Things You Need to Know About Selling a House With Foundation Issues

The foundation of a house is the cornerstone of the structural integrity of the entire structure. Houses built on normally unforgiving and shifting terrain can be anchored firmly in place with the right foundation. Like everything in life, however, your foundation might not be impeccable. You might not even want to live in the house anymore as is and have only recently found a problem with the foundation that will complicate your sale. Your choice is now to either embark on a pricey foundation repair involving thousands of dollars that won't be added to the value of the house, or try to sell the house with the foundation problems. Luckily, the second option isn't as foolhardy as one might expect. Here’s what you need to know:

Establish the extent of the damage.

Without a professional, it can be challenging to know if your foundation is indeed damaged. Some signs visible to the layman include cracked tiles and flooring, trim anywhere in the house no longer lining up or being cracked, as well as other superficial cracks or warping of structurally significant walls and beams. The amount of this damage and how significant it is can be a good indicator of just how far gone your foundation is. The less, the better, obviously.

What's the cost of repair?

After assessing the damage, it's time to determine the financial burden associated with having those problems fixed. Foundational repairs can be as low as $1,000 or as high as $50,000, with something around $4,000 being the average across the USA. Getting a printed quote from a contractor can help you establish the financial burden any potential buyers will have to undergo, among other tips on how to sell a house with foundation problems. This gets rid of a lot of the uncertainty involved with buying a house, as the new owner can take this quote to the company that made it, and then have the repairs done at that price. Without the quote, there will be the worry that they're buying the one unlucky house with issues closer to $50,000 in repairs than $1,000. 

Repair, or sell as is?

If you can get a spectacular deal on the foundation issues or the issues are minor and will be fixed easily, then you're in a good position to have the foundation repaired before you begin the selling process. Having to renovate a house, even in a minor capacity, is a huge barrier to purchase for most homeowners who simply want a turnkey home ready for habitation. If the foundation issues are beyond what you're comfortable with, you can often sell your home in an as-is fashion to a cash investor who's looking to fix the problem and flip the house themselves. With this option, you're likely to get far less than you would if you had taken the house to the market. However, there's minimal inconvenience involved in this kind of transaction and can be a great way to cut your losses quickly.

Conclusion

The quick and easy answer here is that houses with foundation issues get bought and sold by the hundreds on a weekly basis across the country. Not all foundations are made the same, and not all of them break the same, either. What's a foundation issue on paper might be a simple two-week fix and cost about as much as getting your car repaired, or it could seriously impact your home's ability to sell. Speaking to contractors, realtors, and other home professionals can help you acquire a sober assessment as to what you can reasonably expect to do to help get your home sold.