"This is the view from the dining room. There is a notable lean, as shown in the photo. We recommended having a structural engineer inspect the foundation for more information."
"Several of the support piers in the crawl space have shifted or settled, creating gaps or "out of plumb" conditions. We recommend further review by a licensed contractor and repair as necessary."
What would you estimate this costs? Are these total dealbreakers?
There are some other things such as potential tree/plumbing problems. I know any old rental property will come back with plenty of inspection issues but curious to hear if any of these are dealbreakers for you and if so, why?
Realtor · Los Angeles, CA · Member since 2018 · 952 posts · 1k+ votes
6y
@Kyle Laffey, I’m not a contractor, but I really don’t think these are deal-breakers.
Is this your first ever real estate purchase? Inspections are scary! But most of the problems can be fixed with a few thousand dollars.
It’s a math problem: does the deal still work when you factor in the cost of repairing these problems?
Google for a foundation company in your area and have them come and give a quote before your inspection period ends. If the numbers still work, you’re still in the game!
You can also ask for a repair credit from the seller after you have a sense of how much the repairs will cost.
Realtor · Los Angeles, CA · Member since 2018 · 952 posts · 1k+ votes
6y
@Kyle Laffey, I’m not a contractor, but I really don’t think these are deal-breakers.
Is this your first ever real estate purchase? Inspections are scary! But most of the problems can be fixed with a few thousand dollars.
It’s a math problem: does the deal still work when you factor in the cost of repairing these problems?
Google for a foundation company in your area and have them come and give a quote before your inspection period ends. If the numbers still work, you’re still in the game!
You can also ask for a repair credit from the seller after you have a sense of how much the repairs will cost.
Contractor · Seattle, WA · Member since 2018 · 78 posts · 54 votes
6y
@Kyle Laffey - Hey Kyle!
I am a contractor in the Seattle area. This is caused by soil settling and is a common issue with pier and beam houses. This should not be an expensive fix and definitely not a dealbreaker. If anything I would use this as a way to get a steep enough discount to cover any potential costs associated with fixing this.
We would just use temporary jacks to re-level the house next to the settling pier and either put in a new pier or pour a new much wider pad. Those piers are on blocks which is not ideal. The blocks can be prone to tipping like that and and are not a wide enough surface to allow some movement.
You won’t be able to get a conventional loan because of this issue but neither will anyone else. This may be a good opportunity to work out a creative exit for the seller that benefits you both.
Bay Area, CA. · Member since 2015 · 8 posts · 2 votes
6y
Thanks for the info Jon and Matt!
I'm concerned when you say I won't be able to get a conventional loan... so during the appraisal they'll just decide they won't loan to me? Or they don't loan at all on houses with foundation issues?
Contractor · Seattle, WA · Member since 2018 · 78 posts · 54 votes
6y
@Kyle Laffey - Talk to your loan officer. You might be able to get a renovation loan. There are FHA options but since it's structural they may not go for it.
I would share the inspection report with the seller and see if he can pay for the fix or drop the price substantially.
If you really want the property it may be worth getting creative. Whoever does end up with the property will most likely get a big discount and only spend a couple thousand fiddling around with those piers for a couple days.
Bay Area, CA. · Member since 2015 · 8 posts · 2 votes
6y
That makes sense - thank you @Matt Lewis. I was told by my agent that bank appraisals don't even look at structural or foundation issues and won't know about it.
Luckily I have a loan contingency that will cover this if there's any issue.