Selling a Home With Foundation Issues

Foundation issues don’t need to be the death knell for your home sale dreams. Here’s how to make it happen.

‘Foundation problems’ are two words guaranteed to strike fear and dread into the heart of any homeowner. They’re especially hard to hear if you’re planning to sell your house – surely, prospective buyers will be put off?

While there’s every chance some buyers wouldn’t take on a house with a cracked or sinking foundation, you can still sell your home just as it is, and see what happens. If not, you could also spend some time and money getting the foundations fixed before putting the house on the market.

But then, which is the best course of action? Selling a home with foundation issues or fixing them first?

First up: Spotting the problem

If you suspect your house has issues with its foundation, there are certain signs you can look for:

• Doors that don’t close properly
• Doors and windows that are out of alignment
• Cracked windows
• Windows that are difficult to open
• Sloping floors
• Cracks appearing in walls or ceiling
• Water in the basement
• Noticeable cracks in the basement

If you’ve noticed one or more of these issues cropping up around your property, they could indicate a serious structural problem. While the building may not be in any immediate danger, foundation problems are off-putting to buyers because they’re expensive and time-consuming to fix. Most buyers want a home that’s move-in ready.

If you suspect your home foundation might be cracking but can’t be sure, you may also want to think about bringing in an expert structural engineer to assess the damage. A callout could cost up to $1,000, but it’s a worthwhile investment.

Sell or Repair?

The first thing to remember is that whether you decide to sell as is or repair the foundations first, you should always be upfront with any potential buyer about the foundation problem.

It may seem like a no-brainer to just fix the problem and get on with listing your home for sale. However, what you may not know is that any repairs you make are a matter of public record. This means that potential buyers are informed of the problem before they’ve even viewed your home and may be put off. If you don’t even get a chance to talk to the buyer, you won’t be able to explain that you’ve repaired the issue.

If you really don’t want to fix it before the sale, you can frame foundation issues as a good thing. If you’re prepared to discount your home, which would usually need to be by about 25%, that can attract buyers as the cost of repairing a foundation will be much less.

Fixing the foundations before you sell has benefits. Most home buyers prefer a home that’s ready, and will be less keen to purchase a home that they have to do a lot of work on. It costs both time and money.

Whatever course you decide to take, foundation issues don’t have to be as terrifying as they sound. You’ll be in your brand-new dream home before you know it!