Foundation Sill Beam Repair/Replacement
Hello Fellow Investors,
Newbie from SC under contract with a home that needs a complete reno. Among all of the things that need to be done, one is major and something I am quite unfamiliar with. There is 30ft of foundation sill beam that needs to be replaced around the exterior of the home, and another 6ft under the home near the center joist. I have gotten three different quotes so far, one from a professtional termite company ~$7500, a contractor ~$2000, and a handyman ~$1500. Which route should I go of course I will get more quotes but; how major of a repair is this? Have anyone else encountered this, how did you proceed? Are there any recommendations for contractor? Any questions that I should be asking?
A little background on the property, it is the previous home of a hoarder, the bank says they paid out ~10k to have all of the trash hauled away, so that's the need for the extensive reno. There is not much that is salvageable on the interior of the home. Big ticket items to the budget are, a new roof, HVAC, and rotted sill. Beside the sill, the foundation is in tack. Below are pictures of the damage.
Selling price is $50k, est. rehab is ~$50k ARV is $155k