Can I Buy or Sell a Home with Foundation Problems?
Homes with foundation problems are a homeowner’s worst nightmare. Untreated structural damage can significantly lower the value of a home.
Signs of foundation failure include:
- hard to open/close windows or doors
- ceiling cracks
- wall cracks
- bowed walls
- leaning walls
- water seepage
- mold growth
If you notice any of these signs in your Middle Tennessee home, schedule an estimate with the expert foundation contractors at Ground Up Foundation Repair. One of our experienced professionals will analyze your home and offer the best foundation repair solution.
TIPS FOR BUYING OR SELLING A HOME WITH FOUNDATION PROBLEMS IN Tennessee
Buying or selling a home with foundation problems can be tricky. If you are financing the sale by yourself, you may need to sell it for a reduced price rather than repairing the foundation. Loan institutions will not close a loan without foundation repairs being completed.
However, some states require a seller to disclose structural and foundation damage in the home.
If you are selling a home with foundation issues, consult a real estate agent for guidance on how the disclosure process works. Trying to conceal foundation problems is fraudulent and it will not fool trained home inspectors.
Buying a Home with Foundation Issues
- Never use a home inspector referred by your realtor because 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.
Nashville Foundation Repair Experts
We proudly serve the Middle Tennessee area. If you need more information about buying or selling a home with foundation problems in the state of Tennessee, contact Ground Up Foundation Repair today. We offer free estimates on foundation repairs and stand behind our work with a lifetime transferable warranty.