TLDR: can't stop considering this house that has the perfect lot and location but has an obvious big foundation issue even after previous repair, has gone pending twice and back on market. Very attractive price. What is the worst that we could be in for if we go for it?
OK... we are located in central Texas. You can't talk to anyone about foundation issues here without hearing "it's not if, but when" and that basically everyone should expect at least a small foundation issue at some point. The thinking there is that it shouldn't be an absolute deal killer. We are selling and then buying and, as everyone else, doing it in a small window of time. We have found a house in our desired location with basically the perfect lot. The price was a little on the high end initially, and when we went to see it it was very clear immediately upon walking in that there is a foundation issue due to sloping floors. In fact, a group went in after us with an agent and we saw them leave immediately. That said, we've seen a recent inspection (which said something along the lines of "no foundation issues" which is laughable). It is on a slab and there is also a previous foundation repair, however only 18 piers installed which seems like a really small amount. It is under warranty, but of course I won't count on that. It has gone pending twice and back on market, with price drops each time. It is a one story with a slightly sloping lot. In addition to the sloping floor in the hallway, here are some other red flags: pool right in the middle of the lot seems to be out of level, probably old vertical crack in masonry in location of previous repair, installed humidifier (as in not just temporary) in an added on room (maybe an old garage conversion), very large empty lot next door at the end of the slope - like super super large and no houses (this is in a neighborhood of large lots, but this is out of the norm, definitely wondering what used to be there but not sure how to find out).
The price now is just really attractive and clearly someone lives there and the house functions. What is the worst that we could be in for if we choose to pursue and get more interested? Obviously we would be having a consulting engineer out, but I also expect surprises even with that and just want to know what other people have experienced. We still have a lot going on with selling our house and some family stuff, so we were going to wait another month before really going down this road, but this house could be worth it. Any cautionary tales?
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source https://www.reddit.com/r/RealEstate/comments/oay2vw/what_is_the_worst_that_could_happen_with/
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