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rumtim2
May 22nd, 2008, 12:44 PM
My friend became a first-time home owner just about a year ago. Recently she noticed some problems in her basement. One wall (drywall) seemed soft near the bottom. She had a handy friend come in to investigate. The handy friend pulled away the soggy drywall to discover DIRT on the other side. Pulling back more drywall revealed dirt about a foot up from the floor, all the way around 3 sides of the basement. Higher up, there was concrete as you would expect. The house is a semi-detached, so the 4th wall connects to the other house.

It would appear that the basement was lowered by the previous owner, without the benefit of an actual professional. There is no benching around the dug down part. No concrete to hold it up. Just a bit of drywall which quickly became soggy. Right now she's looking at tens of thousands of dollars to fix the basement, and she better do it quick before something bad happens to the foundation! What a disaster.

RobertLangDirect
June 6th, 2008, 12:06 PM
I hate to be the first to say this, but given the hidden defect, most likely one that you can prove the former owner knew or should have known about, you really need to get a lawyer and go after the former owner.

Remedies may not be what you awant but they are achievable.

Recind sale. Former owner become the owner, you get your money (less lawyer fees) back.

Or, same as above and the lawyer is smart enough to get old owner to pay his fee.

Or, old owner pays for proper repairs.

BTW, I cannot say if its up to code or even up to snuff but I have a neighbor you did similar dig, to get ten feet ceilings in basement and make the space livable. Looks good. Will it last 100 years?

Moonlight24
July 25th, 2008, 09:10 PM
Was this a non-Realtor sold property? When I purchased my last property, my loan agency made someone inspect the property to get the actual value.

They made me sign off on the bad water heater, the bad bathroom that we gutted, and the bad drainage on the property. They also made us address it after purchase before our insurance would kick in.

Where are these loans coming through that people get these assets?