We are looking for a good realtor to sell our home. Would prefer your best agent. Home is very well maintained, we've been prepping for sale for a while. Our foundation is perfect (with engineers report) but we do have a low percentage of pyrrhotite in the core samples. The Realtor we have been planning to use told me today we'd have to sell the house essentially for cash and at 50 cents to the dollar and I want another opinion. Our plan is to move South as I am retiring but if we do need to take a bath on the house we'll stay in CT.
The above is a website request that we received prior to listing this home for sale. This home sold in 21 days for $475,000, just $5,000 off the listing price. A year prior, the homeowner had a visual inspection by an engineer who assigned it a severity class #1 with 2 horizontal cracks noted as suspicious in the report. The seller subsequently had core samples done which confirmed the presence of pyrrhotite. As required, the seller completed all of the required disclosures and supplied the reports for both the visual inspection and petrographic analysis. The buyer signed the required disclosures acknowledging the condition of the property and the foundation and the sale proceeded without further ado.
The buyer was represented by an experienced agent from the Newington CT area so I don’t have first-hand knowledge of their motivations in purchasing this home, their opinion about condition or the impact on a future sale. What I do know is that this home was otherwise pristine— built in 1998, meticulously maintained, has two outbuildings and many other amenities and sits on 8 acres. 
We are frequently asked by sellers, “What can I sell for with a crumbling basement?” In a previous post, I referenced that a 30% reduction of full market value seemed to be the most accurate guess given the data at hand. But as evidenced by the sale mentioned here, an educated guess is the best we can do.
Buyers and Crumbling Foundations
Sellers and Crumbling Foundations
Resources:
Capitol Region Council of Governments (CRCOG)
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