Is It Hard To Sell A House With Foundation Problems?
Selling a house that needs foundation repair or has foundation problems can be a challenging but common problem in San Antonio. Houses that have foundation problems often exhibit signs in other areas of the house.
Issues like sheetrock damage windows that won’t open or close properly doors that are stuck cracked or broken tiles on the floor or shower walls can all be issues that stem from a foundation problem. Another telltale sign of foundation issues in a house is a floor that feels sloped or slanted. When foundation issues are present, selling a house can be made can be more difficult.
Should You Repair the Foundation Before Selling?
When you want to sell a house that has foundation problems, you must first decide if you were going to fix the foundation or if you were going to sell the house as-is without repairing the foundation.
Finding the Right Foundation Repair Contractor
When considering fixing the foundation, finding a reputable contractor who specializes in foundation repairs is key. Look for a contractor with great Google reviews and a positive Better Business Bureau profile. Reputable foundation companies often offer lifetime transferable warranties, provide a structural engineer’s letter upon completion, and shouldn’t require more than a 50% deposit to begin the foundation repairs.
Cost of Foundation Repairs in San Antonio
Foundation repairs in San Antonio can vary in cost depending on the type of foundation you have. Slab foundation repair is typically more expensive because it involves concrete breakouts, floor removal, and possibly tunneling under the house. These repairs can range anywhere from $3,000-$25,000 depending on your specific situation. Pier and beam foundation repairs are usually less expensive because they don’t require concrete breakouts and the access underneath the house is typically easier.
Additional Repairs After Fixing the Foundation
Another crucial consideration is addressing the damage the foundation problem has caused. Sheetrock repairs, window repairs, door repairs, tile repairs – all of these will be required after the foundation is repaired. So, you must budget for more than just the cost of the foundation repair. Keep in mind that these cosmetic issues can deter many buyers, so be sure to budget for all the necessary repairs.
Potential Extra Costs After Foundation Repair
- Sheetrock repairs: Foundation issues often cause wall damage that needs repair.
- Window repairs: Windows may become stuck or misaligned due to foundation shifting.
- Door repairs: Similar to windows, doors may not fit their frames after foundation shifts.
Tile repairs: Cracked or broken tiles are common signs of foundation problems and may need to be replaced.
Selling a House with Foundation Problems As-Is
You don’t have to take on the foundation repairs if it’s not something you’re comfortable doing. You can sell the house as-is to someone willing to buy a house in need of foundation repairs. Many cash buyers and real estate investors in San Antonio, like local companies who buy houses for cash, don’t require you to make any repairs. This is a viable option if the thought of foundation repairs seems overwhelming or requires more resources than you have available.
Can You Sell a House with a Bad Foundation?
Yes, as mentioned earlier, you can indeed sell a house that needs foundation repairs. However, it’s worth noting that such a sale typically involves selling to a local real estate investor.
Why Real Estate Investors are Key Buyers
These investors are well-versed and comfortable with purchasing properties that have structural issues like foundation repairs. The key reason why most homebuyers planning to live in the house are unwilling to buy a property with foundation issues is simple – banks are often hesitant to lend for such properties.
Benefits of Selling to Real Estate Investors
- Experience: Investors are well-versed in dealing with structural issues like foundation repairs.
- No loan complications: Investors buy in cash, circumventing potential loan refusal by banks due to foundation problems.
- No extra inspections: Investors often don’t require additional inspections, saving time and money.
- No failed sales: With an investor, you’re less likely to see a sale fall through due to foundation issues.
The Pitfalls of Traditional Home Sales with Foundation Issues
At first, a new home buyer may not realize the presence of foundation problems and might begin the purchasing process. However, during inspection and appraisal, foundation repairs will inevitably surface, causing the bank to decline to lend for the sale.
Preventing Failed Escrows and Contract Issues
Selling a house with foundation problems often leads to failed escrows and properties falling out of contract. Selling to a local person who buys houses in San Antonio can avoid this. Such direct dealings streamline the process, ensuring that your sale doesn’t fall through due to underlying foundation issues.
Are Foundation Issues A Deal-Breaker?
Selling a house that has a bad foundation isn’t always a dealbreaker. The times when selling a house with a bad foundation is a dealbreaker is when the bank declines to land on the sale or a foundation repair that was unexpected is discovered. When dealing with a cash home buyer in San Antonio oftentimes the buyer doesn’t require additional inspections and is aware of the foundation issues from the very beginning and will not let us sell fall through simply because of a foundation issue.
Making the Decision: Selling a House with Foundation Problems in 2023
Navigating the sale of a house with foundation issues can feel daunting. You have options – repair the foundation and sell traditionally, or sell as-is to a savvy real estate investor. It’s crucial to understand the implications of foundation repairs to prevent any unfavorable surprises. Opting for a real estate investor like Capstone Homebuyers offers a stress-free solution. With us, you bypass the hassle of cosmetic and foundation repairs, and even property cleaning. Remember, every scenario is unique – the best choice hinges on your individual circumstances. Not sure which path to tread? Reach out to us at Capstone Homebuyers. We’ll walk you through your options in detail, in person, and provide a dependable cash offer you can count on.