Condo With Possible Foundation Issues
Hello Gardenwebbies, I am looking to purchase an 850 sq ft condo after living in a 600 sq ft condo for two decades. I am extremely wary of foundation issues because many buildings at my present location have cracks in the walls, ceiling, and sidewalks. Not to mention doors and windows that do not close properly. On top of that, the management and board do not seem to think that this is a high priority, and have taken no preventative measures. Also the property is adjacent to the "Medical Center" and that means ambulance sirens and helicopter fly overs. After looking at real estate listings for a few months, I decided on this particular unit in a nice gated complex with 1-car garages. Today was the day of the home inspection, and as I entered the complex to meet the inspector, noticed some workmen working in trenches around one building. I asked them what they were doing and was informed that they were repairing the foundation. That was of course a red flag, but then it was not the building where my prospective unit was located. I went over to the unit and met the inspector and he began talking into his voice recorder "gutter too close to building, no flashing around chimney, tree root lifting sidewalk, stair rail loose" etc. Of course his job is to check every little thing, but I was completely alarmed. Then we got inside but the power had not been turned on by the seller, as it was an empty unit. Nicely remodeled I should add, granite counter, glass backsplash, new appliances, laminate floors. The only thing they didn't get to was the tub and surround which is a disappointment. In case anybody is wondering they're asking $75K. That is about average; price per sq foot is about $100 give or take here in south texas. My question is, should I be concerned that one building in the complex has foundation issues? Should I be relieved that at least they are tending to the problem unlike at my present complex? Is that to be expected in a 34 year old property? The funny thing is that it is on completely level ground, whereas my present condo complex is on a hill. That makes little difference I am sure. I have 7 days left to back out of the contract, and since the power wont' be on until 3 or 4 more days so it is cutting it close.