Proper disclosure can prevent headaches later, especially when it comes to costly foundation problems.
Have you ever fallen in love with a property, only to find out later that it has a major flaw you didn't notice at first? It's easy to overlook things when the house looks great on the surface. But there’s one issue that could cost you thousands—and that’s hidden foundation problems. Let me share a story from my experience to show you why proper disclosure is everything in a real estate transaction.
The warning signs that were missed. I was helping a buyer with a property that looked perfect from the inside. The fresh paint, new fixtures, and everything else seemed to be in good shape. However, I knew the area had a history of foundation issues, and something didn’t sit right with me. Sure, the interior had been renovated, but there was no way to tell what might have been happening underneath. So, I recommended an inspection, just to be sure.
Inspection reveals a serious issue. When the inspector arrived, he used a specialized tool called a zip level to check the foundation. The results were shocking. The home had sunk by three and a half inches in the front corner and had foundation damage that was affecting the sewer line. Water was even pooling in the sewer pipe. This wasn’t just a small crack; it was a major problem that would cost thousands to fix.
Seller’s reluctance to fix it. I immediately presented the inspection report to the seller and requested that they rectify the problem. What happened next was frustrating. Despite being fully aware of the issues, the seller refused to make the repairs. They were hesitant and resistant to addressing the problem, leaving my buyer with no choice but to walk away from the deal.
“Foundation problems can sink a deal if not properly disclosed.”
A missed opportunity for the next buyer. A few weeks later, I saw the property marked as “pending” again. I was curious, so I reached out to the title company to find out if the issues had been addressed.
They didn’t respond, but after some digging, I discovered that the new buyers had received a completely different report, one that claimed there were no foundation problems at all. The seller had never disclosed the real issues, and now the new buyers were facing the same hidden costs I had uncovered.
The lesson: always disclose foundation issues. This experience highlights the importance of transparency in real estate. If you’re selling a home with foundation problems, you must disclose them. Buyers need to do their homework and follow up on any potential red flags. Foundation issues don’t go away on their own, and ignoring them could leave you stuck with a huge repair bill.
If you’re buying or selling and need help with disclosures or foundation concerns, don’t hesitate to reach out. I can help you avoid the mistakes others have made. You can contact me directly at 512-587-4050, [email protected], or visit my website at Savvy Real Estate Group. Let's make sure your next real estate deal is smooth and stress-free.