Due to the weight of your home and the soil/dirt composition around the foundation, settling of a few inches is fairly common and not cause for concern. Some small cracks in your garage concrete, foundation walls, or basement floors are completely normal. But if these cracks widen over time or your foundation walls begin to bow inward, you discover space between crown molding and the ceiling, or if your floors become uneven, then you should have your foundation inspected by a structural engineer. This can cost hundreds just for the inspection, let alone repairing foundation issues can be tens of thousands.
Even though foundation issues can be livable, most homebuyers are terrified of owning a home with foundation issues as minor as they can be because of the possible costs associated with correcting them.
What to do
Few things can derail the traditional sale of your home like foundation issues during an inspection. Many times a broken foundation can go unnoticed by a homeowner, but if you do know your home has foundation issues, selling can be a daunting task. You must always disclose foundation issues when you are selling your home, and a failure to do so can result in a costly lawsuit once the buyers do discover the problems.
The situation is worsened by the fact that many mortgage lenders will not approve a home loan unless all foundation issues are fixed prior to closing- and this can leave you as the seller, out of time and options if you want to keep the deal.
If you have lost a sale because of foundation issues, or have discovered that you will need to make costly repairs in order to sell your home- call us. At Hampton Roads Cash Home Buyers, we buy your home as-is, and on your schedule. We are not scared of foundation issues and will take it upon ourselves to repair the home while making you a cash offer. No more stress, no more worrying about being stuck in a home that is a burden to fix.