I’ve seen this type of thing in other threads. this is not all the way around, but just in this location on the exterior. I don’t know what this looks like on the interior, because I haven’t done the inspection yet, just stopped by to drop the radon monitor off today.
What would you say about exposed wood in the foundation?
BTW, You can’t tell real well from the pic, but the second piece from the right is the only one (just barely) touching the dirt. All the others had at least a quarter inch clearance. What looks like their bottom end, really is.