Quote:
Originally Posted by IliketoPuck
Thanks for all the responses everyone.
The wife and I looked at a place over the weekend that we really liked, and had actually started the process of putting the offer together when we found out that the home had a wood foundation.
At that point we decided to hold off and do some additional research. Subsequently we have decided to not go forward with the offer, just too many variables and risks. And the only fix to a rotten foundation would be jacking the house up and spending thousands.
Its a shame, as the home is in an amazing location in a neighborhood we really like.
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Just make an offer that takes into account the potential costs of foundation repair should anything go wrong. You love this house and sounds like it's going to be discounted for this reason. If the buyer accepts keep that money you saved set aside and inspect the foundation every year. Best case you're ahead the cash savings, worst case you end up with a rebuilt foundation.