Foundation Repair Costs - A Home Buyer's Biggest Fear?
Discovering foundation issues during an inspection can derail the sale of a home like few other things. Even worse is the fact that the signs of a broken foundation are subtle and often go unnoticed by a homeowner. Unlike a rapidly flooding basement or chipped paint on a wall, the signs that your home may require foundation repairs are all too easy to ignore. Foundation issues build up over time, until one day you finally notice the cracks in your basement or the uneven floors in your house. By then it may already be too late.
And while the symptoms of a broken foundation may seem relatively harmless, rest assured they are far from it. Foundation repair is a big job that can costs tens of thousands of dollars.
Even though a home with foundation issues may still be livable, home buyers are far from receptive. They are often terrified of the prospect of taking on a home once they learn how much fixing a foundation can cost.
Home inspections occur after a house has gone under contract. Because of this, many buyers become desperate to have the repairs taken care of ASAP. The only alternative is a significant price reduction to cover repair costs. Sellers – who have been living in the home for years with no problems – may harbor resentment since they feel as if they are being taken advantage of for a problem that didn’t seem too serious to them.
To top it all off, many mortgage lenders will not approve a home loan unless all foundation issues are fixed prior to closing. This translates to the seller having to pay out of pocket if they want to keep the deal alive. Unfortunately, many do not have thousands of dollars on standby to make the needed repairs.
The aforementioned disagreements can lead to a contract termination for the seller. It is no surprise that sellers report foundation repair costs as the number one factor that prevents them from selling their home.
Problem Signs That Lead to High Foundation Repair Costs in St. Louis Area Homes
- Cracks in the Walls, Doors, and Windows
- Dank basement odor
- Bowed basement walls
- Gaps between crown molding and the ceiling
- Insects problems in basement
Selling Your St. Louis Home To We Buy Ugly Houses To Avoid Foundation Repair Costs
We Buy Ugly Houses has been in the business of buying and selling houses since 1996. Over that time, we have become the No. 1 buyer of houses across the country. If you are interested in selling a house in St. Louis please don’t hesitate to contact us today!
Not only do our St. Louis home buyers close quickly and pay cash for homes, we specialize in buying houses that need work and won’t shy away from a home with structural problems. If you’re concerned that buyers won’t be interested in your house because it needs work, give us a call to see if we can help.
When we buy a house:
- We pay cash
- We pay most, if not all standard closing costs
- We buy “as-is” — no repairs, cleaning or repainting required from the seller
- We close fast
Learn about We Buy Ugly Houses® and see for yourself why we are America’s #1 Home Buyer!
Fill out the form above or call us now at 866-200-6475.