Pros and cons of foundation repair before refinancing

[Mazyar A.]

I have recently done foundation repair for my rental property that I bought just recently. I paid cash for the house, and my goal is to refinance it in the next couple of months.

Do you recommend hiring an engineer to evaluate and give a report about the foundation work and submit it to the lender as a proof of the foundation repair? Does the report help refinance easier? Or in the first place, do I really need to tell the lender that there used to be a foundation issue and I have repaired it? I am thinking lenders may look at a past foundation issue as a negative thing even if it has been repaired. The cost of engineering report is $500.

Thanks.