I am currently looking at a property with good cash flow but has what sounds like foundation issues. I just talked to the sellers agent and they said the previous home inspection report said something about a structural issues. You can see from the photos on the place that the whole house is sagging towards the middle.
The house is obviously a decent price because of this and I am not afraid of getting the work taken care if I need to but I am not sure if anyone on here has any experience with this? The listing says "concrete" as the foundation so I am assuming this means a concrete slab foundation.
The agent mentioned that the issue was there 3 years ago when the seller bought the house and that it hasn't deteriorated at all since then, but who knows.
I am currently looking at a property with good cash flow but has what sounds like foundation issues. I just talked to the sellers agent and they said the previous home inspection report said something about a structural issues. You can see from the photos on the place that the whole house is sagging towards the middle.
The house is obviously a decent price because of this and I am not afraid of getting the work taken care if I need to but I am not sure if anyone on here has any experience with this? The listing says "concrete" as the foundation so I am assuming this means a concrete slab foundation.
The agent mentioned that the issue was there 3 years ago when the seller bought the house and that it hasn't deteriorated at all since then, but who knows.
Thoughts?
Cody, without looking at any photos it's hard to say. A sagging foundation can be fixed.
Are there cracks in the foundation? I am assuming there are. If so, are the cracks 'horizontal' (go from left to right), or are they 'vertical' (up and down)?
If this is your first deal and if you have horizontal cracks, then either pass on the deal or wholesale the deal to someone else. Horizontal cracks are wayyyy costlier to fix ($10K or more vs. $1,000 for vertical cracks).
@Cody Kahl best thing is to get a GC, Engineer or foundation repair company to take a look and give you advice and estimates. These issues and causes vary from region to region so the cause and seriousness of the problem can be different in your area than others.
Hey Michael. If I go to the place what sort of things should I bring? A good level is what I had in mind. There are some pictures of the basement units:
Not sure if you can tell much from the pics though. I can see what looks like some cracking in the corner of one photo. I just got a quote from a foundation company with good reviews saying it could cost anywhere from 5k - 25k, and that they would use piers under the concrete slab foundation.
It's probably worth getting a building engineer or foundation specialist out there to evaluate it. It may need support posts or there may be rot/termite damage on some of the center beams or floor joists or it may be overspanned. A specialist (or at least an inspector) should be able to help you figure that out.