Inspected a home built in '74 yesterday in an area known to have expansive soil. This note from the buyer’s agent was in today’s e-mail:
Kenton:
Thank you for your good work.
Just a note, that we will be terminating the contract to buy this property. In reading this inspection, I’m supporting the Buyers in this decision. This is a good story about why we have inspections before closing transactions.
Again, thank you.
What amazes me is when you talk to the builders in expansion soil areas, is that they are aware of the probelms caused by expansion soils but still build the foundations the same way. Then claim that failure of foundations are common.](*,)
Widespread severe horizontal mid-wall cracking in the poured concrete foundation wall appeared to be consistent with damage caused by lateral pressure. Cracking was deep and included displacement.
The home was located in an area known to contain expansive soils. Expansive soils are those that expand greatly in volume in response to increased moisture content. Expanding soils can easily damage concrete foundations.
You should consult with a structural engineer before the expiration of your Inspection Objection Deadline to discuss the potential need and options for stabilization.
If the deal is off the table what eventually happens with a property like that? The seller has to remedy the problem? what if the bank owns it? just curious
As I said earlier, it gets patched and then re-listed.
There are several banks that are now giving credits at closing as long as they are the ones doing the financing on the bank owned properties. Or, they will increase the loan amount and give the buyers a check at closing.