Selling a House with Foundation Issues In Detroit
You begin to observe issues with your house such as doors and windows not shutting correctly, hairline cracks emerging on walls unexpectedly, and objects rolling towards walls due to a sloping floor. After a brief online search, you connect the dots and realize these are classic indicators of a foundation issue.
Realizing your house has foundation problems is a dreadful discovery to make.
Should you consider fixing it and continue living in your house? Is it still safe for you and your family to be staying in your house?
As per the National Foundation Repair Association (NFRA), foundation damage costs $12.5 billion in repairs annually. One popular fix, underpinning, sets homeowners back an average of $18,000! Selling up and moving may seem like the simpler solution for many.
Can You Sell a House with Structural Damage?
While a house with a foundation problem can sound daunting, don’t panic.
The answer is YES. A foundation issue is not a contract killer. It’s not impossible to find interested buyers.
But trying to sell a house with foundation problems brings with it 3 D’s: Diminished property value, Delays, and Damage control.
Diminished Property Value
A home with foundation issues could lose up to 15% of its worth. To lessen this impact, consider hiring a skilled inspector or engineer to check it out. Fixing it may not be as costly as you think.
Delays
You gotta get your foundation checked to see how bad it is and figure out if you’ll repair it or sell the house as is. It may take a while before you can sell your house with foundation problems.
Damage Control
Depending on what it says on the inspection report, you may need to do some urgent repairs in order to avoid further foundation damage. Additionally, timely foundation repairs can prevent your home’s value from plummeting.
Causes of Foundation Problems
The nightmare of foundation problems are typically caused by two things:
Change in Soil Properties
Acts of mother nature, such as earthquakes and flooding can alter soil properties so that they are unable to support your home’s structure.
Earthquakes
In earthquakes, there is a phenomenon called liquefaction, wherein the water in the soil bubbles up to the surface and causes the soil particles underneath your foundation to sink, bringing your home down with it.
Flooding
Severe flooding, on the other hand, could saturate the soil, increasing the hydraulic pressure and causing foundation upheaval, which manifests in severe bowing of basement walls and floor slabs.
Temperature
High temperatures may impact the ground, making it contract and leaving your base without support. When it rains, the reverse can occur, causing it to swell and potentially leading to foundation strain and cracks.
Large Trees
Additional reasons for foundation issues include sizable trees with spreading roots that may extend beneath your dwelling, causing harm to its concrete base; neighboring development, particularly if the groundwork lacks proper support, leading to soil sinking; and unresolved plumbing issues.
Inadequate Understanding of Soil Properties
One of the most well-known examples of not knowing enough about soil when designing a building is the Leaning Tower of Pisa. It was constructed on unstable ground, which made it lean dangerously to one side, almost falling over. Although occurrences like this are rare nowadays, they still happen occasionally. Thanks to improvements in geotechnical engineering, structural engineers now have the necessary data to avoid such problems.
How to Know if Your House Has Foundation Issues
Tiny cracks often indicate hidden issues with the structure—perhaps not directly related to the base—but it’s wise to investigate early on to prevent escalation.
Water in basements and crawl spaces, walls bulging outward, cracks resembling stairs, and floors separating from walls may suggest the house is settling and the foundation is shifting. Schedule a home inspection promptly to assess the severity of your foundation concerns and explore potential solutions.
Types of Foundation Repairs
As mentioned above, a thorough foundation examination is needed to determine what type of repairs are needed. Depending on what you need to do, foundation repair can cost between $250 to upwards of $100,000.
Let’s take a look at some foundation repairs:
Hydraulic Piers
Piers are sturdy tubes crafted from either concrete or steel, forcefully placed into the ground with a hydraulic ram to reach the solid soil layer beneath your property. They serve as a foundation support technique to steady homes experiencing settling or leaning issues.
Helical Piers
A steel or concrete tube like the ones above, but instead of being driven underground, they are “drilled” towards the hard soil layer, similar to a large screw.
Slab Jacking
One of the frequent fixes for concrete foundations is addressing soil sinking, which can pull down your floor. This method entails drilling holes strategically and pumping in grout or dense foam to raise the slab. It’s a cheaper alternative to replacing the entire slab.
Epoxy Injection
For small cracks in concrete and brickwork, you can use structural epoxy to stop them from getting worse and causing more damage. This works well if you catch the problem early.
Soil Modification
This involves filling the voids in the soil with grout or mortar in order to increase its stiffness and stabilize it, improving performance.
Selling a House with Foundation Problems
Once you have decided to sell, here are the options available to you:
Option 1: Undertaking Foundation Repair Prior to Selling
Before selling a house with foundation problems, consider fixing them first. This could attract more buyers and let you ask for a higher price.
If money is tight, there are companies that offer payment plans and fixed credit to help cover the costs.
Plus, fixing the foundation with a trusted company usually includes a warranty for peace of mind.
While you’re at it, address any cosmetic issues like landscaping or repainting. This will make your house more attractive whether you use real estate agents or sell it yourself.
Fixing these issues also helps potential buyers since many banks won’t approve mortgages for homes with foundation problems, limiting your buyer options to cash buyers.
Option 2: As-Is Sale of your Property with Foundation Issues
Thankfully, not every buyer seeks a ready-to-move-in house. While many buyers view structural problems as challenges, a specific group sees them as chances…
Property renovators hunt for the most rundown properties available. They, along with their expert team, fix up and upgrade the property before selling it for a handsome profit.
Opting to sell your home without making repairs can be more cost-effective in the long term. Spending money on costly repairs doesn’t ensure a return on investment when you sell later on.
4 Factors to Help You Decide Whether to Fix Foundation Issues
A professional foundation inspection is the most helpful thing to have in making an informed decision whether you’d go down the path of selling as-is or doing the foundation repairs first. A professional inspection will be able to tell you the following:
1. Extent of the Damage
If you discover significant foundation problems, like wide cracks causing walls to bow severely, you have the option to sell your house as-is. This allows the buyer to tear it down and construct a new one on the land.
If the foundation assessment reveals only minor cracks that can be fixed at a reasonable cost, you may want to prioritize repairing them before putting the property on the market.
2. Projected Repair Cost
You can request your home inspector to tell you the total scope and how much it would cost to address your home’s foundation problems.
3. Time vs Money
In the end, it boils down to the price you’re willing to accept. Are you willing to do the big fixes yourself to sell the house for more money? Or would you rather settle for a lower price and skip the hassle of repairs and renovations altogether?
4. Real Estate Market
Your decision can also depend on whether it is a buyer’s or seller’s market. Consult a nearby real estate agent to gauge the market. In a seller’s market, with low inventory, selling a house with foundation issues may be simpler than expected.
To avoid agent fees, consider contacting cash house buying companies for multiple cash offers from investors.
5 Tips on Selling a House with Foundation Issues
1. Be Transparent with Interested Buyers
In real estate, integrity is important. So, it’s smart to tell potential buyers about any problems with your home, like issues with the foundation.
Even if you fixed the foundation before putting your home up for sale and made sure there are no visible signs of problems inside or outside, you still need to give the buyer paperwork showing the repairs. Disclosure of any flaws, weak spots, and hidden dangers, past or present, is mandatory in most states.
While past foundation issues can be a deal breaker for some, you’ll be certain to find a buyer sooner or later.
2. Obtain a Written Buyer’s Acknowledgement of Foundation Issues
For your protection, it is advisable to get a buyer’s acknowledgment, in written form, that you have disclosed any and all issues concerning your house.
3. Get Multiple Foundation Repair Quotations
When looking for a contractor who can do the necessary repair work, it is not advisable to get a single quote from a foundation repair company. Shop around to get the best price and the best contractor for the job.
4. Give Buyers the Repair Quotes You’ve Collected
If you decide to sell your house as-is even after obtaining repair quotes, you can pass them on to the cash buyer so they can decide if they’re going to repair foundation issues themselves or pass on the sale.
5. Specify that You’re Looking for Cash-Only Buyers
If the foundation damage is too extensive, potential buyers may have difficulty getting their loans approved. A cash investor is your best bet in getting your distressed property sold.
Final Thoughts:
Selling a House with Foundation Issues in Detroit
If you want to sell your home quickly without making any repairs, We Buy Houses in Metro Detroit is here to offer you cash. Forget about the stress and hassle of fixing foundation issues.
With us, you won’t have to spend money on fixing the foundation or wait for repairs to be done. We buy houses in any condition, whether they have sagging eaves or crumbling foundations.
You can choose your closing date, even as soon as 7 days! You’ll receive your cash within a week, and we cover all closing costs.
If you’re interested in the benefits of a fast cash sale, fill out the form below!
Questions? Call us at (313) 710-7744, and we’ll be happy to assist you!”
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Author: Saini
My name is Saini, and I founded the We Buy Houses in Metro Detroit team with years of experience in the real estate industry. I have assisted numerous sellers in selling their homes quickly, “AS-IS”, and for a fair price.
He’s been featured in multiple publications including Yahoo Finance, GoBankingRates, LegalZoom, The Mortgage Report, Apartment Therapy, US News and World Report, and SuperMoney among others.