With the housing market on the rise for 2021 and possibly 2022, selling a house is as easy as it gets this year. However, the question remains, can you sell a house with foundation problems?
Fact – it is possible to sell a house that has foundation issues.
First, you must determine what the foundation issue is before learning how much it will cost. Then, you can ask yourself if it’s even worth selling a house with foundation problems. What are your selling options? How do you go about it?
In this article, you will discover everything to learn about selling a house with foundation problems.
Determining Foundation Issues
Some people mistake normal settling as foundation issues. However, if the settling damage is not fixed, settling will lead to further severe problems resulting in foundation issues.
Settling problems exist when:
- Floors in the basement seep
- Framing and wall alignment is off
- Cracks in the walls – especially the basement
- Exterior cracks
- Windows and doors stick
Foundation problems are :
- Foundation has cracks
- Interior wall cracks
- Basement floors are sinking
- Windows and doors are severely tricky to open and close
You will run into foundation problems at some point in a house’s lifetime, especially if it is old. The leading causes of foundation issues are improper foundation placement, water damage, unsuitable plumbing, and too dry soil.
Settling problems and foundation issues can look very similar, so how do you tell? Take a walk around the exterior and interior perimeter of your house and try to spot the following;
- Bulging areas horizontally on the foundation
- Water damage in concrete
- Rotting wood
- Cracks larger than ¼ inch width in size
- Bulging or slants in floors
- Ensure all doors and windows are easily slidable and closable
- Moisture or mold surrounding the crawl space
- Pipe leakage
- All supports, beams, and piers must be level
Also, look to see if the foundation is shrinking or expanding, which will look like either bulging or misalignment. Luckily, there are many signs to look for when determining whether or not you have a foundation issue. If these signs exist for long periods, the cost to fix the foundation is very expensive, so keep an eye out for:
- Gaps under doorways
- Caulking expansion
- Doesn’t level or flat
- Floors are not level
- Uneven door and window frames
- Unlevel baseboards
- Poor insulation (where cracks are)
- Musty smells
- Sagging ceilings and floors
If you are still unsure, it is always best to call a professional for help and advice. Also, a professional will give you a quote on any repairs.
The Costs of Foundation Repairs in TX
Depending on what part of the foundation is damaged and how extensive the problem will depend on the cost for repair. Homeowners will spend up to $12,000 to repair the foundation. However, the cheapest cost for a minor fix is as low as $500 – $1000. Breaking it down from cheapest to most expensive:
- Foundation cracks
Cracks and leaks are minor repairs and can often be done yourself by filling holes or replacing caulking/mortar. Cracks will range between $250 – $800, while a leak costs up to $7,000.
Sinking or sagging happens over time as the house settles. Prices for sinking foundations can become pretty expensive – each pier ranging from $1000 – $3000. On top of pier replacement, mudjacking can be as high as $1,300.
- Shrinking or expanding walls (bowed walls)
Bowing repair is perhaps the most expensive replacement due to carbon fiber and steel reinforcements ranging from $1000 each. Depending on how many you will need, the price can become a significant headache.
- Don’t forget the seal!
After most foundation repairs, you’re going to have to seal the project to protect the repair from water damage, drainage, and moisture. Sealing starts at $2,000 and ranges up to $7,000.
Don’t let these numbers scare you. A typical foundation estimate in TX is approximately $5,000, and don’t expect to spend any more than roughly $10,000. Everywhere you go, prices may differ depending on whc=ich company you get quotes from and where you live.
The prices mentioned above are an average calculator for Dallas, Texas. Most reports cost between $300 and $800 for inspection. Keep in mind labor fees as well if you opt to call in a professional.
Should You Repair Foundation Issues Before Selling Your House?
Repairing foundations before selling may increase house and property value. However, is it worth the time, money, and patience? First, consider the severity of the damage, and then take a look at your buyer pool. If you choose to repair foundation issues first, there are things you should consider:
- Look at the extent of the damage
After inspecting (or hiring an inspector), you need to ask yourself how much will repairs cost? After crunching numbers and thorough research, consider questioning how much you can sell your house after repairs. Also, before doing any repairs, consider how much your house is worth as-is – then compare your prices.
Minor foundation issues include
- Cracks of any kind
- The width of each crack
- Cosmetic repairs involving foundation (look and feel)
- Minimal water damage
Severe foundation issues include:
- Bulging of the exterior or interior
- Cracks wider than an inch
- Gaps under or between doorways
- Severe water damage
- Broken pipes
Ultimately it’s your choice to sell or fix first as both are possible.
- Find a professional – get a quote.
Professionals know what they are looking for and will answer any questions you have regarding the topic of their career. You can expect to spend about $300 in Texas for a home inspector.
Most realtors will give you advice for free and not take any payment (fees) unless the house is sold. However, realtors will look at the inspectors’ documents and answer any questions based on the house itself.
On average, a typical laborer or general contractor costs approximately $4000 and more, depending on the extent of the task.
- Will the repairs increase value?
Let’s say you have gotten a quote from each professional, and now you have a general idea of how much your repairs will cost and how much your house will sell for before repairs and after. Is this number within your budget?
The next step is to figure out your take-home pay from selling your house with or without the repairs. What did the realtor say if you’re selling a house as-is? What was the quote after you made the necessary repairs?
Once you have these numbers, you can make a final decision on whether you should sell as-is or make repairs first.
Selling Options for Selling a House with Foundation Damage
Your two options were to sell the house as-is or to fix the repairs and then sell. Let’s take a look at your two options to sell as-is.
Selling Foundation Damaged House As-Is in Texas
When you’re selling your house by yourself, in some cases, if your home has too many extensive repairs, a bank will not give you a loan. If this is the case, you will need to post your listing “as-is – cash only.” Listing the house as-is, foundational repairs needed, will attract buyers willing to put in the work and money themselves to resell.
Selling Directly to Cash Home Buyers
Say you don’t have thousands of dollars to put into fixing foundation repairs. Now what? Cash home buyers and investors are easy and fast to get your house with foundation issues sold.
Finding dependable companies that buy houses in Texas can make the process quick and easy for a fast sale. These types of buyers are either flippers or remodelers. They will buy your house with the budget they have set aside and fix it up themselves to either flip or live in themselves.
How to Sell a House with Foundation Damage in Texas
When you sell a foundation-issue house as-is, you’re deciding it’s best to let potential buyers take on the financial responsibilities of fixing the foundation. One downside to selling to cash home buyers in Dallas is that you may get less for the house than if you had fixed it. However, if you’re looking to sell your house fast in Arlington, this could be a quick and easy option.
You can also take these steps to ensure the most successful as-is selling option:
- Be truthful in your ad
Is the foundation problem severe or minor? Why do you want to sell as-is? Have you done an inspection first? Are you with a realtor or selling by yourself? Add as much detail as you can about what you have done, why you’re opting to sell as-is, and how much foundational repair it will need.
- Highlight the features in the ad
Aside from the foundation problems, what would you consider to be your home’s best feature? Is there a fireplace and central air system? Your ad will attract more buyers if there is potential for what is (or could be) a beautiful house.
- Upon meeting, disclose all paperwork.
Before closing the deal, ensure that you hand them all paperwork about inspectors’ data and quotes. Failure to do so is illegal, and you will get in trouble.
Can you sell a house with foundation problems? Yes, you can. How to sell a house with foundation problems is not as hard as most people believe.
As long as you’re entirely transparent through the listing process and have collected all data from inspections and realtors, you have done your part. All there’s left to do is negotiate a fair price, and voila, you’re ready to say goodbye to your house.