Dallas-Fort Worth Real Estate Investor Club

Foundation repair

  • 15 Oct 2010 2:05 PM
    Message # 444740
    Deleted user

    Hey guys/gals,

    I have a property I'm looking at that's in great condition, has been fully rehabbed, but the out-of-state seller can't sell it because the VA inspector found one side 4" lower than the other, so that deal fell through.

    At this point, I want to get some idea of what it will cost to lift the one side.  I've called Straightline, but I likely wont be able to get access to the home for the estimate until next week.  So I was hoping some of you, who've had to go thru this before might be able to give me an approximation of how much this will cut into the deal?

    Just looking to see what some of you have spent, in experience.  Thx.

    Brian

  • 16 Oct 2010 6:53 AM
    Reply # 444991 on 444740
    Deleted user

    Brian,

    I have done literally hundreds of rehabs over the last 8 years and many of them had foundation problems. With the info you have given, there is no way to accurately guestimate the costs.

    That being said, if the house is in Tarrant County, TX, it is a single-story home that is less than 2,000 SqFt., AND it is actually the foundation (as opposed to a slab leak), it is rare Straightline Foundation cannot fix it for less than $15,000 (usually much less).

    One thing I would suggest you factor into your numbers is that lifting a house 4" usually involves breaking pipes. Repairing those can add a lot of extra cost FAST (i.e. $1,500 - 2,500+ / per break).

    If there is anything else I can help you with, please don't hesitate to let me know.

    -Greg Wilson ("The REI Mentor" - www.reimentor.com)

     

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