Posted by Brent_IL on February 18, 2002 at 09:39:07:
Anything can be a good deal if you buy it cheaply enough. The foundation repair is only a cost to be added to the rest of the rehab and holding costs you will consider before making an offer.
Avoiding history of foundation problems? - Posted by BoY
Posted by BoY on February 18, 2002 at 05:25:55:
Hi,
I’m looking at a property that has a history of foundation problems, should I stay away from this? If no, what do you suggest how to handle this? This is the only thing that is holding me back from making an offer.
Re: Avoiding history of foundation problems? - Posted by MATT- OHIO
Posted by MATT- OHIO on February 18, 2002 at 09:59:44:
Depends on what "problems exist. If it is just dampness or leakage, chances are rerouting spoutings will help or waterproofing. If it is shifting, cracked buckled walls etc, then think twice. Remember if you are contemplating buying it so will your buyers. Personally if its a dampness issue I would weight the cost of repairs, if it is significant cracking, buckleing or anything like that, either get estimates on complete repair and see if its feasible or walk. Remember that any modifications to structure must be legally disclosed to potential buyers…so even if you correct the problem physically, the “scare” may still exist to some buyers that it has/had foundation problems. Hope you find this beneficial. matt