Selling a house with foundation issues is a significant challenge in itself. Foundation problems can range from minor cracks to severe structural issues, impacting both the value and salability of your property. In this detailed guide, we explore everything you need to know about selling a house with foundation issues and how to navigate this complex situation.

Understanding Foundation Issues

Foundation issues frequently arise due to soil movement caused by temperature fluctuations, water levels, and weather variations. But how can you determine if your home is experiencing foundation problems?

Begin by conducting a visual inspection of your home’s exterior. Position yourself at a corner and examine the walls. Are they uniformly straight, both vertically and horizontally? Use a level along the walls to identify any protrusions or tilts. Additionally, be on the lookout for:

Cracks or gaps in the walls, concrete, bricks or masonry

Chipping slabs.

Walls pulling away from the home.

Warped siding.

Hairline cracks — those less than 1/4-inch — aren’t usually a major cause for concern. However, don’t discredit them completely. Keep an eye on them for any changes and consider filling them to avoid water damage. Look for large, horizontal or l-shaped cracks, as these may signal a problem.

Now inspect the home’s interior. Here, you’re looking for tell-tale signs of structural damage such as:

Misaligned windows and doors.

Windows that won’t shut or have cracks in the glass.

Sloping floors.

Cracks in drywall.

Can I Still Sell My Home Despite Foundation Issues?

If your home has been diagnosed with foundation damage and you’re planning to sell, you’re probably concerned about how it will affect your ability to profit from the sale.

It’s important to note that some lenders may hesitate to approve mortgage loans for homes with foundation issues, potentially discouraging buyers from making offers.

The main challenge when selling a house with foundation problems is deciding whether to repair the issues or sell the property in its current condition.

Should I fix my foundation before selling?

If you discover any issues, it might be prudent to have a professional inspect your foundation. If the inspection reveals structural compromise, you have the option to repair it before selling, though it’s not always mandatory.

The cost of a foundation inspection typically ranges from $300 to $600.

Foundation repairs can be quite expensive. For most homeowners, addressing foundation issues costs between $2,143 and $7,493. Major repairs, such as using hydraulic piers, can exceed $10,000. Minor crack repairs may be as low as $500.

Some homeowners may decide that the investment in foundation repairs isn’t justified by the potential benefits.

Selling your home without fixing the foundation is possible, but you may need to adjust your asking price accordingly. However, the savings on repair costs could offset any potential reduction in sale price, particularly if the damage is significant.

Explore these options to carefully determine which decision is right for you

Option 1: Address Foundation Issues

Start by assessing the extent of damage. If your home displays L-shaped cracks or significant masonry separations, it may indicate substantial foundation problems. Horizontal cracks exceeding 1/4-inch in width also signify severe damage.

Consulting a structural engineer can provide a professional evaluation of required repairs and estimated costs. Undertaking these repairs upfront may alleviate concerns for potential buyers, demonstrating proactive maintenance.

However, for many homeowners, the average expense and complexities associated with foundation repairs can be prohibitive. Extensive damage may necessitate costly repairs, often exceeding available budgets.

Furthermore, foundation repairs can be time-consuming. Whether homeowners are relocating, retiring, or accommodating growing families, they often prioritize selling their homes swiftly.

In such scenarios, selling the property as-is may be the most practical solution.

Option 2: Sell As-Is

If you’re unable or unwilling to invest thousands of dollars in repairing foundation damage, it will likely reduce your home’s value, necessitating a lower asking price to accommodate repairs.

Choosing to sell as-is can save you considerable time and money by allowing the buyer to address the issue themselves. It’s essential to disclose any foundation damage upfront to your agent and potential buyers—hiding such issues can lead to complications during the inspection process and may jeopardize the sale if discovered later.

Buyers may also face challenges securing financing if significant foundation problems are uncovered post-offer acceptance.

Instead of navigating the traditional market, consider working with a professional home buyer. These companies purchase homes in their current condition, including those with foundation issues.

Once they evaluate your property, they’ll present a cash offer and allow you to close at your convenience—often within as little as seven days if you need to move quickly.

Professional home buyers assume responsibility for all repairs and renovations, factoring these costs into their offer. This arrangement relieves you of the financial burden of repairing the foundation and eliminates the risk of the buyer backing out before closing.

Experienced home buyers specialize in purchasing homes as-is, offering a straightforward solution regardless of your property’s condition.

Conclusion

Selling a house with foundation issues requires careful planning and transparency. By addressing problems proactively and working with experienced professionals, you can successfully navigate the complexities and achieve a favorable sale. Honesty with potential buyers is crucial for a smooth transaction and to mitigate future liabilities.

Illinois Real Estate Buyer is committed to providing an offer for your home, regardless of its condition, relieving you of the need for repairs or upgrades. Even if your home has foundation issues, we will purchase it as-is and handle necessary repairs after closing.

If you prefer to avoid the expenses of repairs and transition to a new home, Illinois Real Estate Buyer can ease your burden.

We conduct a brief walk-through of your property to evaluate its condition. Following our assessment, we can present a same-day offer. Rest assured, our offer remains steadfast throughout the transaction.

With Illinois Real Estate Buyer, you won’t encounter commissions or hidden fees. We accommodate your schedule and can close the deal swiftly—in as little as seven days—to facilitate a prompt move. Contact us today to schedule a walk-through and begin the process.