We are considering whether to buy a REO that has major foundation problems. We've looked at the comps but aren't really sure about how much to allocate for piering. I called one place and it was 1200 per pier. We had our own basement done and that sounds on target. I'm not sure how far apart they are usually placed so as to get an estimate.
There are huge cracks throughout the house. There is a finished basement next to a subbasement and everything above the subbasement seems stable but the slab on the finished side has cracked. Here are some photos I put together in a Google doc. https://drive.google.com/open?id=0B0hhDVxbmkfJUTlLT2pyVFNaUUE&authuser=0
I'd appreciate any insight you have that would help us determine cost of worst case scenerio.
We just went through this on a house. Got several estimates that ranged all over the place. We finally decided to have an engineer come out and look at the house. He was very helpful best money we ever spent.
Definitely have an engineer come out and look at the house First.
In STL it $1,500 to $1,200 per pier.
I think my Google link isn't working so I'm trying to upload the photos here.
Thank you for your replies. I will see about contacting an engineer. Too bad offices are closed this week due to the holidays. We appreciate this community sooo much!
From the pictures the cracks don't look that bad, are you sure you need to have piers. Most basements on the Kansas City area can be fixed by adding wall restraints and fixing drainage problems on the outside.
That is what my husband thinks since there is a crack on the basement floor which comes out a crack in the corner of the subbasement. We are going with worst case scenario so that if we make an offer we don't get into trouble. Have you used a foundation person in KC?
We have used MOKAN foundation and had good experience
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing