So you’ve discovered that the property you intend to buy has some recent foundation repairs? This should not be an automatic deal-breaker, but you’ll need to do further investigation to ensure you understand everything about the repairs.
If you are buying a house and the seller discloses that the repairs were recently done, should you continue with your purchase? You need to consider many things when purchasing a home with recent foundation repair work. These include:
Who Handled the Repair Work?
Should I buy a house with foundation repairs? You can answer this question after understanding who did the foundation repairs. The seller should provide you with the repair work documentation. You can read through the reports to gauge how professional and reputable the repair contractor is. You also do some little research to determine the reviews and testimonials on the company’s website. If you can find the contractor online, chances are they are experienced, and they provide reliable foundation repair services.
The Scope of the Project
It is crucial to understand how bad the foundation problems were. The repairs can range from a few piers to a total foundation overhaul with piers all over. If the project is more substantial, you need to be extra cautious. You should ensure that the repairs were handled by a highly qualified contractor who used the best quality products.
The Warranty
Most reputable foundation repair companies offer warranties on products and services. Therefore, before buying a house with recently made foundation repairs, find out if the warranty is transferrable. Some companies might void the warranties as soon as the house changes ownership, while others honor warranties even after the sale. Transferrable warranties are the best bet because you can rest assured that the contractors will be at your service in case of anything.
Know When to Walk Away
As much as the house might suit all your needs, it is crucial to know when to walk away. In this case, you can hire a professional structural engineer to assess the quality of the repairs done by the previous engineer. The engineer will evaluate the quality of the products used and how good they handled the project. If they feel that the repairs are not up to the best standards, you need to walk away and look for another house. After all, you cannot afford to purchase the house and spend a fortune on more repairs in the long run.
In summary
Buying a new house can be an exciting experience. At the same time, there are multiple factors to consider when answering the question, should I buy a house with foundation repairs? Your answer depends on whether you are confident in the work of the repair company. If you’re confident that the company used quality products and did a thorough job, you can move forward in purchasing the house. However, if the seller did not hire a trustworthy company, you can walk away and look for another property. You can also hire an experienced structural engineer to advise you on the best course of action.
