Finding a foundation problem gives the buyer significant leverage, as the seller is legally required to disclose the issue to future potential buyers. Negotiation strategies include:
While daunting, buying a home with foundation issues can be a calculated risk. If the repairs are documented, warrantied by a reputable company, and the purchase price reflects the necessary investment, a previously "failed" foundation can sometimes be made stronger than the original construction. Should you buy a house with foundation issues?
: Using an inspection contingency allows a buyer to walk away without losing their deposit if an agreement on repairs cannot be reached.
: If the home is deemed a safety risk, the property may be ineligible for standard financing.
: Uneven, sloping, or "wavy" floors are clear signs of settlement.