EDIT: Thanks for all of the info! We’re trying to get more info from the seller, and keeping our fingers crossed for mild issues under 20k to fix. All the info here has been very informative and helpful, thank you!
We are looking at properties right now, and found one that we love the layout of but the listing states that it has “possible foundation issues” which, imo, would not be in the listing if there was not a guarantee of foundation issues.
The house has sat on the market for 4 months. A Google search tells me that fixing foundation issues costs an average of about 2k-7k, which seems suspiciously cheap. Especially considering that this is one of the big red flags I’ve always heard about, even when buying a fixer upper I’ve always heard to make sure the foundation is good… but if it truly costs less than 10k to fix, why would it be an issue?
Can someone ELI5 what would make this an easy fix vs a very costly money pit? We are leaning towards avoiding this property all together, but if we have enough room in the budget to get a Licensed professional out there to fix it, we don’t want to miss what could be a good opportunity.