Our little secret? Finding a house that has or has had foundation problems maybe a GOOD thing.
If you find a house that has had foundation repairs already done, do not be afraid of considering its purchase solely based on that fact. If the repairs were done correctly, fully disclosed and with proper transferable warranty, this could actually be an asset. Since the entire DFW metroplex is built on very expansive soil, remember the old saying - “There are two type of homes in Dallas, those with foundation repairs already done and those that still need to have it done”.
Conversely, if the house you ‘must have’ is just beginning to shows signs of foundation troubles make sure your inspector is experienced in assessing distressed properties. If the inspector finds a need to perform foundation repairs, don’t turn your back to the property. Instead, discuss possible solutions, adjust the price you are willing to pay based on the extend of the repairs. Discuss with your real estate agent how to implement the repairs and make sure the following is described in writing:
- What are the repairs that need to be completed
- Who is doing the repair. This should be a contractor of YOUR choice.
- Time of completion for the job.
- Who does the final inspection and how is it determined that job is completed.
- Who’s paying for it.
- How is it going to be handled if the job is NOT completed satisfactorily.
With spring fever here, this is the time when the residential market is the most active. If you are in the process of looking for a new house, do your homework and inspections, paying particular attention to the home's foundations.
Keep an open mind and use the house foundation conditions to your advantage.