Foundation issues on on BRRRR!

[Stephanie Kern]

Hello fellow BRRRR people! I am looking at a house right now and all the numbers line up but it has some significant foundation settling. My biggest fear is that I go through the process of repairing but then a lender won't lend due to the foundation. Has anyone had any experience with this? Thank you in advance!

[Kurt Brauner]

Stephanie,

I am familiar with the property that you have posted. This would be an extreme expensive to repair the foundation on that property . Although the MLS states that the property was built in 1979 and further settling is unlikely I would be wary of that claim. I have in the past purchased numerous homes in Pahrump that have had foundation issues, mostly from banks, and sold them as tear downs. All of the homes in Pahrump built before 2002 were not subject to building codes that required soil samples and engineering report. The reason the foundation is sinking is unstable soil and have the foundation repaired will be a temporary fix.