Foundation Inspection Tips for Buyers and Sellers of houses
Buyers:
Read your house inspector's report very carefully. . If there is the slightest indication of a foundation issue, call us for assistance. We will give you a fair, unbiased assessment of the property.
Examples of some of the warning statements in a home inspection report:
- Some evidence of settling
- Foundation movement exceeds FHA/VA standards
- For its age, the foundation is relatively flat
- Slab appears poured out of level
- Cracks in brick/floor/wall/ceiling
- Fascia/trim separation
- Stuck windows or caulk separation at windows or doors
- Foundation is performing its intended function (keeping the roof off the ground??)
Almost every Granite Foundation repair includes a Level B foundation report by a registered professional foundation engineer. Don't get snookered by a Level A report, which is written in more general terms and may occasionally gloss over foundation problems. Remember that the house inspector's role is to identify functional foundation problems and not cosmetic foundation problems.
Sellers:
Granite can typically complete a repair within 1-2 days.
FHA/VA and conventional approvals are no problem when the foundation is properly repaired.
The best way to avoid last minute closing problems is to have the foundation inspected before you put the house on the market. We will be pleased to assist with a confidential, Comprehensive On-Site Evaluation.
If you are owner financing the sale:
You may sell the property without foundation repairs as long as you disclose what you know about the foundation. Homes that need foundation repairs generally sell at a discount far below the cost of repairs.
If you are selling to a buyer with FHA or VA financing, you must provide the following:
- Full disclosure of past foundation repairs and foundation problems must be provided. It is the law. As most cities require a permit for foundation repair, most foundation repair activity is legally recorded.
- If sale of the house is within one year of foundation repair:
- Structural evaluation by registered engineer
- Plan of repair if needed by registered engineer
- Engineering inspection during repairs
- Post inspection approval letter by engineer
Conventional Financing Requirements:
Conventional financing lenders require a house inspector's report that the house is acceptable and may require a registered engineer's report for any past repair. If repairs are needed, the lender may require repair prior to closing along with engineering validation of the repair.
Granite Foundation Repair has a wide range of solutions to fix foundation problems in cities including Mesquite, North Richland Hills, Arlington, Flower Mound, Garland, Rowlett, Plano, Carrollton and the Dallas - Fort Worth surrounding communities.
