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Updated almost 6 years ago,
Bulging Foundation on an Accepted Offer
Just completed the inspection on my first accepted offer SFH in Bethlehem PA. Inspection biggest finds were a bulging section of the stone foundation and a bowing beam in the cellar both cause slight (but noticeable) slanting of stairs and floor on main level.
My main question at this point is who is responsible for the cost of fixing the problem? Me or seller or to be negotiated? And if negotiated how do I go about it?
Some background:
- I made the offer without inspecting the house, but basing myself on my agent photos and impressions (I live 2.5 hours away and market is quite hot so had to act quickly). Being a regular MLS listing there was no AS IS clause to the best of my understanding.
- House is about 100 years old and other then these problems require lots of cosmetics but in decent shape otherwise.
- During the inspection I saw a disconnected downspout just above the area where the bulging is occurring. Seller is an out of state and based on the condition of the place was not to engaged in keeping it up. Inspector didn't noticed it but I had him add it to his report.
- Going to have an engineer and contractor coming to give their opinion and hopefully a repair estimate, but in my mind the damage is more likely caused by deferred maintenance such as the downspouts and lack of gutter cleaning than the age of the house (saw already about 12 houses in the same neighborhood, all with stone foundation but none seemed to be in such condition.
- My inspection period is ending in a week? What happen after if me and the seller don't reach agreement as for who's responsibility it is to fix the problem?
Being so far from the property and it being my first major rehab I already figured a high cost for the work so adding a possibly 15-20K to it will be a very taxing.
Other then that I'm happy with this house and feel it has a good potential and wouldn't like to walk away from the deal (already lost 3 offers in the same place due to quicker and higher offers by others).
Any advice?