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Updated over 2 years ago,
New Construction w/ Foundation Issue?
Hey everyone,
We're currently considering a new construction investment property that, according to the listing agent, had a foundation issue that has since been repaired and signed off on from a structural engineer. There's a report from the structural engineer that will be sent to us later this week, and if everything checks out and the foundation is fine, is there anything that could come back to bite us in terms of reselling this property down the road?
Since it's a brand new build, is this something that would need to be outlined on a seller's disclosure in the future even though it was remedied before the home was ever sold? I am asking because presumably many things might need to be fixed on new builds before the property is first sold.
Outside of the foundation issue, is there anything else to look for on new builds? Is this a major red flag?
Any thoughts or guidance is appreciated!