Foundation problems lead to failed home inspection

Foundation problems lead to failed home inspection

Once I found a buyer for my home, I started looking ahead to the pay-out at closing. It took awhile for me to realize that accepting the offer of a potential buyer doesn’t ensure the sale. There are multiple issues that need to be resolved along the way. The biggest hurdle was the home inspection. At the time, I wasn’t totally aware how an inspection works or the possible problems that can arise. In Jacksonville, Florida, a home inspection requires a licensed, third-party inspector to assess essential features of the home. The inspection encompasses the heating/cooling system, roof, plumbing, electrical systems, foundation and various interior and exterior components. An inspection verifies that all major systems and appliances operate properly. The inspector looks for damage, safety hazards and health threats. Specialized equipment is used to detect moisture, poisonous materials and electrical concerns. A detailed report provides the findings and whether or not the property has passed or failed inspection. The inspection revealed foundation issues with my home. It was determined that cracks on the exterior walls of the home could allow moisture and pests into the living environment. There was the potential for floors to warp and walls to collapse. According to the home inspection, the stability of the home was at risk. Because of the concerns with the foundation, the potential buyer was unable to secure funding from the bank. The home wouldn’t qualify for either insurance or a mortgage. I reached out to a contractor for an estimate, and the repairs were extremely expensive. I didn’t want to sink that amount of money into a house that I was moving out of. Rather than deal with foundation problems, I decided to sell my home through a cash buyer. I chose a family-operated cash home buyer that is local to Jacksonville, Florida.

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