Here’s another article regarding concrete foundation repair and real estate issues. Thanks to Damion Rutherford of e-foundation repair.
Foundation cracks and settlement problems are viewed as serious defect to a home. Most homeowners realize this and simply will not purchase a home unless proper repairs are made.
In addition, many lending venues (FHA,VA,Conventional) simply will not lend on a home with these defects.
“It’s just a little crack. No big deal”. If only this were the case.
Many realtors struggle with this issue when trying to move a house off the market. The buyer will not buy unless it’s fixed (if they’ll buy at all), the seller doesn’t want to invest the money to correct the problem, and the realtor is stuck in the middle.
Sometimes, a homeowner will try to patch and cover up the problem to avoid losing value in the home. Depending on the extent of the damage, this sometimes does work.
When the problem does become worse, the situation turns into a nightmare. Now, the home inspector, the realtor, the buyer, the seller, the lawyers, all have to come to an agreement.
This nightmare normally turns into a lot of finger pointing, but does nothing to help the buyer or seller.If you are looking to sell your home, I would HIGHLY recommend a foundation repair specialist examine any cracks or settlement problems you have noticed.
This way, you’ll have a written estimate to either A) correct the problem and restore the asking value of your home,or B) provide to the buyer so they can have the amount deducted from the asking price.
technorati tags:concrete, Foundation, Repair