House Inspection... big problem.

[mmmmm...beer 807]

Woof... so first inspection on the house in the Vancouver, WA area with the nice yard came back with standing water in the crawlspace. Undisclosed, sellers have had the house 4 years... freaked. Had a 2nd crawlspace expert inspect and his bid came back tonight.

 

$11,200 to fix the crawlspace with french drains!

 

Wholy moly.... I think the sellers are going to freak.

 

Our fix list with this on it goes to them tonight. They now know about the standing water, but this 11k to fix it is going to be a punch in the gut for sure.

 

My realtor out in WA was at the second inspection and chatted with the seller a little... he was pretty sad he didn't know about it. He said 4 years ago he had a lady inspector. She went into the crawlspace and relatively quickly came back out saying it was all good. When we got it inspected it had been pretty dry so that water had to have been in there for awhile.

 

I feel bad for them, but at the sale price, they're gonna make 120k in 4 years off this house.

 

If they come back saying they just want to drop the price 11k and have us fix it, deals off. I'm not doing it.

[jerryskids 6,800]

Woof... so first inspection on the house un the Vancouver, WA area with the nice yard came back with standing water in the crawlspace. Undisclosed, sellers have had the house 4 years... freaked. Had a 2nd crawlspace expert inspect and his bid came back tonight.

 

$11,200 to fix the crawlspace with french drains!

 

Wholy moly.... I think the sellers are going to freak.

 

Our fix list with this on it goes to them tonight. They now know about the standing water, but this 11k to fix it is going to be a punch in the gut for sure.

 

My realtor out in WA was at the second inspection and chatted with the seller a little... he was pretty sad he didn't know about it. He said 4 years ago he had a lady inspector. She went into the crawlspace and relativelt quickly came back out saying it was all good. When we got it inspected it had been pretty dry so that water had to have been in there for awhile.

 

I feel bad forbthem, but at the salenprice, they're gonna make 120k in 4 years off this house.

 

If they come back sayingnthey just want to drop the price 11k and have us fix it, deals off. I'm not doing it.

 

Why? What else do you expect them to do?

[mmmmm...beer 807]

 

Why? What else do you expect them to do?

Get it fixed... take it from the profit from their house. Good luck getting a buyer to buy into a house with water under it problems not fixed prior.

[Djgb13 2,339]

Get it fixed... take it from the profit from their house. Good luck getting a buyer to buy into a house with water under it problems not fixed prior.

Don't blame you there. I wouldn't want to buy a house that I immediately have to fix something on it. They need to do all the work and get it up to par to sell

[cyclone24 1,913]

Don't blame you there. I wouldn't want to buy a house that I immediately have to fix something on it. They need to do all the work and get it up to par to sell

No question. Cosmetic stuff..understandable. standing water? Noooo way in hell.

[DankNuggs 305]

Have them take the risk on fixing it, you got a large estimate that very well shift based on what they end up having to deal with.Is it just a typical French drain or are they connecting it to a sub slab drain as well. Is it water table issues or grading issues that also need to be addressed if there are areas where the grade slopes towards the house

 

Should you go forward I'd demand a mold test. Standing water in a crawl space can have compounding effects over time

[SUXBNME 1,506]

Get it fixed... take it from the profit from their house. Good luck getting a buyer to buy into a house with water under it problems not fixed prior.

This

[mmmmm...beer 807]

Have them take the risk on fixing it, you got a large estimate that very well shift based on what they end up having to deal with.Is it just a typical French drain or are they connecting it to a sub slab drain as well. Is it water table issues or grading issues that also need to be addressed if there are areas where the grade slopes towards the house

 

Should you go forward I'd demand a mold test. Standing water in a crawl space can have compounding effects over time

Quote says "install 250 linier feet of french drain in crawl space. Install drains through concrete. Will need to grade dirt in areas to ensure water enters into french drain. There are two drains in crawlspace at low point, both will need blackflow. Outside by the garage has standing water and is very soggy. Need to install drainage on the side to tie into gutters."

 

Ob they are very big on checking for mold or mildew. None noted from either inspector.. thank goodness. Thats like the first thing they look for around Portland.

[SUXBNME 1,506]

Is the foundation slab?

[mmmmm...beer 807]

Is the foundation slab?

uhhhh. dunno.

