referral service
that deals nationwide. So if you're looking for to buy or sell a house
anywhere in the United States,
please send me a text, contact me via phone, and I'll set you up with a
local professional in your area. If
you're in my vicinity, I'd be more than happy to help you out in any
of your real estate transactions that
you'd like. This is Mark Schreier from Century 21 American
homes, and I'll talk to you soon.
