Selling a House with Foundation Issues: What to Know

selling a home with foundation issues

You’ve heard about cracked foundations, but that could never happen to you, right? The bad news is that foundation issues often creep up over time and take you by surprise. By the time you notice a diagonal crack or other visual sign of foundation issues — you’re in deep.

The foundation isn’t the part of you home you think about the most, but it’s the most pivotal in regards to the stability of your property. Causes of foundation problems include an increase in soil moisture, total loss of soil moisture, poor compaction of the home’s placement pad, and other environmental factors. As your foundation starts to sink or shift, you will notice cracks and fractures. Fixing a foundation costs an average of over $4,000. If you don’t have the money and/or you’re ready to get out anyway, selling your home with a credit to cover the costs of the new owner’s repairs might be the right solution. And selling a house with foundation issues isn’t impossible.

Foundation Problems are Tricky

Foundation issues are difficult because despite how serious they are, they’re aren’t always detectable at an early stage. Walking the perimeter of your home each spring is a good place to start — but you might not realize your home is in need of a lift until you see a crack running across an interior wall. And fixing a foundation depends on your precise situation. You may need new support pillars, which will significantly increase the cost of repairs. And you won’t know until you get a full assessment from a professional. Unless you’re a contractor yourself, don’t try to diagnose your own foundation issues.

Disclosures are Key

Not sure you want to take on the task of fixing your foundation? Selling is OK. Wave your white flag and get out of there. Just make sure you submit full disclosures to all potential buyers. You don’t want this issue to come up during an inspection and surprise someone who put in a formal offer. Instead, attract buyers who are interested in a project or looking for a great deal by being transparent. It may take longer to sell your property, but you won’t have to deal with pulled offers. If you don’t disclose the issue and your home sells — you are in for some serious legal issues, so don’t risk it.

Do Your Research on Repair Costs No Matter What

Whether you’re staying in the home or trying to sell, it’s still good to get an estimate on the repairs. Selling a house with foundation issues is easier if you can present potential buyers with a report on how much they’ll likely have to spend to fix the problem. That takes the mystery out of the issue and you’ll attract only buyers who are ready to take on the exact challenge your home presents. Get a few bids and show the inspections and quotes to your potential buyers right away.

You Can Still Sell a Home with Foundation Issues

It’s not impossible to find a buyer for a home with a cracked foundation —  but it could take a while. When you work with a company like California Family Homebuyers, the process is a lot easier than going through the MLS. We’re prepared to take on homes with a variety of flaws, including foundation problems. Even better, you can choose the closing date and we can often finalize the sale within a week. No, really! California Family Homebuyers purchases homes all across Sacramento, and we may be the right buyer for yours. Contact us today to see if we’re the right buyer for your home.

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