I'd like to sell my house. However, it's definitely sunk. I think the term is "settled." You can definitely feel the slope when in the house. Will it get worse? Is it worth it to repair the the foundation before putting it on the market?
I want to do the right thing and not swindle someone like my family got swindling purchasing this sunken house.
Thanks in advance.
2007-05-17 17:54:57 · 9 answers · asked by Kit Wing 1 in Home & Garden ➔ Maintenance & Repairs
All states require the seller to disclose known problems when selling a house. You can make the repairs and add the cost into your asking price, or you can let the buyer know about repairs that need to be made and let them deal with it. Most mortgage lenders will require a home inspection and certificate of occupancy. The cost of repairs may also be escrowed by the lender. You may want to contact a civil engineer and discuss what repairs need to be made, whether you do the repairs or the buyer handles the repairs. You didn't specify if the whole foundation has settled, which may require 'mud jacking' or if the house flooring has settled which can be fixed with a house jack in the basement or crawl space.
2007-05-17 21:55:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Definately repair the foundation. Many banks will not write a mortgage on a property with foundation problems that turn up at inspection. Since you know of the problem it must be disclosed to all potential buyers. And last but not least homowners insurance is next to impossible to get on a property with a cracked foundation. Being from New Orleans shifting or settled foundations is nothing new to me. Look for a liscenced foundation repair company that uses a Cable-Lock system to level your home. You will not get the value out of your home if the repairs are not made.
2007-05-17 18:14:17 · answer #2 · answered by Kathy C 1 · 0⤊ 1⤋
I would like to see the place so I could tell more. Is it the floor that is sinking or is it the walls. It can only sink so far. Cement is extremely cheap. If you could put say 1 1/2 inches of cement over all the existing floor, would that solve the problem? Mix cement in any size container and spread it level. You can get a lazer level at Home Depot and end up with level floors for a few hundred dollars. Reset the doors if you have to. This is something you can do yourself a little at a time. Don't let the inspector see it.
2016-03-19 07:45:10 · answer #3 · answered by Anonymous · 0⤊ 0⤋
A couple of things - you need to determine the CAUSE of the sinking. Plumbing leaks under a house will cause heave/drop of foundations. Foundation damage caused by plumbing leaks are a covered loss under most insurance coverage.
Trees planted to close to foundations will pull moisture out of the soil under the house, causing a drop in the foundation level as well.
You need to have the property inspected by a foundation company. Don't get me wrong - engineers are great - they'll tell you what's wrong - but your going to have to call a foundation company to fix it - so start there. It'll save you time and expense.
Look for referrals - you do NOT wanta fly by night guy to do a foundation job. They are usually NOT inexpensive - it's hard work.
Sellers disclosure is required by law - so your going to have to disclose it. If you fix it, your STILL going to have to disclose that it was fixed. In some markets, the fact will not be a detriment, if the house is priced accordingly.
Good luck!
2007-05-18 08:40:14 · answer #4 · answered by Dee 3 · 1⤊ 0⤋
If the house has sunk enough you can feel the slope in the floor you probably won't be able to sell the house the way it is. You need to look into your options on repairing it, don't accept the first price you get. Hope this helps.
2007-05-18 04:12:15 · answer #5 · answered by rshiffler2002 3 · 0⤊ 1⤋
You are talking a lot of money, but when it is fixed people will see it as a positive that the foundation was recently repaired. It won't get you more money but it will help you sale it.
2007-05-17 18:00:09 · answer #6 · answered by Peggy Pirate 6 · 0⤊ 1⤋
pay for the inspection before you sell the house -this will give you an idea of what needs repairs and it is a bonus to buyers. discuss the results with your real estate agent.
2007-05-17 18:01:13 · answer #7 · answered by KitKat 7 · 1⤊ 0⤋
If you don't repair it a home inspector will find this in his check of the house and it defiantly will put your sale in jeopardy..Fix it before you list the house, it will help you sell faster
2007-05-18 00:11:58 · answer #8 · answered by Innisfil g 3 · 0⤊ 1⤋
yeah it would raise the value of the property
if someone bought it and you didnt make that repair there is something called buyers remorse.....they will give you that house back and take their money with them
2007-05-17 17:59:57 · answer #9 · answered by Anonymous · 0⤊ 1⤋
If you can feel the slope, it is pretty bad. Costly to fix. I do not think you want to put in the dough to do the fix.
2007-05-17 19:06:17 · answer #10 · answered by ButwhatdoIno? 6 · 0⤊ 1⤋