I think I’m In a Tight Spot

[Andrew Smith]

All the rain has caused havoc with the foundation of my flip house. Two contracts have fallen through because of inspectors saying the foundation is bad. In all honesty, the foundation isn’t shot, but the rain has caused some shifting that shows up when measurements are done. I am pretty sure once everything clears up things will shift back to (relative) normal. This has killed two deals in the past week though.

The bad side is, I am bleeding right now because of holding costs. I am going to have the foundation company come out and see what can be done under warranty. If that doesn’t work, I’m out of options. Any suggestions about how to get this taken care of if the company that holds the warranty won’t do the work?

[J Scott]

if there are no issues with the foundation, then simply pay a structural engineer to come out,write a report and stamp It. Let your buyers know that a licensed structural engineer has evaluated the foundation and that there are no issues and provide them the report.