How Can You Sell a House with Foundation Issues?
Selling a home with foundation issues can be a difficult process even if the rest of the house is already in top shape. Unfortunately, many homeowners find that their property has foundation issues when it’s time to sell.
Don’t worry – the good news is that selling a house with major repairs like foundation issues is possible. In this article we’re going to over everything you need to know to sell a house with foundation issues with the least amount of headache and hassle, including:
What causes foundation issues
How to determine if you have foundation issues
How much it costs to sell a house with major repairs like foundation problems
The best way to sell your home quickly, with cash in hand
First, let’s cover the basics…
What Causes Foundation Issues on a House?
There are a number of different types of foundations—ranging from masonry to concrete to wood. But no matter the type, they all face similar stressors.
According to Bob Brown, author of "Leveling With Bob" and "Which Way Is My Foundation Moving?," there are three main reasons for foundation issues:
Deterioration of stem walls: A stem wall sits on top of your concrete slab and acts as the base structure to which other walls and floors of the house are attached.
Foundation settlement: Settlement is how the foundation is affected by time and/or weather, causing the soil underneath the foundation to shrink.
Foundation heave: This is when the soil under the foundation surges up over time (which can happen to compensate as other areas settle).
One thing to note: Your home's age shouldn't be the chief factor in determining potential problems. So don't assume you're in the clear if your house is new, or doomed to encounter problems if your home is old. Foundation problems can plague any home.
Signs of foundation problems
The effort to determine the exact source can be complicated, but you should start by looking for visible cues. Without an expert, there are a number of telltale signs you can see:
Cracks on walls, floors, columns, and window and door openings
Doors or windows that stick when you try to open or close them
Bowing basement walls, where pressure from outside the walls has caused them to bend inward
Sagging crawl space floors
Sinking front porches and stoops
Overall water intrusion or damage
How to fix foundation problems
If you've identified a problem with a home's foundation, you'll probably turn first to a home inspector to begin the repair process. This can be helpful, but according to Brown, you shouldn't restrict yourself to home inspectors alone.
"Home inspectors are only qualified to see the very basic signs, and have no training or skills to make more sophisticated determinations," says Brown.
A report from a local engineer (costing around $200 to $800) can be helpful in that it can provide you the structural or geotechnical (meaning soil-related) expertise the job may require.
How much does it cost to fix foundation problems?
Costs vary depending on your area and specific circumstances, but they can total around $3,500, according to national averages posted on HomeAdvisor.com. Here are some other costs based on what exactly you're trying to repair.
Fixing cracks: ranging from a few hundred dollars (e.g., $400 to $800) up to $2,000 to $3,000.
Underpinning or lifting a sinking foundation: from $1,000 to $3,000 per pier (support)—the number and type of supports will depend on the foundation type and the extent of repair required.
Major repairs: ranging from $3,500 on up to $10,000 or more, but can go as high as $20,000 to $30,000.
A brand-new foundation can cost up to $40,000.
How Do You Sell a House with Foundation Issues?
Once you’ve determined that you definitely have foundation damage and need to sell your home, it’s time to look into the options you have for a low-hassle experience.
Listing on the MLS with a Realtor
A traditional sales process would involve preparing your home, getting a real estate agent, and putting the home on the market. Of course, you’ll have to disclose there is foundation damage when you sell it.
Unfortunately, this disclosure means that many of the good buyers will stay away.
You may even have trouble getting a strong real estate agent to take the listing.
You may end up with a rookie agent and buyers who are focused on paying as little as possible.
With this, you’ll still have to cover escrow fees, agent commissions and closing costs.
There’s no reason to go through the headache just to get a low sale price and have to give some of that away to a real estate agent.
Instead, consider selling the house in ‘as-is’ condition to a Real Estate Investor.
Sell in ‘as-is’ condition to an Investor
Selling your home “as is” is your best option and SoCal Home Buyers is a great option if you want a quick, cash-focused, and efficient sale. We buy houses for cash, as-is.
This means you don’t have to clean, repair, or move anything.
Once we come to an agreement on a fair price you won’t need to worry about that foundation – it’s our concern now!
We make selling a house in need of repair, specifically with foundation issues extremely easy, and we’ll walk you through every step from beginning to end. You’ll save thousands of dollars in fees and can avoid closing costs because you won’t be paying an agent – and that money will go straight into your pocket!
The paperwork you need to fill out is simple and easy to understand, unlike the mountains of forms and disclosures required in a traditional sale.
You’ll find that you can sell your home to a professional home cash buyer like us and can close and be done in 30 days or less – no need to wait weeks hoping someone will buy your home on the MLS.
You deserve the peace of mind that comes from working with a professional home buyer.
Don’t worry about how much it is to fix those foundation issues or any other major repairs in your home.
Whether you’ve inherited a home you need to sell quickly, or you’re a landlord who wants out of a property, we’re here to help you.
We serve homeowners that need to sell houses with foundation issues in Bel Air, Forest Hill, Fallston, Abingdon, Aberdeen, Edgewood, Belcamp, Churchville, Darlington and surrounding areas of Harford County, MD. You can either fill out our online form below or give us a call at: 443-347-3556 to find out how we can help you with selling your house with foundation issues today!