[DankNuggs 305]

Quote says "install 250 linier feet of french drain in crawl space. Install drains through concrete. Will need to grade dirt in areas to ensure water enters into french drain. There are two drains in crawlspace at low point, both will need blackflow. Outside by the garage has standing water and is very soggy. Need to install drainage on the side to tie into gutters."

 

Ob they are very big on checking for mold or mildew. None noted from either inspector.. thank goodness. Thats like the first thing they look for around Portland.

Have then tie all the gutter downspouts into the drain system and add a sump pump in the crawl space since they will be mucking around there anyways.

[DankNuggs 305]

uhhhh. dunno.

Is the crawl space a concrete floor or dirt/gravel? Believe you said it was concrete since they will be coring it for the drain

[mmmmm...beer 807]

Is the crawl space a concrete floor or dirt/gravel? Believe you said it was concrete since they will be coring it for the drain

I think dirt... drains need to go through wall?

[DankNuggs 305]

I think dirt... drains need to go through wall?

Oh that's easier then. Nix the sump pump then, but I'd still tie all the downspouts into it and figure out if there is any other reason it's getting water. Maybe try to get under there during a rainstorm

[BunnysBastatrds 2,445]

 

Why? What else do you expect them to do?

Let it be someone else's problem.

[Mookz 1,348]

How can it be a crawlspace if the water is standing?

 

 

[SUXBNME 1,506]

How can it be a crawlspace if the water is standing?

 

 

How can it be a driveway if all you do is park in it?

[mmmmm...beer 807]

They have until Thursday evening to respond.

[TimmySmith 2,782]

Where is water coming from? If it's coming from outside you need more than French Drains. If it's coming from inside you need a sump pump as well, which I assume you already know.

[mmmmm...beer 807]

Where is water coming from? If it's coming from outside you need more than French Drains. If it's coming from inside you need a sump pump as well, which I assume you already know.

Outside... landscaping issue will need fixing.

[Bert 1,128]

Welcome to the Money Pit!

 

Look at the bright side, it is better than anywhere in Minnesota.

[TD Ryan2 316]

Let it be someone else's problem.

make them fix it or take the money off the sale price to get it fixed yourself...

 

it's not an easy decsion - you certainly don't want to deal with the headache but, consider this:

 

you've identified the problem and gotten estimates on what it will cost to fix it.

if you leave it up to the seller to take care of, he will go the cheapest, easiest, fastest way out he can... and it may still pass "inspection"... the bottom line here is that IF you are going to buy the house, the problem IS yours and you should do everything in your power to take control of it and be sure it is remedied properly.

 

Examples: I've seen this type of stuff with septic systems... the seller "fixes" the issue, the septic system "passes" but a year or so later, there are problems because the "fix" was short or shoddy - just enough to pass inspection... and sometimes the townie seller, townie contractor, and townie inspector all know eachother and the buyer is left with no leverage or recourse.

 

just giving you the other side to think about here...

[penultimatestraw 473]

As someone who has spent over $100K on foundation repairs, I'd be very wary of water in the wrong place. Even if the seller agrees to foot the bill, I bet the repair will take longer and cost more than expected.

 

There are plenty of other homes in the sea.

[TimmySmith 2,782]

Outside... landscaping issue will need fixing.

Yeah, now I don't get the french drains. Proper landscaping and grading could fix the issue at half the cost.

[Kanil 520]

Bail on this one man... The risk is not worth it.

[parrot 789]

How can it be a crawlspace if the water is standing?

 

 

[vuduchile 1,945]

Tough call, but that's a huge red flag.

 

I'm aIso of the opinion that this repair could be more costly or maybe even just a band aid solution that doesn't really address a more serious problem.

 

I also don't put it past contractors to low ball a bid to get the job and then start throwing change orders for unforeseen circumstances at you after your yard is half dug up.

 

The current HO will almost assuredly be finding the cheapest way out of this.

 

I'd start looking at plans B and C

[RLLD 4,233]

120k profit after 4 years? Absurd.....

[edjr 6,598]

Is the foundation slab?

 

slab is balls backwards

[edjr 6,598]

120k profit after 4 years? Absurd.....

 

BIL/SIL just bought a house for 445.

