Lee, Both Buyer and Seller in S.E. Portland

Hi, how hard is it to sell a home without a full foundation?

Asked by Lee, S.E. Portland Wed May 28, 2008

It seems like I have a foundation on certain sides of the house. I was intrested in selling. Is this going to be hard to finance because of this?

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We actually had a situation recently where the property flooded, and when they pulled up the carpet only a portion of the home was on a foundation. A lawsuit shortly followed. It was misrepresented as being on a slab, which a portion of it was so the seller felt they had done nothing dishonest. The buyer felt differently. Was it disclosed to you when you purchased the home? I would find out exactly what your situation is and disclose it to the fullest! Best of luck.
0 votes Thank Flag Link Thu May 29, 2008
I would agree that it is wise to have it inspected first and have an experienced Realtor represent you. By getting an inspection, you know what your options are. Also, a home with an inspection report is very desireable to buyers. I would also take it one step further and have an experienced mortgage person research loan requirements and have some loan programs available to potential buyers, if indeed your foundation is an issue. All this additional preparation will make your sale easier. It may also be cost effective to upgrade any parts of the foundation that are inadequate prior to your sale.
0 votes Thank Flag Link Thu May 29, 2008
Check out http://www.propertyexam.com. He performs an excellent pre-inspection or Sellers inspection and has very good rates. Specializes in SE.

Might require a cash buyer, but you'll know more after talking with an inspector and lender.
Web Reference: http://www.propertyexam.com
0 votes Thank Flag Link Wed May 28, 2008
Lee, it's a special case and I would strongly recommend getting the help of an experienced Realtor with this.

My advice in selling would be to get a home inspection done by a licensed professional and then be FULLY transparent about everything that comes from the inspection. Anything short of this, and you are setting yourself up for some legal headaches down the road.

You can find very good Realtors on Trulia or check out seekingagents.com where you can compare several at once.
0 votes Thank Flag Link Wed May 28, 2008
Maybe Lee.

There has to be some sort of foundation. Either Posts and Piers, block, old stone.....something is there.

I can recommend a good building inspector. This way you have your own home inspection and have a written report. Also you will know any othe rissues that may arise on this home and will know how to deal with them. Do not worry. I am sure whatever the case is you will be able to resolve it.

If you wish to use our services I can get personally involved in assisting you and take a look at it myself. Let me know if we can help.

Regards;

Dirk Knudsen
Re\Max Metro
President
Re\Max Hall of Fame
#1 Re\Max Team in the State of Oregon
503-799-8383
Web Reference: http://www.nwhomcenter.com
0 votes Thank Flag Link Wed May 28, 2008
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