u/pigalien8675309

I’m in a small older 12 unit Condo community in Indiana with a central courtyard pool. There are various sized condos with values ranging from $120,000 to $230,000. The current homeowner mix leans heavily towards non pool users (~75%) who would like to permanently close and fill the pool. They don’t feel there is a cost/benefit to maintaining a pool especially in the Midwest with a 4 month pool season and very minimal current pool usage.

From an appraiser perspective, would there generally be a significant impact to the value of each individual condo units with removing a pool?

The offset to no pool is lower assessments and/or faster reserve buildup for needed larger repairs and replacements.

As expected, the pool users feel pool closure will greatly impact value while non users say no impact to a positive impact.

I appreciate an appraiser perspective

I’m curious what the standard practice is when a buyer is under contract to buy their dream home and the area the home is in has unprecedented storms/rainfall leading to likely water in the basement.

Is there a requirement to disclose water in the basement by the seller if asked? If not, how can the buyer find out the amount of water the seller received?

Everything set to close, two weeks from closing.

Realtors are downplaying it, not a surprise

Edit: I meant to say Seller’s basement got water, we don’t know how much.