If you’re in the process of buying or selling a home, foundation problems may seem like a nonstarter. But with the right knowledge, you can come to an agreement that suits both parties without excessive stress or financial outlays.
Will Foundation Problems Derail a Sale?
If you’re the seller, you are obligated to alert a buyer to any problems with your structure or foundation. While these two issues may scare off some prospective buyers, they’re not always disasters. To quickly assess the situation, take the following actions:
- Look for cracks in the walls and foundation, both inside and outside.
- Note whether cracks appear to be cosmetic only.
- Look for any signs of water damage, along with doors and windows that stick or won’t open and close.
- Consult with a home inspector and your real estate agent.
- Request a free estimate from an experienced foundation repair provider.
By taking care of any needed repairs before you sell, you increase the chances that your buyer’s loan will be approved and that you can complete the deal. Some foundation repair companies may agree to defer payment until closing.
Is it Risky to Buy a Home in Need of Foundation Repair?
While foundation problems require attention, they shouldn’t necessarily change your decision to purchase a home. If a house otherwise works for you, delve into the severity of the foundation issue along with the available options for repairs. You may even get the home at a discount that more than covers the costs. An experienced, trustworthy foundation repair company can fix structural problems and provide you with warranty options to take care of any future issues.
As homes age, they often settle due to weather changes and variations in construction materials. Routine settling may manifest as minor cracks or other cosmetic issues that can be fixed easily and at a relatively low cost.
Some signs of damage may indicate a more serious problem, however. Bulging walls, growing cracks, evidence of rot or erosion, uneven floors, and doors and windows that don’t close properly can signal damage to the underlying structure. If you’re considering purchasing a home, make sure you get a report from a home inspector, and consult with a structural engineer if warranted.
By asking the right questions and getting an estimate from a well-known foundation repair company, you can work with your real estate agent to determine whether buying a home is the right choice for you. For a free consultation, please contact Edens Structural Solutions, or call (918) 366-3001.