I am working on a single family home in which the foundation repair is going to be $5,300. The seller agreed to reduce the price by $6k since he didn't know there were foundation problems. Every window and door opens and closes easily. There are no wall cracks and the floor feels level. I spoke to another investor and he said that it is difficult to find a level home in San Antonio because of the soil. He says he doesn't fix foundations in his rentals if the doors and windows work perfectly and there are no visible problems. He said there's a difference between the whole foundation settling and the foundation cracking, which I think makes sense, but don't have experience. What would you do?
Have dealt with this many many times. I think if its a rental then your probably good to go.. as long as everything is working.
And its a little know problem to those who do not live in Texas and MS.. But on the other hand if it cracks and you have issues the tenants may not be able to live there while your fixing it.. So you could lose a tenant and rental income.. If you fix it now.. And a good foundation company will give you a life time warranty then you will not have to worry about it going forward and or if it does crack or move you have the warranty .
@Jay Hinrichs Thank you for your advice! I will try to resale it in one or two years, so it makes sense to fix it and transfer that warranty to the new owners. I don't want to lose tenants and have vacancies. Thank you again, you helped me make a decision!
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