Overcoming the Noisy, the Dirty And the Just Plain Eerie

W hile I was hosting a radio show recently, a call came in about whether to buy a house that was in foreclosure.

The house was big and undervalued, the caller said. He really liked it and its acres of grounds. However, as he walked out of the back yard and into the forest that surrounded the home, he stumbled on a grave.

The grave was for "Mother Mary," he said, and was dated 1901. After exploring further, he came across other grave markers. It turned out that the land on which the house was built originally belonged to a nearby church. This was a small graveyard for parishioners.

The caller wanted to know if I thought he should buy the house. Or, would the idea of having a cemetery in your back yard scare away prospective buyers?

I asked him how he felt walking out the back door of the house and into a cemetery. He said that it was a little eerie when he first walked among the graves, but that he got used to it. His seven children think that it's neat and might work well for Halloween.

The problems with this house made me think about other kinds of serious issues sellers deal with every day. Having a nearby dump, dry cleaner or gas station is tough. I once heard from a seller who lived next door to railroad tracks. When the train rumbled by, the whole building rattled.

Most houses have some problems. But when you have a house with a big issue -- such as a cemetery in the back yard -- it can hinder your ability to sell your property, particularly in a tough housing market.

Of course, the time to think about how tough it will be to sell a house is before you buy it. Here are some ways to frame the issue:

· Can the defect be fixed, reversed, resolved or reinvented? When you list your house for sale, your job is to overcome any potential objection a buyer might have. Whether you have an oil tank buried in your yard, your deck needs to be replaced or your grass has bald spots, buyers will use these problems to take a pass on making an offer. But if the problem can be corrected, you may be able to buy the property on the cheap and profit later.

· Can you live with the defect? You may not like a four-lane highway in front of your house or the cemetery in the back, but if you can live with it, you may be able to make your house dollars go a lot further. Your property may not appreciate as much over the years, but you may be able to afford an otherwise out-of-reach neighborhood in the school district of your choice.

· Can you buy the property at a price that will compensate for the defect? If you can purchase the property at a price that accounts for the defect, you may be able to live in a much nicer community at a price you can afford. But you may have to live with a lower sales price later on.

· Are there other redeeming qualities about the property? Is the house in a great neighborhood, with a good school system? Does it come with a big parcel of land? Is the house beautiful and filled with amenities? All of these qualities will come into play when it comes time for you to list the house for sale. If you can sell the property on its merits and aren't picky about the price, you should be able to find a buyer down the line.