Would you buy Lewisville Lakefront home with transferable warranty foundation repairs? (Post: sales, house)

[EcoDeb]

Posting to help a friend, senior citizen, who has had several offers on lakefront home (warranted repairs are in disclosure), sold "as is" but 3 families have backed out due to foundation repairs having been made. Any input and advice is appreciated Thanks in Advance!

[Rakin]

It would depend on what company did the repairs. Many "Lifetime" warranties are good till the company goes out of business. It really does matter about the reputation of the company doing the repairs.

Does she have a clear Foundation Engineer report?

[EcoDeb]

Originally Posted by Rakin

It would depend on what company did the repairs. Many "Lifetime" warranties are good till the company goes out of business. It really does matter about the reputation of the company doing the repairs.

Does she have a clear Foundation Engineer report?

Thanks I'll ask her and post her answer great question

[EcoDeb]

[EcoDeb]

Originally Posted by Rakin

It would depend on what company did the repairs. Many "Lifetime" warranties are good till the company goes out of business. It really does matter about the reputation of the company doing the repairs.

Does she have a clear Foundation Engineer report?

work was done by

Advanced Prolift Foundation Repair

[escanlan]

Originally Posted by EcoDeb

Posting to help a friend, senior citizen, who has had several offers on lakefront home (warranted repairs are in disclosure), sold "as is" but 3 families have backed out due to foundation repairs having been made. Any input and advice is appreciated Thanks in Advance!

If I were the buyer I would look at the following.

• Did the owner have a reputable and independent licensed Engineer perform a full review of the foundation and provide their assessment of what needed to be performed?
• Did the owner follow all of the Engineers recommendations?
• Was all work requiring a permit performed under proper permits?
• Is the foundation repair company reputable?
• Were the waste lines under and outside of the home as well as freshwater lines tested for leaks prior to and after foundation work?
• After foundation work were all waste lines scoped to ensure no damages or distortions existed?
• How many and where were piers placed? I expect from the later picture the piers were placed only around the rear of the home as this is where movement apparently occurred. What are the potentials for additional movement in other locations as reported by the independent Engineer? Any lifetime guarantee by a foundation company is only for the areas they piered.
• What type of piers were used? Not all piers are equal and some piers are better in some situations rather than others. Were the piers appropriate for this location and use? Were they the piers recommended by the independent Engineer?
• What other damage was caused by the movement? Was this all properly repaired, under proper permits as required, and how extensive was the work needed for the repairs?
• Were all of the movement's cosmetic signs repaired after the foundation work? This becomes important because any Engineer or Inspector performing an evaluation can not always tell old from new movement signs. What might have been old movement signs can interfere with attempting to identify if new movement might have occurred and can scare the bejeebers out of a buyer for no good reason.

Unfortunately with the movement related issues we see here if questions are not anticipated they can put a significant wrinkle into the sales process. Add the foundation situation to other issues that might exist in the house and it won't much matter that it is a seller's market. There is a buyer for every house but buyers for any less than desirable house (as compared to other homes) are much farther and fewer between.

[EcoDeb]

Originally Posted by escanlan

If I were the buyer I would look at the following.

• Did the owner have a reputable and independent licensed Engineer perform a full review of the foundation and provide their assessment of what needed to be performed?
• Did the owner follow all of the Engineers recommendations?
• Was all work requiring a permit performed under proper permits?
• Is the foundation repair company reputable?
• Were the waste lines under and outside of the home as well as freshwater lines tested for leaks prior to and after foundation work?
• After foundation work were all waste lines scoped to ensure no damages or distortions existed?
• How many and where were piers placed? I expect from the later picture the piers were placed only around the rear of the home as this is where movement apparently occurred. What are the potentials for additional movement in other locations as reported by the independent Engineer? Any lifetime guarantee by a foundation company is only for the areas they piered.
• What type of piers were used? Not all piers are equal and some piers are better in some situations rather than others. Were the piers appropriate for this location and use? Were they the piers recommended by the independent Engineer?
• What other damage was caused by the movement? Was this all properly repaired, under proper permits as required, and how extensive was the work needed for the repairs?
• Were all of the movement's cosmetic signs repaired after the foundation work? This becomes important because any Engineer or Inspector performing an evaluation can not always tell old from new movement signs. What might have been old movement signs can interfere with attempting to identify if new movement might have occurred and can scare the bejeebers out of a buyer for no good reason.

