While the foundation isn’t the most thrilling part of home—you’re probably much more excited about the walk-in closets, or your planned décor for the master bedroom—it is one of the most critical components of the structure. Even issues that don’t look that significant may quickly become big headaches. Tiny cracks or leaks might be minor but can sometimes be deceptive, as they may be hiding larger issues that aren’t as obvious. There’s no way to really know what you’re dealing with until it is closely evaluated. Often, this will happen as part of the home inspection.

There’s no way to estimate the cost of foundation repairs until you know exactly what the problem is. Tiny cracks caused by normal settling can usually be covered with some simple patching. You may also need to resolve any drainage issues that may be causing flooding that leads to cracks. On the other end of the spectrum, major foundation issues could require significant repairs or possibly even a total replacement of the foundation, which can come with hefty costs.

This isn’t a task for amateurs. Have the foundation checked by a home inspector or structural engineer. You want the peace of mind of knowing the issues are handled by a qualified professional. Plus, your insurance company or lender may require official documentation proving the issues were resolved.

A foundation problem is one of the most intimidating things you can encounter when buying a house. If you agree to buy a home after foundation issues have already been detected and documented, you are assuming the responsibility (and cost) of addressing those issues. You cannot later try to hold the previous owner accountable. Also, you may not be eligible for certain types of financing such as government-backed loans, which require that the home be structurally sound and free of major issues. On the upside, you can use this as a major bargaining chip to renegotiate the price.

If you hope to sell a house that has foundation issues, you have some options to consider. You could try to fix the issues before listing the home, but that means you have to invest some money (perhaps a lot) out of your own pocket. And the repair history will be part of the property’s record, which might discourage potential buyers before they even look at the place. Many sellers opt to just disclose the foundation issues in the listing, but most likely that will mean you’ll need to adjust the price accordingly. Depending on the size and scope of the problems, you may be able to try and shift the focus to the upside—for example, the buyer could also add a finished basement or a mancave while they are having the foundation fixed. The best choice for you as the seller will depend on a number of factors, including the local market, the degree of foundation issues, and how quickly you hope to sell the property.

About Empire Appraisal Group, Inc.

Establish in 2005, Empire Appraisal Group, Inc., is Broward County’s leading residential appraisal company as a result of their accurate and reliable appraisals, excellent customer service, and quick turn times.  When working with an appraiser, integrity and professionalism are essential, and Empire Appraisal Group has a well-established reputation for providing the best appraisal experience.  Daniel Lindeman, the Chief Appraiser, is considered one of the top property appraisers in Florida, with nearly 15 years of expertise and 7,000+ appraisals to his credit.

We ‘specialize’ in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO’s and more.

We also work closely with realtors to help establish listing prices, these pre-listing appraisals ensures sellers get top dollar for their home.

In addition, to homes of all shapes and sizes, we also appraise condos, multifamily homes, boat docks, land, as well as specialty properties. No job is too big or too small, from manufactured homes to mansions.

Call Empire Appraisal Group directly with any questions concerning your real estate values at 561-441-9298.  Also, check out our ‘Reviews’ page and see what others are saying about Daniel Lindeman and Empire Appraisal Group, Inc.

We provide residential appraisal services to all cities in Broward County:  Parkland, Coral Springs, Coconut Creek, Dania Beach, Cooper City, Davie, Deerfield Beach, Fort Lauderdale, Sunrise, Hallandale Beach, Hillsboro Beach, Hollywood, Lauderdale by the Sea, Lauderdale Lakes, Lauderhill, Lighthouse Point, Margate, Miramar, North Lauderdale, Oakland Park, Pembroke Pines, Plantation, Pompano Beach, Sea Ranch Lakes, Tamarac, Weston, Wilton Manors.