Finding out that a home has foundation issues is not an uncommon occurrence. This is especially true of Texas because of the highly expansive clay soils. The main cause is too much moisture or not enough.
Signs of damage include brick veneer cracks, wall cracks, fascia board separation, cracks in the flooring and uneven or hard to open doors. You might find these issues while you are touring a new home or just in your existing home. The good news about these issues is that your home isn’t alone and the foundation can be easily fixed.
Most everyone thinks that if you are trying to buy or sell a home with these issues that this is a deal stopper. Well….Not true! This is actually a quick and easy fix….roll the cost into your new loan and the actual repairing of the foundation takes only a few days!
Far too often I hear realtors say that their client found the perfect home but it had foundation issues so they walked away. Instead of walking away there is a very simple solution use the FHA 203k renovation loan or an escrow holdback program to purchase the home and fix the underlying issues. In fact, the FHA 203k rehab loan allows for the the buyer to customize the entire home to their liking. So instead of just a singular repair….how about a full kitchen renovation and maybe updating the bathroom or adding hard wood floors?
Selling a home with foundation issues? No problem…just market it as FHA 203k eligible and let your buyer renovate the home to their specific taste!
Working with a reputable foundation company as well as a knowledgeable lender is the key. Homes with problems or updating needs don’t have to scare you away. Often these are great homes in need of some TLC.
Give me a call today and let me tell you just how it all works!