I-beam coming through concrete basement wall

[Matt R.]

Hello all!

I looked at a house recently, here in the Kansas City area, and noticed something on the outside basement wall.  Some of the concrete has fallen away, and the ends of the I-beam (that holds up the joists in the basement) are visible from outside the house.  Is this bad?

I haven't been able to look inside the house yet; I may do that early next week.  I didn't notice any other big cracks in the parts of the basement walls I could see, but most of them are below grade and I can't see them from the outside of the house.  I was just wondering if this is a "run away screaming" kind of thing or not.  :)

More background: The house was built in about 1972.  The basement is roughly 50 feet by 25 feet - two-car garage in one half, living area in other half.  The house is on the side of a hill - not on the top, but not in a low spot, either.  I don't know how long it's been like this; it's been at least long enough for somebody to repaint the outside of the basement wall, and paint over the cracked concrete and the end of the I-beam.  However, this may have been done in the past few months, as the house was being prepped to sell.

Here is a picture, in case that helps.  I just showed the detail for one end of the I-beam, but both ends of the I-beam are visible through their respective foundation walls.  There are also three steel columns supporting the I-beam, spaced fairly evenly throughout the basement.

Thanks!

Matt R.