Selling a House with Foundation Issues In California

A home with foundation issues could lose up to 15% of its worth. To lessen this impact, consider hiring a skilled inspector or engineer to check it out. Fixing it may not be as costly as you think.

You gotta get your foundation checked to see how bad it is and figure out if you’ll repair it or sell the house as is. It may take a while before you can sell your house with foundation problems.

Depending on what it says on the inspection report, you may need to do some urgent repairs in order to avoid further foundation damage. Additionally, timely foundation repairs can prevent your home’s value from plummeting.

Before selling a house with foundation problems, consider fixing them first. This could attract more buyers and let you ask for a higher price.

If money is tight, there are companies that offer payment plans and fixed credit to help cover the costs.

Plus, fixing the foundation with a trusted company usually includes a warranty for peace of mind.

While you’re at it, address any cosmetic issues like landscaping or repainting. This will make your house more attractive whether you use real estate agents or sell it yourself.

Fixing these issues also helps potential buyers since many banks won’t approve mortgages for homes with foundation problems, limiting your buyer options to cash buyers.

If you discover significant foundation problems, like wide cracks causing walls to bow severely, you have the option to sell your house as-is. This allows the buyer to tear it down and construct a new one on the land.

If the foundation assessment reveals only minor cracks that can be fixed at a reasonable cost, you may want to prioritize repairing them before putting the property on the market.

You can request your home inspector to tell you the total scope and how much it would cost to address your home’s foundation problems.

In the end, it boils down to the price you’re willing to accept. Are you willing to do the big fixes yourself to sell the house for more money? Or would you rather settle for a lower price and skip the hassle of repairs and renovations altogether?

Your decision can also depend on whether it is a buyer’s or seller’s market. Consult a nearby real estate agent to gauge the market. In a seller’s market, with low inventory, selling a house with foundation issues may be simpler than expected.

To avoid agent fees, consider contacting cash house buying companies for multiple cash offers from investors.

In real estate, integrity is important. So, it’s smart to tell potential buyers about any problems with your home, like issues with the foundation.

Even if you fixed the foundation before putting your home up for sale and made sure there are no visible signs of problems inside or outside, you still need to give the buyer paperwork showing the repairs. Disclosure of any flaws, weak spots, and hidden dangers, past or present, is mandatory in most states.

While past foundation issues can be a deal breaker for some, you’ll be certain to find a buyer sooner or later.

For your protection, it is advisable to get a buyer’s acknowledgment, in written form, that you have disclosed any and all issues concerning your house.

When looking for a contractor who can do the necessary repair work, it is not advisable to get a single quote from a foundation repair company. Shop around to get the best price and the best contractor for the job.

If you decide to sell your house as-is even after obtaining repair quotes, you can pass them on to the cash buyer so they can decide if they’re going to repair foundation issues themselves or pass on the sale.

If the foundation damage is too extensive, potential buyers may have difficulty getting their loans approved. A cash investor is your best bet in getting your distressed property sold.