I was out showing houses quite a number of years ago, and we were in a nice property on the edge of a wetland. In the family room, there was a fairly significant settling crack in the sheetrock along an exterior wall by the fireplace. When we went down to the lower level beneath it, we found a crack stair-stepping down the concrete block foundation as well.
The buyers were taken aback—rather alarmed—and questioned the feasibility of marketing a property with such a flaw. I agreed that this structural defect would rule out many buyers. It’s simply too much risk for the average couple. But I pointed out that in twenty years, if they drive by, the house would still be standing. There’s a buyer for every property. It’s just that different people are open to different situations—we call them preferences.
The shadow of suspicion that had hung over the seller—hinting at possible improper conduct—slowly lifted. The truth is straightforward: You can sell what you have, but you cannot conceal a known flaw or material fact.
In fact, the market functions at its healthiest when everyone openly acknowledges the full spectrum of features—and yes, the flaws too. Buyers okay with a busier road often get compensated with a lower price, a bigger yard, or some other perk. A run-down, dilapidated home becomes a dream for the renovation enthusiast who sees potential where others see problems.
The real poison for any market isn’t the flaws themselves—it’s the presence of obstacles like poor, incomplete, or hidden information.
Home Economics 