FHA 203K - Water in the basement... what do I do?
Yesterday I had a customer submit to me a Proposal from his contractor
showing work to be completed for a "wet" basement. (keep in mind,
there was no standing water even after a big rain, just moisture on the
block foundation walls) [ sorry friends in the south, I know... you
don't have basements].
This 'Proposal' showed detailed work to
include, excavating exterior wall, re-tar exterior block wall, install
exterior drain tile (fed INTO the house - sump pump... DUMB!),
re-parage interior wall, install interior french drains and new sump
pump.... etc.. etc...
Seems pretty cool, right? $23,000.00!!!! UN . REAL!
Any warranty? sure... 1 year.
This is NUTS!
You just wouldn't believe what contractors are trying to get away
with. This basement does NOT need all this for a bit of moisture on
the walls, in a vacant foreclosure home that probably has grading
issues, downed gutters and nothing a nice can of drylock can't
handle... WORST case, interior french drains w/ a new sump pit...
Ummm... $5,000.00 or so???
Oh yea, with a LIFETIME warranty... that is more like it.
Here is the skinny folks: DO THE DUE!
Check with your SPECIALISTS when you are vetting this out. This
particular contractor in the above proposal was a General Contractor,
and was probably just marking up some specialists proposal. GO TO THE
PEOPLE THAT KNOW THE WORK. You will get better prices, better
products, better service and better results.
My advice for this client was to do nothing, extend his due
diligence, do to the fact of discovering moisture, vet local waterproofing companies. Guess what???? Saved him over $15,000.00. ;)
Go out, buy houses, make them your own... MAKE EQUITY! :)