To Buy or not to Buy with Foundation Issues?

Question

Hi BP Community,

I found a great location with an old SF unit built in 1950. 100k, 2 bd 1 ba, 725 sq. ft. Went to see it in person and it looks like the house sits crooked and there's cracking on the stucco near the foundation.

Would any of you all take a look at these photos and let me know if possible repairs are even worth it on a property like this one? Everything I have read says to stay away from possible foundation issues, but I am new to all of this and am wondering if a low price tag would be worth investing more money into the property to fully repair.

Any advice on value, to buy or not to buy, repair cost for foundation issues etc. would be greatly appreciated.

Thank you!

-Paul

Conner Olsen · Answer

@Paul Sanchez Where is the property? Ask the agent if foundation issues are common in that area. I know in Texas 1/3 of houses have some sort of settling so it's not that big of a deal if it's minor, but if you're in the midwest you should stay far away from anything with foundation issues.

Chris Seveney · Answer

only way to get accurate numbers is to get an engineer out there to look at it.

Joshua Young · Answer

@Paul Sanchez get a structural engineer out there to take a look, foundation issues can be a major concern and not worth the risk. PM me and I can shoot you local some recommendations.

Carini Rochester · Answer

Not enough info in these pictures to make a judgement. My brother lives in oklahoma. He tells me that almost every house in his area gets jacked up and has new piers pushed into the ground. There are companies in the area easy to find that have this expertise. Because it's so common, prices are reasonable. If you are in an area where there are contractors familiar with this and it's a fairly common problem and solution, then move forward.

Also, does the floor actually slope toward the failing foundation? This may just be a problem with the stucco finish and not a foundation issue at all.

Paul Sanchez · Answer

Thanks @Carini Rochester. There is definitely a slope. Appreciate the help.

Paul Sanchez · Answer

Thanks @Conner Olsen. Property is in New Mexico. Appreciate the help.

To Buy or not to Buy with Foundation Issues?

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