We got our home inspection report back and among all of the other things we know need to be fixed, it pointed out that the house is sitting on a poorly constructed foundation.
Jim isn’t as concerned as I am, he’s confident the house is still a good investment. Me, on the other hand…I”m freaking out. We’re getting estimates on the repairs now.
Today I was just about ready to back out of the deal. Foundation work is expensive. We had to put a foundation under our last house, and it cost in the neighborhood of around $25k.
But then we talked to our realtors. They wanted to help us feel better about our decision (whether we went forward or not), so they helped us come up with a negotiating tactic that might lower the cost. Whether or not the bank will go for our demand is anyone’s guess.
Meanwhile, our realtors dropped everything to spend the entire day with us, and showed us a dozen other properties in our price range. Every single one was a dump, none were as cool as our current one. After seeing the junk we could get with our money, I did feel a little better about the scary foundation report.
At least there aren’t any earthquakes here, right?