When it comes to a homeowner's most dreaded ordeal, "foundation problems" are right at the top of the list, especially if you're contemplating selling your home. Whether it's sagging eaves, cracks in the walls, or a damp basement, foundation issues can be both financially draining and a major deterrent for potential homebuyers.
Foundation problems are surprisingly common and can occur in a variety of climates. Homes built in hot, arid regions and areas with expansive clay soils are particularly prone to foundation damage. Continue reading to discover how you can successfully sell a house with foundation issues.
How Can I Determine If My Home Has Foundation Problems?
Foundation damage frequently arises due to soil settling, contracting, or expanding in response to temperature fluctuations, water levels, and weather variations. But how can you identify whether your home is experiencing foundation issues?
Start with a visual check of your home’s exterior. Stand at a corner and look down the walls. Are they straight, both up and down and from side to side? Run a level along the walls to detect any bulges or leans. You should also look for:
Cracks or gaps in the walls, concrete, bricks or masonry.
Chipping slabs.
Walls pulling away from the home.
Warped siding
Hairline cracks — those less than 1/4-inch — aren’t usually a major cause for concern. However, don’t discredit them completely. Keep an eye on them for any changes and consider filling them to avoid water damage. Look for large, horizontal or l-shaped cracks, as these may signal a problem.
Now, it's time to inspect the interior of your home. During this examination, be on the lookout for noticeable indicators of structural damage, including:
Misaligned windows and doors.
Windows that won’t shut or have cracks in the glass.
Sloping floors.
Cracks in drywall.
Gaps between the wall and the ceiling.
Cracks in vinyl or ceramic tile.
Uneven wood floor planking.
Water in the basement or crawl space.
Is it Necessary to Repair the Foundation Before Selling My Home?
If you encounter one or more issues, it might be advisable to arrange for a professional foundation inspection. Should the inspection reveal that your foundation has indeed been compromised, you can opt to repair it before selling, although it's not always a mandatory step.
The average cost of foundation repair is far from inexpensive. Typically, homeowners can expect to spend between $2,143 and $7,493 for addressing foundation problems. However, for more extensive repairs, which may necessitate hydraulic piers, the expenses can surpass $10,000 or even more. On the other hand, repairing a minor crack may be relatively affordable, with costs averaging around $500.
The cost of foundation repair is often anything but cheap. On average, homeowners should anticipate spending anywhere from $2,143 to $7,493 when dealing with foundation issues. Nevertheless, for more extensive repairs that require hydraulic piers, expenses can escalate to over $10,000 or even higher.
Is It Possible to Sell My Home Even with Foundation Problems?
Facing Foundation Damage Diagnosis: Concerns About Selling Your Home and Profits
Important Consideration: How Foundation Damage Can Affect Mortgage Approval and Buyer Interest.
The Big Dilemma: To Repair or Sell As-Is - A Detailed Review of Your Options.
Option 1: Addressing Foundation Problems
Start by Evaluating the Extent of Damage: Signs Your Foundation May Need Extensive Repairs
Consulting a Structural Engineer: Getting an Expert Assessment and Cost Estimate for Repairs. It's Worth It!
But for many homeowners, the average cost of foundation repair — not to mention the time and stress involved — is simply too high. If the damage is extensive, the repairs can cause thousands of dollars that you might not have.
Consider the Time Factor: The Lengthy Process of Foundation Repairs and the Urgency to Sell
Option 2: Selling Your Home As-Is – Is This the Right Path for You?
When Repairs Aren't Feasible: The Impact on Your Home's Value and the Need to Adjust Your Asking Price.
Time and Cost Savings: Allowing the Buyer to Address Foundation Issues. Honesty is Key in Disclosure.
The inspector will find it during the home inspection and most buyers won’t appreciate the deception if you didn’t disclose the problem right away. Additionally, once an inspection reveals that you have foundation problems, there’s a chance your buyer’s lender could cancel the loan, and the sale can fall through.
Rather than trying to sell on the market, you can work with a professional home buyer. These companies will buy your home as-is, regardless of foundational problems
A professional home buyer is responsible for all repairs and renovations and will factor those costs into their offer. You won’t have to worry about paying for repairs to your foundation if you choose to work with a professional home buyer, and they won’t suddenly drop out of the deal before closing.
Select Creative Housing Duo as Your Trusted Professional Home Buyer
Regardless of the state of your home, HomeGo is here to make an offer, freeing you from the responsibility of repairs and upgrades. Even if you have foundation damage, we’ll buy your home as-is and make the necessary repairs once you’ve closed the deal.
If you’d rather save money on repairs and move to a new home, Creative Housing Duo can take the burden off your shoulders.
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