 

3 beds 2 baths 1,862 sqft

 

 

Seller paid 315 in 2013

 

 

 

 

DATE EVENT PRICE AGENTS

07/18/16 Listing removed $445,000

07/12/16 Price change $445,000-3.2%

05/12/16 Listed for sale $459,900+46.0%

02/18/13 Sold $315,000+10.9%

03/21/12 Sold: Foreclosed to lender $284,000-18.8%

12/17/11 Listing removed $349,900

12/03/11 Price change $349,900-6.7%

11/27/11 Price change $374,900-2.6%

10/17/11 Price change $385,000-3.4%

09/15/11 Listed for sale $398,500+513%

09/01/94 Sold $65,000

 

[RLLD 4,233]

Sickening, its the very notion that this is acceptable that helped foster idiotic notions that led to the great recession....

[DankNuggs 305]

120k profit after 4 years? Absurd.....

its less than 10% a year after buying a foreclosure during a pretty robust real estate boom coupled with a decade of historically low interest rates... A 30-yr is sub 3.5% right now. Can't have much better conditions

[RLLD 4,233]

10% growth is absurd, from 1900 to 2012 the annual home value increased an average of 3.1%, just slightly better than the 3% annual inflation rate during that period. This notion that homes should increase at 10% is insane...

[DankNuggs 305]

10% growth is absurd, from 1900 to 2012 the annual home value increased an average of 3.1%, just slightly better than the 3% annual inflation rate during that period. This notion that homes should increase at 10% is insane...

Markets are cyclical. Its like a Sin wave. On AVERAGE they increase 3%. At the peak of a boom they will be up 7-12%, and at the trough of a recession it may be -1-5%

[RaiderHaters Revenge 4,353]

I bought my house in 2013 for 238k, its now worth 404k

[edjr 6,598]

I bought my house in 2013 for 238k, its now worth 404k

 

 

did someone pay you 400k for it?

[RaiderHaters Revenge 4,353]

actually same exact house just sold 4 houses down for $399k except the only difference is that they don't have a patio cover or landscaped backyard. I have a 2200 sqft covered patio with electrical and fans, and 25 fruit trees, and a 5000 sqft lawn

 

so I actually think the estimate is low based on the comp that just sold

[IGotWorms 4,058]

10% growth is absurd, from 1900 to 2012 the annual home value increased an average of 3.1%, just slightly better than the 3% annual inflation rate during that period. This notion that homes should increase at 10% is insane...

I agree, it is crazy.

 

Not sure what the answer is an individual trying to make the best choice for my family. Should I sell my house now at its peak? But then I'm buying some other more expensive house at its peak. Sell and get out of homeownership altogether? That might make some sense depending on the rental market but I don't want to be somebody's focking renter. Hold my house and miss out on gains from a hot market but at least not end up underwater from buying a new house in the hot market?

 

It's hard to know.

 

If I didn't hate the idea of renting smart move might be sell, reap the profit, rent for a few years and then buy again after the inevitable crash. But then you're trying to time the market and that can be foolish as well.

 

Fock it, I'll go back to sissy slap fights with my b1tch cyclone.

[TD Ryan2 316]

'01 the housing bubble started

'07 to '08 it crashed

'09 to '11 it staggered to and bounced on the bottom

'12 the housing market started coming back

'16 we're getting to "bubble" levels again

 

forget "markets" and "cycles" and all that babble/jargon... people simply cannot afford these prices with wages where they are.

low interest rates are the only thing making it possible for middle class people to even consider buying an "average" home.

[DankNuggs 305]

I agree, it is crazy.

 

Not sure what the answer is an individual trying to make the best choice for my family. Should I sell my house now at its peak? But then I'm buying some other more expensive house at its peak. Sell and get out of homeownership altogether? That might make some sense depending on the rental market but I don't want to be somebody's focking renter. Hold my house and miss out on gains from a hot market but at least not end up underwater from buying a new house in the hot market?

 

It's hard to know.

 

If I didn't hate the idea of renting smart move might be sell, reap the profit, rent for a few years and then buy again after the inevitable crash. But then you're trying to time the market and that can be foolish as well.

 

Fock it, I'll go back to sissy slap fights with my b1tch cyclone.

Housing isn't a strictly financial exercise...You have to live somewhere and quality of life and happiness has its own value.

 

Where i live rents are crazy expensive, housing as well, there isn't a good answer. I've had many conversations with people contemplating selling their house, but they want to stay in the same town and buying in town is crazy expensive.

 

If you are comfortable and in a solid situation and not in need of more or less space just let it ride. Refinance again and lock in the lowest 15,20,30 year rate you can. You'll laugh in 5-10 year at how great it was to get a 3% loan