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Updated about 1 year ago, 11/18/2023
Foundation problem? ongoing problem? with 3 repairs within 2 years
I am interested in a house with foundation problems. It's a 1300 s.f house built in 1973, no basement, slab foundation. The document shows that the seller paid $27000 in 2022 for 8 eccentric pier installation, 20 carbon fiber grid stitching, 160 polyurethane injection, and permit, with 25 year warranty. Then in 8/2023, another polyurethane injection for $2000, 11/2023 concrete lifting for $2000, now another bid of $7500 for repair, the note says: Install Carbon Fiber Stitches to repair wall crack. Carbon Fiber stitches are meant to stabilize only. Correction cannot be attempted.
I guess finally the seller had enough of the repair and now put the house on the market for a discounted price.
I don't mind paying for repair, but am concerned about ongoing issues. Do you see any problem with this repair pattern?
It would be a good flip, but I don't want to flip a house then the foundation problems come up in 2 years and drag me to some lawsuit. It can be nice long-term rental as well.