Selling Your Tennessee Home With Foundation Issues
Buyers typically want a turnkey home. Having a foundation issue can be a huge turnoff for potential buyers. There are all sorts of problems that could have caused the foundation issue. Is the house settling? Is there an issue with the soil? What’s the difference between the horizontal cracks vs. vertical cracks? Either way it can be tough selling a Tennessee house with repairs needed. We’ll take a look at these problems, what they indicate and solutions for these issues.
Should you spend the money to make repairs prior to selling your house? Can you sell your house with existing foundation issues on the open market through a real estate agent? Should you sell your house to an “as-is” cash house buyer? Keep reading for more information on each of these options and the advantages and disadvantages of each.
Horizontal cracks are usually the result when the wall bows in some way. This usually comes from external pressure.
When a house is built they dig out the soil to lay the foundation then use the same dirt to back-fill around the foundation. It is usually looser than the dormant soil that was left untouched. The loose soil can absorb more water and will exhort more pressure on your foundation.
Water is one of the few things that expands when it freezes. The soil filled water is heavier and then expands from freezing and can cause additional pressure on your foundation. Depending on the severity and location of pressure, it can cause your walls to buckle. This foundation should be addressed immediately in order to mitigate expenses and protect your house.
Vertical cracks are fairly common, even appearing in newer homes. Typically this is a sign that the house has moved slightly as it settled. Homes often swell and compress throughout weather variations and this can cause cracks in your drywall and your foundation. If it is just a small crack, then you may not have anything to worry. However, if it begins to grow in width and length then you might have a serious foundation issue. Either way, it is smart to call a professional to inspect the issue and determine if it needs to be addressed.
Stair Step Cracks
Diagonal or stair step cracks are usually caused when your home is experiencing a mixture of both settlement and soil pressure. If the outside temperature changes quickly, your foundation can experience additional hydrostatic pressure. Hairline cracks are typically not a major issue, but it’s always a good idea to consult a professional. They can patch up the crack or address any underlying problems.
Can I Sell My House With Foundation Issues Through A Realtor?
IMPORTANT: Foundation issues must be disclosed in writing to a buyer. Making quick cosmetic repairs without proper remediation with the intent of concealing foundation issues for the purpose of selling your house will likely result in a law suit and your liability for all repairs when eventually discovered by the buyer.
Depending on the extent of the foundation issues, it is still possible to sell your house through a realtor. However, all damage and known problems must be disclosed to potential buyers. This will decrease your buyer pool significantly to people who are willing to take on those projects.
Another thing to be aware of is that if there are significant repairs needed, the home may not qualify for most traditional home buyer loans, making it even more difficult for buyers to purchase your home.
All of these factors together often cause a home to sit on the market for much longer and sell for a significantly lower price.
With New Horizon, you can sell your house fast without having to make any repairs, fix any structural issues, or deal with wary buyers you may encounter selling on the open market. You may end up having to pay for the repairs yourself before you can even sell the house to a conventional buyer. The benefit to selling to New Horizon is that it’s Fast & Easy. We take care of all the difficult issues so you don’t have to.
We Buy TN Houses With Foundation Issues
New Horizon Home Buyers is a local home buying company in Chattanooga, TN. We buy houses 100% As-Is in Cash. We can buy your Tennessee house (even with foundation problems) and handle all the hard work so you don’t have to. If you want to sell your house in Chattanooga, get your No Obligation All Cash Offer today.
Our selling process is 100% free. Even if you are unsure of what you want to do, I encourage you to reach out for a free offer on your house. You have nothing to lose.
“Erik and Jessie were really easy to work with. They were fair and honest negotiating the deal and made the whole process simple! Highly recommend New Horizon!”
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