Large Repair Bills
This is a major concern for home owners. There are a lot of items that really add up in cost. These can be a nightmare for people that can’t afford major issues. Whats worst is sometimes these repairs or damage are so bad your house can’t be sold on the MLS. The reason is that your Buyers will not be able to get a Loan on the property. During the inspection period most Banks will not give Loans on houses that need serious repairs. The Banks will consider this too risky, especially will todays low Down Payment rates. Lets talk about one of the major items no one wants to repair.
Sounds scary already right? These can be serious propblems. Even for companies like ours at Bogino Properties these are difficult, and expensive fixes. Repairs for foundation issues can range anywhere from $2000 all the way up to $40,000.
It could be as simple as needing a floor joist replaced, to major cracks on Concrete Slabs. If you have major settlement issues you need to get Structural Engineers involved. And of course permits from licensed and expensive General Contractors. This could mean needing to drill deep underground and inject large support beams. That would raise your house a few inches and need to have a concrete slab re-poured. Then you will need all the flooring replaced and from the house shifting you might need to have all ceiling joists replaced because of the shift. Usually this will cause major cracks in drywall which will all need to be replaced.
Another problem with all of this is that you will either need to Disclose all of this, or list your house “AS IS”. Both of these unfortunately make it very difficult to sell a house on the retail market. These things scare off new home buyers like nightmares.
If you want a free property evaluation, give us Bogino Properties a call anytime at 678-773-7268. You can get your quote in about 24 hours, no obligation. We will be able to give you all your options and work with your situation. Everyone’s situation is different and we will solve your problem the best we can.