Tuesday, July 31st, 2018 by Denise Hassett
The reality is that the foundation is truly the base of your home. It is the indicator of how strong, stable and safe the home is. So when homeowners are considering selling a home with foundation problems they have to ask themselves “Should I repair foundation problems before I sell?” It’s a difficult question but one that makes a huge impact on the actual sale of the home.
As homes age there will always be some level of settling that occurs, usually due to soil changes that continue over time. You may notice signs of settling within your home, whether it’s cracks in the walls or concrete, leaks in the basement, uneven floors, doors and windows that stick, or even ceilings or window sills that separate from the walls.
Bring in professionals to assess your foundation
While some of the cracks in your home may be cosmetic issues, they could also be indicators of more serious structural foundation problems. It’s important that you bring in a professional to assess whether the signs of settlement that you are seeing are serious. You can reach out to structural engineers or a local foundation repair company, such as Davenport Foundation Repair, to come to your home and do a full assessment and let you know what your options are for repair. If a homeowner is aware of foundation problems they are legally obligated to disclose this information to potential buyers. Once you know the extent of the issues you can determine whether to repair them before you sell the house, or sell it as-is. Maintaining property value and appealing to potential buyers are things to consider when making that decision.
Selling your home at market value
The goal of sellers is to get as much for their home as possible. While it would be nice to sell it at market value, foundation problems can be expensive to repair. The signs of settling will be noticed by a buyer’s home inspector and you can expect the buyer’s offer to be lowered to compensate for the repairs they will have to do. Foundation problems can lead to a 10 – 20% reduction in price, if not more.
Improving your chances of selling
Many potentials homeowners will be scared off by a home with foundation issues. They may not be wanting to take on a home in need of major repairs that they will have to deal with and pay for once they purchase it. And some lenders will not approve a home loan unless the foundation repairs are made. Should you choose to sell the home as-is, you most likely will need to lower your price substantially and find buyers who are looking to flip homes in order to sell your home quickly.
Don’t DIY your foundation repairs
Properly repairing foundations is not something the average person can do. We receive calls regularly from people who have tried to repair cracks and gaps themselves but find that what they have done is not enough. You need professionals trained to handle foundation problems to come in and do it right the first time. The longer foundation problems are left untreated, the worse they get and the cost to repair them increases.
Whether in West Jordan, Woods Cross, Brigham City, or St. George, the Davenport Foundation Repair team handles sinking foundations every day across the state of Utah. Our highly trained foundation specialists can assess your home and sit down with you and discuss what your options are. They can also discuss financing options available, including 60- and 90-day same as cash plans. Call to schedule an estimate with one of our experts, and get the most value for your home.