How to Sell a House that has Foundation Problems
The foundation of your house is there for stability and safety. But like most things, it does not stay the same year after year. It’s especially the case if it has been standing for a long time or if exposed to harsh conditions like bad weather, poor drainage systems, etc. Unfortunately, this can be hard to notice without expertise. That’s why most people selling homes are caught by surprise when buyers uncover underlying foundation issues. Don’t be caught off-guard. Let’s take through ways to sell a house that needs foundation repair.
Selling a House that Has Foundation Faults
1.Assess and Repair Foundation
Although the majority of foundation problems manifest as cracks or dips, the list of potential issues might not be easy to detect. It is, therefore, essential that you seek the services of an inspector to check your house in general. If your house has foundation defects, then a professional foundation repair services can help. Foundation repair services like https://pinnaclefoundationrepair.com/ can do a detailed assessment of the foundation of your house. Their expertise comes in handy in understanding the severity of the damage, the causes, and they can help fix the issues.
Frankly, the value of your house is way higher than the cost of repairing the foundation. You can retain a good fraction of the house value and make a quick sale by fixing the damage before the sale. A reliable foundation repair company will rectify all the faults and bar future risks to the new homeowner. On the flipside, with foundation issues, the buyer may suggest a huge price cut to fix the foundation on their own. Some will even walk away from the deal of buying your house, and you might end up struggling to find a willing buyer.
2.Disclose the Damages
Not all foundation damages are that serious. But it’s better, to be honest, and upfront about the issue rather than trying to hide it. You may be surprised by the number of potential buyers willing to buy simply because they see a trustworthy seller. In reality, prospective homeowners are not as rigid as you might think. Some will allow room for some minor defects if the house is generally in good shape. Looking at it from a legal perspective, disclosing the damages protects you from lawsuits in case the new buyer decides to sue you for withholding information.
Important tip: Transparency is vital if you truly want to make a house sale quickly. You will also avoid issues with the home buyer in the future.
3.Lower Your Price
If fixing the damages is a task you don’t want to undertake, you can lower the price of the house. It is a good option, especially for buyers who want a fixer-upper. Yes, there are those buyers who want to buy a house then change and fix the house to match their taste. This includes adding in features like flooring, interior design, roofing, etc.
As you have noticed, you have some options as far as selling a house that has a damaged foundation is concerned. Ultimately, the house will need a repair, and you can decide to handle this or let the new owner deal with that. Don’t hide the problem as it might come back to haunt you in the future!