I considered buying a house that had many issues, one of which was a cracked foundation. I'm no longer interested in this house for other reasons, but would like some opinions on how the foundation issue might be fixed and the typical cost involved in case I come across this in the future.
Specifically, if I plan to add a 2nd floor to a house, would the foundation crack be a non-issue assuming that the foundation and exterior walls would have to be rebuilt anyway to support the weight of the 2nd floor?
The house was built in 1920 in earthquake territory. The foundation was poured concrete perimeter stem and basement walls with a dirt floor which is typical of houses in my area. This is from the inspection:
There was a large crack in the foundation stem wall at its juncture with the basement wall on the right side of the house. There was lateral and vertical displacement up to 1/2" observed with a gap between the stem wall and the mudsill. There was an unsupported dirt wall in the subarea, approximately 4' high, and there was some soil displacement at the right front corner of the basement, in the same vicinity of the crack noted above. From MV house