Home Buying in Irving>Question Details

Leon, Home Buyer in Irving, TX

We live in the area famous for soil movements. We had our house checked 4 or 5 years ago and there was no foundation problem found. We are considering

Asked by Leon, Irving, TX Mon Oct 22, 2012

selling the house in the near future, should we

1. Have the house checked again for foundation problems? There are some cracks on the wall which were there since we bought the house.
2. If foundation repair is recommended by the foundation company and we have the repair work done by a reputable company, will this impact my resell value?

Thanks.

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I would have a 3rd party engineer look at your home - he isn't trying to sell you a foundation job while a foundation company is doing just that. Then, when you have his results, if correction is needed, you take that 3rd party report to several foundation companies to bid. You'll save a lot of money in the long run, far more than the $300-$350 it will cost you for the engineer. My latest example is for a home in Irving - 3 bids, one at $18,000-one at $10,000 and one at $6,000. The money you'll pay the PE for an assessment is worth it's weight in gold don't you think?
0 votes Thank Flag Link Sun Oct 28, 2012
Leon: I've been in Irving since the '60's. Live the area, know it well. I can put you in contact with companies who are very reputable & honest. They will assess your foundation free of charge. Call me & I will share information and facts with you. Dianne Cartwright realtor
Ebby Halliday 214-797-4700
0 votes Thank Flag Link Mon Oct 22, 2012
Thanks Dianne. I will let you know if we need to pursue with foundation check.
Flag Mon Oct 22, 2012
Irving area is known for these issues . RECOMMEND have a warranty transfer to the new buyer. Irving / Las Colinas / Valley Ranch are amazing area(s) homes are purchased.

I would feel honored work with you list your home for sale.

Contact my office today where I can offer further assistance

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer
972-699-9111
http://www.lynn911.com

Follow me on Facebook
http://www.facebook.com/lynn911dallas
0 votes Thank Flag Link Mon Oct 22, 2012
Thanks Lynn.
Flag Mon Oct 22, 2012
Leon,

You don't need to disclose foundation issues if you don't believe you have them. You will disclose "settling", and you could attach any documentation that supports this in the event that one or more of the foundation companies provides a written opinion that the foundation does not need repair. Worse case is that you spend $500 for an engineer's report to know for sure.
0 votes Thank Flag Link Mon Oct 22, 2012
Thank you Brent! This is very helpful!
Flag Mon Oct 22, 2012
Hi Leon,

It will be great and pro-active on your part to have your foundation inspected by a reputable company. Make sure they offer tranferrable warranty so you can pass it along to your buyer.

Also you should fix the cracks on the wall since they will be a issue on the apprisal that lender might not approve a home loan due to cracks on the wall.

Please let me know if you need help putting your home on the market. I would able to walk you thru each steps.

Thanks

Dixon
Realtor
JP and Associate
http://www.findyourtexashome.com
0 votes Thank Flag Link Mon Oct 22, 2012
Thanks Dixon!
Flag Mon Oct 22, 2012
Thank you all for answering my question. If I have multiple companies coming in to check the foundation and I got different answers from them (since they may have different opions or they may not be equally honest), do I need to disclose all of their reviews in the seller disclosure? Thanks.
0 votes Thank Flag Link Mon Oct 22, 2012
It is correct that Irving is famous for soil movement, but other areas of DFW have problems. If you have been taking care of the foundation (watering and proper drainage) Then I would not have a foundation company out to look at it unless there are more issues other than minor cracks. Examples would be cracks in the slab, cracks in brick or gaps around exterior windows or doors.
Having a reputable foundation company that will have a life time warranty on the work they do will not hurt your resell value. Many times it helps because it gives peace of mind to the buyers, although the buyers need to understand the warranty only covers the piers that they installed and not any new piers it may need in the future.
0 votes Thank Flag Link Mon Oct 22, 2012
Thanks. If two foundation companies come in and give me different opinions, do I need to disclose both in the seller disclosure?
Flag Mon Oct 22, 2012
Good morning Leon,

Given the area that you live in that is prone to soil movements, I do recommend that you have a reputable foundation company come to look at it. There are several foundation companies that you advertise locally. Most are reputable and provide transferable warranties (which is important to your buyer).

If foundation repair is recommended (I suggest getting up to 3 different companies to look at it), the impact to your resell value will be nominal. In fact, I believe that by being proactive, you will minimize the impact of the visible cracks when attempting to sell. Buyers in our area are concerned about any cracks, even if they are "just" settling cracks.

I'm very happy to visit with you about your plans and the best strategy to obtain the highest price should you decide to sell. There is certain documentation that will be important for the prospective buyers as they decide to purchase your home. Let's talk about this more. Give me a call this morning or feel free to text me anytime at 214-808-3100.

Brent Rice, Top Recommended Broker
The Rice Group, Inc.
brent@ricegroupinc.com
Website: http://www.ricegroupinc.com
24 years of experience working for you!
0 votes Thank Flag Link Mon Oct 22, 2012
Thanks Brent. If two foundation companies come in and give me different opinions, do I need to disclose both in the seller disclosure?
Flag Mon Oct 22, 2012
Leon, I commend you for trying to address any potential problems your home may or may not have before you sell it. So many try to sell their home without giving these types of things any thought. I will say if those cracks you mentioned have not changed in the years you have been there more than likely they are just settlement cracks. You could probably hydraulic cement those cracks and be fine. I think if there is a problem the buyers inspections will probably find it so it is best to have any issues addressed before hand. This could save you money down the road as price reductions for buyers concerns can be eliminated. I don't feel that doing the necessary maintenance on your home will effect your resell value negatively.
0 votes Thank Flag Link Mon Oct 22, 2012
Thanks Darrell. If two foundation companies come in and give me different opinions, do I need to disclose both in the seller disclosure?
Flag Mon Oct 22, 2012
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