Unfortunately with the movement related issues we see here if questions are not anticipated they can put a significant wrinkle into the sales process. Add the foundation situation to other issues that might exist in the house and it won't much matter that it is a seller's market. There is a buyer for every house but buyers for any less than desirable house (as compared to other homes) are much farther and fewer between.

THANK YOU for this info I will email this response. I think she should get an Engineer to inspect as well.These are GREAT questions and I'm sure she'll appreciate the input. Have a nice evening!

[TeamLynn]

Also is the problem fixed or just repaired.
When I saw the post I envision this nice lake home I see from 35 overhanging the lake.

If the creep is not resolved....then the problems are not resolved.

But could be something totally different.

Price always wins....I start with....would you buy this home. No it has foundation problems. Would you buy it for $1? Well maybe....then start from there. Obviously she doesn't want to sell it for a $1, but there is a price that overcomes most problems. Would you buy it for $2....$5....$100...$1000....at some point it's still yes, or becomes a no.

[aggie972]

Originally Posted by escanlan

If I were the buyer I would look at the following.

• Did the owner have a reputable and independent licensed Engineer perform a full review of the foundation and provide their assessment of what needed to be performed?
• Did the owner follow all of the Engineers recommendations?
• Was all work requiring a permit performed under proper permits?
• Is the foundation repair company reputable?
• Were the waste lines under and outside of the home as well as freshwater lines tested for leaks prior to and after foundation work?
• After foundation work were all waste lines scoped to ensure no damages or distortions existed?
• How many and where were piers placed? I expect from the later picture the piers were placed only around the rear of the home as this is where movement apparently occurred. What are the potentials for additional movement in other locations as reported by the independent Engineer? Any lifetime guarantee by a foundation company is only for the areas they piered.
• What type of piers were used? Not all piers are equal and some piers are better in some situations rather than others. Were the piers appropriate for this location and use? Were they the piers recommended by the independent Engineer?
• What other damage was caused by the movement? Was this all properly repaired, under proper permits as required, and how extensive was the work needed for the repairs?
• Were all of the movement's cosmetic signs repaired after the foundation work? This becomes important because any Engineer or Inspector performing an evaluation can not always tell old from new movement signs. What might have been old movement signs can interfere with attempting to identify if new movement might have occurred and can scare the bejeebers out of a buyer for no good reason.

Unfortunately with the movement related issues we see here if questions are not anticipated they can put a significant wrinkle into the sales process. Add the foundation situation to other issues that might exist in the house and it won't much matter that it is a seller's market. There is a buyer for every house but buyers for any less than desirable house (as compared to other homes) are much farther and fewer between.

These are all great questions.

fwiw. What I've heard is that a lot of homes in North Texas have foundation issues at some point, and arguably a home that has already had those problems addressed properly (and warrantied) might be better than a home the hasn't been worked on at all. But it makes a big difference to anticipate the questions and do it right, like you said.

[EcoDeb]

Originally Posted by TeamLynn

Also is the problem fixed or just repaired.
When I saw the post I envision this nice lake home I see from 35 overhanging the lake.

If the creep is not resolved....then the problems are not resolved.

But could be something totally different.

Price always wins....I start with....would you buy this home. No it has foundation problems. Would you buy it for $1? Well maybe....then start from there. Obviously she doesn't want to sell it for a $1, but there is a price that overcomes most problems. Would you buy it for $2....$5....$100...$1000....at some point it's still yes, or becomes a no.

Homes near the lake are more likely to have foundation issues...there is greater movement because the water or lack of and the expansive soils in the area.

She has had the foundation repaired and there is a transferable warranty. We sold a home down the street from her some 15 years ago. We sold, by owner, for the going rate as the piers were installed and the house was fine.

Trying to help her as it appears realtors may be afraid for their clients and turning them off to her home.

Appreciate you insight THANKS!