Alright, here's the situation: My husband and I have been looking for a repo house to by for a bit now and we found one that we both like, in a good neighborhood, good price, etc... We are going to bid on it in an auction so we don't have the whole offer subject to inspection. If we get it, we get it and any problems it may have.
We have been to look at the house several times... but only from the outside (the auction is at the courthouse and you don't get to see the inside).
Here's what we know about the house:
1. It is around 12 years old.
2. It is a concrete slab but has cinder block around the outside base.
Here is what we perceive to be a problem:
1. The front porch is concrete and seems to be sloping forward slightly. Signs of this are cracks at base where porch meets house and base of windows have pulled away from calking around window.
2. In back of house there is a small hole (6 inches wide) where cinder block has broken.
3. If you look at slope of dirt etc, it seems that water is draining right into the house rather than away from it.
Now if we get the bid, we will probably be getting it at $30,000 under the price of what other houses on the street have been selling for, so we plan on putting some money into the house, but I am just nervous that we will end up with a money pit. My husband has been trying to get in touch with a foundation specialist, but they seem to be hard people to reach.
We assume we can get the porch fixed if we are told it is necessary for about $5000. I am not worried about the cracked cinder block, however, I am just wondering if water draining into a house for 12 years can cause significant damage or if it is just something we would want to correct ASAP.
If anyone can give me any advice on the issue I would very much appreciate it as the auction day is drawing near.
Thank you so much!