How Do I Sell My House With Foundation Problems?
You’re planning on selling your house, right? But you have some foundation problems to deal with. So how can you sell the house anyway?
The first thing you need to do is be honest with the interested seller. You also want to make sure that the issue has been addressed in writing or it may become a problem, explains foundation repair contractors in Indianapolis aptly named Indianapolis Foundation Repair Experts.
Keep reading to know more about how you can sell a house with foundation issues. It’s important to be a good seller and get a good deal. But it’s up to you as to whether or not you can get the foundation fixed (and we’ll talk more about that).
Can you really sell a house with foundation problems?
The good news is that you can. Especially when you want to get the house off your hands as quickly as possible.
Selling a house that has foundation problems may be a turn-off for most buyers. The reason for this is that they will already be spending money on the house itself.
So they probably won’t be up to the task of sinking more money into the house for the sake of repairs. But don’t let that discourage you.
There are those who can buy your house and hand you cash in hand. Most of them are legitimate, but you still have to watch out for those who are considered ‘scammers’.
Honesty is the best policy
If your house has foundation issues, you have to be honest with the buyer. If you don’t disclose the issue and you sell the house as-is, that’s going to be a disaster for you in so many ways.
You’ll be hit with a lawsuit. And that’s something you don’t want to face.
Keep in mind that after the buyer gets the house, they’re going to have a home inspector check everything out. So you better be honest about the foundation issues or they will find out another way.
Disclose the problem in writing
One of the best ways to disclose and confirm the problem is by doing it in writing. This is a good opportunity for you to be upfront and transparent. If you do this, the buyer will place their trust in you.
No buyer wants to purchase a home from someone they cannot trust. Also, be specific about the problems regarding the foundation.
This way, when the time comes to get it replaced, the buyer has the specific details that they’ll relay to the contractor. If you know what caused the damage, let the buyers know.
Make sure that after the repairs are made, they should still inspect it on a regular basis for damage or signs of wear and tear.
Have it inspected before you sell
You want to get the best deal out of selling your house, right? The best way to do that is to get the house inspected yourself before the sale.
That’s because a home inspector has a trained eye to spot problems both inside and outside of your house. After the inspection, they will give you a report on what needs to be fixed.
If the foundation is damaged, it’s a serious issue that needs to be addressed as soon as possible. So now you have options.
Get it repaired before the sale
If you’re not trying to sell the house quickly, you can consider the idea of getting the foundation repaired. Sure, it’s going to cost you a pretty penny.
But it’s a lot better to put some money into the house you’re selling and get a return than never at all. Plus, if you don’t get around to getting the foundation repaired, then things will get harder with the selling process.
And yes, you’re going to invite in many more issues that will need to be repaired. And that’s more money coming out of your pocket.
What happens if you don’t fix the foundation?
A lot of things are going to happen. Plumbing issues, uneven floors, poor structural integrity, and so on.
This will make things look like a complete mess. No one won’t be able to buy the house you’re selling because it has so many issues.
You can't get the foundation repaired by yourself, so you may want to hire a contractor to do it for you. You’re looking at repairs costing $2000 to $7000.
But you may have cracks that can be fixed for about $1000 or less. Or you may have substantial damage that will cost you $10000 or more.
One Last Thing
You can sell your house with foundation problems. But it might be done in only the direst of situations.
All you need to do is find a buyer that is willing to fix it up after they snag it. What they’ll do after the repair is all up to them.
They can live in the house, rent it out, or flip it for a nice tidy profit. Otherwise, get the foundation fixed if you are in no rush to sell your house.