Homes with structural problems are probably a homeowner’s worst nightmare. If left untreated, it could lower the value of the home. So if you notice signs of foundation issues around your home, you probably need to have an inspection done.
Structural warning signs can include:
- Hard to open/close windows
- Ceiling cracks
- Wall cracks
- Bowed walls
- Leaning walls
- Water seepage
- Mold growth
If you are financing the sale yourself, you can sell your home for a reduced price rather than repair the foundation. Loaning institutions will not close a loan without repairs being completed. However, some states require a seller to disclose structural and foundation damage in the home.
So if you are selling a home with foundation problems, consult your real estate agent to see how the disclosure process works. Trying to conceal these problems are fraudulent and it will not fool trained home inspectors.
TIPS FOR BUYING OR SELLING A HOME WITH FOUNDATION PROBLEMS IN TN
Here’s some advice when buying a home. Foundation repair in Nashville & Murfreesboro:
- Never use a home inspector referred by your realtor. They work together to see the transaction completed.
- Before purchasing the home, do not ask the seller to repair the problem. The seller may choose the cheaper route.
- Never buy a home that has been revamped or remodeled without written disclosures. They may try to conceal wall cracks and other structural problems.
- Check to see if the walls and floors are even by using a level.
- Look for cracks in the structure. It is normal for older homes to have cracks. If you notice cracks in a newer home, these cracks may widen due to settlement.
- Be wary of structural repair work that has been recently completed. Get details about the repairs and any warranty information.
Selling a Home with Foundation Issues
- While sellers are not obligated to fix foundation issues, make sure buyers are aware of foundation problems.
Keep copies of all documents related to inspections and details of foundation repairs. The buyer will need these documents in the mortgage process and lend money to the buyer.
- If you decide to repair foundation problems, hire a licensed and certified contractor. Make sure they use the latest foundation repair products, such as steel push piers and helical piers, to stabilize the foundation back to normal.
- Get a structural engineer’s report. A letter from the structural engineer stating the home is structurally sound will calm the fears of future buyers.
If you need more information about buying or selling a home in Middle Tennessee, contact Ground Up Foundation Repair today. We offer estimates for repairs which can be used during the price negotiations.