Should I Fix My Basement Leaks Before I Put My Home on the Market?

Should I Fix My Basement Leaks Before I Put My Home on the Market?

Posted by Flexomeric on 4/12/2015

Sometimes, home sellers ask “why should I fix this problem now?” Any unfinished work done to the home will continually need to be repaired until the problem is fixed permanently. It is clear that the issue of a defective foundation is going to have to be dealt with. Fixing the problem now, can avoid potential buyers becoming hesitant to purchase the home.  In addition, if you decide not to repair the problem in advance, the overall potential buyer pool may be diminished due to the uncertainty of the foundation.

 

Realtors have all told us that they have been forced to reduce the price of a home that has a foundation defect or in need of basement crack repair in order to move forward with a sale. By not fixing your foundation up front, it may cost you more money in the long run than what it costs to fix the actual foundation problem. If you don’t repair it before selling your home, you will limit the number of potential buyers.

 

A home inspector will find the basement defect during the inspection. Now, which could cause the buyer to back out of the deal. Then you have to start again with open houses, leaving your house for showings and keeping your home in a condition for showings. A home inspector, to cover himself, may request the services of a structural engineer to the tune of thousands of dollars when the problem can simply be fixed for quite less. 

 

Once the buyer applies for a mortgage, the bank will send out an appraiser to access value and condition of your home. If the appraiser notes on his appraisal report that there is a basement waterproofing issue, the underwriter for the mortgage will require that the problem to be repaired or want the opinion of a structural engineer.  This opinion may cost more than the cost of the repair. This delay in closing on the sale of your house may create unnecessary stress on you, your family, the buyer, and the broker.

 

The most common problems home inspectors target during their inspection are foundation wall cracks, temporary lally columns, foundation floor cracks, leaking bulkhead and leaks around pipes. For most small crack repair jobs, Flexomeric is the perfect application for usage.  If you have any questions or inquiries, please contact us, or call our excellent customer service team at Toll Free: 1-855-236-5566

 

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