SFH purchase: inspection red flag

6 Replies

BPers

Need a quick advice

I am in contract for a 1920s SFH in 44111 zip code. It is around 117th and about 10 avenues south of Lorain ave (south of Thrush ave) . The price point is 45k. It is a well maintained 3/2 and I think the price is fair for a 15yrd old roof.

I got an inspection done and have some concerns on the foundation comment in basement.

Should I be concerned on this? Shall I ask for a reduction and how much would it cost to fix. Should i back out?

I have a few more days before I can back out, so appreciate quick feedback

I am a registered professional engineer and almost everyone will tell you “it depends”. How much has it moved, how long ago did it move, is it still moving. Most likely the gutters need work or cleaned out to cause the water to get away from the foundation and reduce the pressure on the wall. Without seeing the exterior and monitoring, it’s hard to really know the extent of repair or if one is even needed. 

Originally posted by @Matt Motil :

I am a registered professional engineer and almost everyone will tell you “it depends”. How much has it moved, how long ago did it move, is it still moving. Most likely the gutters need work or cleaned out to cause the water to get away from the foundation and reduce the pressure on the wall. Without seeing the exterior and monitoring, it’s hard to really know the extent of repair or if one is even needed. 

 Thanks so much for the reply. Jad Boudiad is my realtor and he said he will check once more on the extent of the move. The inspector says it may have been moving for years and no one noticed.

@Sunny D.

If there is a serious structural problem in the basement, leave this one for a local investor with expert knowledge of structural issues.

@Jad Boudiab is a good realtor. He will find you another house without structural issues.

Thank you @Bob Collett , something to ponder today and decide.

Jad has been great to work with. He checked out multiple homes in person and in many cases we missed out on the offers by a whisker. Funnily, we had a home in the 160s st at my price point, we got seller to agree on a verbal offer and by the time we sent it, a different buyer sent theirs within a 15 min window and seller accepted the other offer thinking it was ours. The market does seem to have picked up but returns will be harder at the higher price points.

For a 60k purchase that can rent for 950.
Taxes ; 150, insurance : 60, mgmt fee: 95, maintainence :100 , water+sewer : 100
vacancy allowance :100

There appears very little cashflow unless there is limited vacancy and lower maintenance


Originally posted by

Sunny,  I used to work for one of the largest foundation repair companies in the United States and have repaired hundreds of houses similar and a lot worse to this one in Nebraska.  I agree with Matt that there are probably some outside issues that can really help with this problem.  downspouts pouring out water next to foundation, negative slope of outside soil or concrete, clogged gutters etc... One question that you could ask is when the skim coating was done.  If it was done anytime recently, then you know that the wall is continuing to move since the skim coating wouldn't have cracked if the wall wasn't moving.

There are several different ways to repair a foundation without having to replace it such as steel beams, wall anchor plates, or carbon fiber straps with epoxy.  As far as cost goes, I cannot speak to prices of contractors in California, but I can tell you how I estimate repair costs in Nebraska when I see a wall similar.  I am going to use steel beams as an example.  You should support the entire wall that is bowing, and you need to add a beam about every 6 feet with a couple closer to the corners, about 3 feet off.  So when I am estimate I take the length of the wall and divide it by 5 to get the total amount of beams I need, and then multiply it by $600 to get total cost.  So an example, if it is a 30 foot wall I would take 30/5 to get 6 beams, and multiply it by $600 to get $3600 repair. Now this is simply an estimation and costs can vary greatly.

In my opinion, this isn't something that should scare you away completely, but I would get a local foundation repair company to come and give you a free estimate and I would definitely ask for a reduction, the worst they can say is no and then you can re-evaluate if the deal is worth it.

Hope this helps

Originally posted by @Austin Chambers :

Sunny,  I used to work for one of the largest foundation repair companies in the United States and have repaired hundreds of houses similar and a lot worse to this one in Nebraska.  I agree with Matt that there are probably some outside issues that can really help with this problem.  downspouts pouring out water next to foundation, negative slope of outside soil or concrete, clogged gutters etc... One question that you could ask is when the skim coating was done.  If it was done anytime recently, then you know that the wall is continuing to move since the skim coating wouldn't have cracked if the wall wasn't moving.

There are several different ways to repair a foundation without having to replace it such as steel beams, wall anchor plates, or carbon fiber straps with epoxy.  As far as cost goes, I cannot speak to prices of contractors in California, but I can tell you how I estimate repair costs in Nebraska when I see a wall similar.  I am going to use steel beams as an example.  You should support the entire wall that is bowing, and you need to add a beam about every 6 feet with a couple closer to the corners, about 3 feet off.  So when I am estimate I take the length of the wall and divide it by 5 to get the total amount of beams I need, and then multiply it by $600 to get total cost.  So an example, if it is a 30 foot wall I would take 30/5 to get 6 beams, and multiply it by $600 to get $3600 repair. Now this is simply an estimation and costs can vary greatly.

In my opinion, this isn't something that should scare you away completely, but I would get a local foundation repair company to come and give you a free estimate and I would definitely ask for a reduction, the worst they can say is no and then you can re-evaluate if the deal is worth it.

Hope this helps

 thanks so much, very helpful

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