Posted by Bud Branstetter on February 08, 2001 at 24:38:55:
I’ve seen houses that the owner had estimates of 10-15K to fix the foundation. It took less than 5K. The engineers report detailed what was needed to fix it.
If the house is livable and not going to cause additional damage then I would reduce the lease a little bit and wait until the refi to fix it. Divulge everything that you are sure of. The actaul cost to fix is not a given. Foundation people are in the business to sell piers. A 203K loan can be used or even the money held in escrow to pay the foundation company from the ultimate refi/purchase.