Bad Basement or Foundation? Do You Fix It or Sell As-Is?

Bad Basement or Foundation?  Do You Fix It or Sell You House As-Is?
Video Transcription

Hello. My name is Rick Maningas of Best Choice House Buyers. We buy houses in the Greater Milwaukee and Southeast Wisconsin Area. We specialize in buying houses in as is condition, even if they need major or minor repairs, if they are pet odor houses or hoarder houses, any of those type conditions. And even if they have situations such as vacant houses, houses that the owners are going through a divorce or it’s a probate house or an inherited house or bad tenants. We pay cash and close quickly on the houses.

It’s been brought to my attention that there are people who have houses that have major foundation issues, severe cracks in the basements, separation of the basement walls from the foundation, and even to the point where you can see, if you’re in the basement, light coming through the foundation walls from the outside. And the question always is do I have to fix those things, those repairs, and how much is it going to cost?

Well, if you’re going to sell the house through the MLS, you, at minimum, have to put it down in the seller condition report that you have foundation issues. You have to, you cannot withhold that back.  I might stress that should you have a basement that is partially finished, and the unfinished basement has basement issues, but you have walls that do cover the other parts of the foundation walls, odds are you probably have foundation issues there too. And that is not a good situation because in order to repair those walls where they are covered with drywall and two-by-fours and everything else, that has to be eradicated, and the basement walls basically have to be demoed so that the rest of the walls or those damaged walls can be fixed.

The question is do you have to fix those walls before you sell the house? Not really. You can list the fact of the condition of the house, of the walls, in your seller condition report. When you do that, you are going to get a significant price reduction or somebody who’s going to pay significantly less for the property, and you’re going to have to start off just lowering the price from the get go. And odds are you aren’t going to get many showings when it is exposed that you have foundation issues.

The other choice that you have is to sell the house to a professional real estate buyer, such as myself at Best Choice House Buyers, who is very familiar with these types of situations. We have our contractors already lined up to fix these things. And so we are able to buy the house as is, with bad basements and close within 10 business days or less.

So if you have a bad foundation, please call us, let us work with you, give you a quote on your house as is, even if you have other issues with the house, we can work with you and understand your situation and come up with a solution that satisfies everybody’s needs and wants.

Rick Maningas with Best Choice House Buyers. Thank you for listening.

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