What Happens When a Home Has Foundation Problems?
When you’re buying a home, one of the most important things to check is the foundation. If it’s not stable, that can lead to a lot of expensive repairs down the road. This guide explains what happens when a home has foundation problems and what your options are.
What Are Foundation Problems, and What Causes Them?
The foundation of a house is what supports the entire structure. It’s important that it is level and stable, otherwise, the walls and roof can start to sag or crack. There are a few different things that can cause foundation problems:
- Soil expansion and contraction: This happens when the soil around the foundation expands and contracts due to changes in moisture.
- Poor drainage: If the soil around the foundation doesn’t drain properly, it can cause the foundation to settle or even wash away.
- Tree roots: The roots of trees can grow under and around the foundation, causing it to crack or shift.
- Shrinking clay: Some types of clay will shrink when they dry out, which can cause the foundation to settle.
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What Are the Signs That a Home Has Foundation Problems?
There are a few different signs that you can look for to see if a home has foundation problems.
- Cracks in the walls: If you see cracks in the walls, that is a sign that the foundation is shifting and needs to be repaired.
- Gaps around doors and windows: If you see gaps around doors and windows, that means the house is no longer level and needs to be fixed.
- Sagging floors: If the floors are sagging or uneven, that is another sign of foundation problems.
How Much Does It Cost to Fix Foundation Problems?
The cost of fixing foundation problems depends on the severity of the damage. For minor cracks, you may only need to do some sealant work, which can cost a few hundred dollars. However, if the damage is more severe, you may need to replace the entire foundation, which can cost upwards of $10,000.
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Walking Away from a Home with Foundation Problems
If you’re interested in buying a home but find out that it has foundation problems, you may be better off walking away from the deal. Foundation repairs are expensive and can be very time-consuming. It’s often easier and less expensive to simply find a different home to buy.
Usually, the problem is first discovered by a home inspector – but for many people, that means they’ve already put down an earnest money deposit and hired the inspector. The deal is already underway.
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Will You Get Your Earnest Money Deposit Back if You Decide Not to Buy a Home With Foundation Problems?
If you’ve already put down an earnest money deposit and decide not to buy the home because of foundation problems, you may be able to get your deposit back. It depends on the contract you signed with the seller. You should review the contract carefully or have an attorney do it for you to see if you’re entitled to a refund.
If the contract says that the sale is contingent on a satisfactory home inspection, then you may be able to get your deposit back if the inspection turns up foundation problems. However, if the contract doesn’t have that contingency, then you may be out of luck.
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