When Buying a Home, Look Out For Foundation Issues

When buying for a house it can be both enjoyable and difficult. The plan is to locate a place that is in exceptional condition and fits your living needs. One of the most significant concerns for many is that the property that you purchase is structurally sound. Check out these recommendations about how to spot probable problems when viewing homes with your real estate agent. Some realtors offer a VIP Buyer's Program.

Watch out for these red flags

When heading out to open houses and showings, watch out for the following signs of foundation problems. If you’re looking at properties built more than ten years ago, pay extra attention to damaged foundations.

Outside: What to look out for

• Horizontal cracks
• Stair-step cracking
• Gaps around windows and doors
• Sunken stairs or porch

Inside: What to look out for

• Misaligned windows
• Hard to open doors and windows
• Drywall cracks
• Cracked tiles
• Ceiling cracks
• Separation between walls
• Separation between ceiling
• Moisture in the basement

If you observe these any of these indicators, do not instantly rule out the property. Research the issues that you discovered so you have a lot better comprehension of the situation. Bear in mind that some situations will only require small repairs, while others can be quite complicated.

Weigh out the pros and cons:

• Ask the seller questions about the foundation. Find out if there has been an inspection or repair work done in the past. Sellers are required by law to disclose foundation issues.
Get a home inspection by a professional that specializes in foundations.
• Do an analysis of the potential cost of repairs to assist you to determine a fair offer price.
• Check with your bank to find out if these foundation issues will affect your financing.

When you are going to make an offer, it is advised to work with a professional realtor. A real estate agent will make certain your offer is drafted up with contingencies that will safeguard you if things go wrong. They may use contingencies will make your offer dependent on particular conditions, including inspections or repairs.

Mike Bolger, Sales Rep
Chestnut Park Realty Southwestern Ontario Ltd.
The Shops at Waterloo Town Square
75 King Street South, Unit 50
Waterloo, ON N2J 1P2
+1 (519) 616-2656 



Popular posts from this blog

Avoid These First-Time Homeowner Mistakes

Spring Cleaning Tips 2019 by Mike Bolger - Chestnut Park West

Consider Investing into Multi-Family Properties in Waterloo