If you’ve ever looked to purchase a house, try to remember how you felt when you came across a house that listed “foundation issues” – you were probably not the most enthused about that particular property!
As you prepare to put your house on the market, completing a thorough foundation inspection is a crucial step in order to ensure you can present your home to potential buyers without any major issues rearing its head that could possibly negate their interest.
Why Is Selling a Home With Foundation Issues Difficult?
Without a doubt, foundation problems are one of the top deterrents of a potential homebuyer. HD Foundations addressed this potential setback in one of our previous blog posts, “When is Foundation Repair Necessary?” To paraphrase, there are a few overarching reasons why you may find that selling your home with foundation issues is difficult:
- Foundation repairs (if completed prior to the transfer of ownership) could hold up the move-in date, which not a lot of buyers want to accommodate
- Disclosing foundation issues may drastically reduce the value of bids you receive from potential purchasers
- Buyers may run into issues with lenders refusing to finance a home before foundation problems are addressed and fixed
Lastly, the level of foundation repairs needed could have a significant impact on how difficult selling your home might be. Having a comprehensive estimate completed by a professional foundation repair company in DFW metroplex will give you an indication as to whether you might need to consider having the foundation issues taken care of prior to putting the home on the market, or if the problems are minimal enough that it would be possible to complete a sale as-is.
How to Navigate Selling a House With Foundation Problems?
It is never recommended to falsify a home inspection document or present your home under false pretenses. In fact, most home buyers will utilize their own home inspection service, so if there are any foundation issues that you haven’t been forthright with, they will most likely be found by the inspection professional.
You can even authorize your real estate agent to show prospective buyers the foundation estimate as well to be upfront about what repairs need to be done.
In some instances, buyers may be specifically looking for homes with foundation issues (“fixer uppers”), and won’t have an issue with purchasing that type of home. However, you may need to adjust your selling price or accept a cash-only offer in order to navigate those specific types of purchasers.
Additionally, some buyers may not be put off by foundation issues that are relatively minor, especially if repairs wouldn’t be too difficult/costly to undertake – however, be prepared to be asked to take care of those prior to completing the sale as part of the negotiation process.
Are you thinking about selling your home, and need a comprehensive foundation repair estimate? Or have you identified existing foundation problems that need to be addressed prior to putting your home on the market? Give HD Foundations a call – our trustworthy professionals have assisted homeowners all across the DFW metroplex with their foundation repair needs!