Texas dirt is known to be difficult to build on. Real estate professionals who are familiar with the area know that it’s a matter of when, not if, a foundation is going to shift. Any investor or buyer worth his salt will perform a thorough inspection of your property’s foundation and quickly find any issues.
Because of this, it’s a good idea to get your foundation repaired before selling your commercial property in Dallas, TX. You’ll have to disclose that you’ve had work done, but your buyer will be pleased that you’ve taken the time to do things right. So how do you do things right?
Here are some tips to make sure that your foundation repair experience goes smoothly and you keep any prospective buyers happy.
1. Get A Transferable Warranty
Most reputable foundation repair companies in the Dallas area offer long warranties on their work. Try to find a contractor that lets you transfer this warranty to the new owner of your property.
Many of these transferable warranties have a limited window of time during which a transfer will be valid. Make sure that you get all of the paperwork filled out correctly and filed well in advance of any deadline.
2. Look At Plumbing Issues While You’re Down There
If you’ve got cast iron pipes below your foundation (and many old properties do), you’ll want to make sure that you get them inspected for any possible issues during the course of your repair work. Many Dallas foundation repair companies offer plumbing services as well, so you might not have to hire any additional contractors to get this done.
Document your findings and any work you have done. An informed buyer will ask about the state of the plumbing when they hear you’ve had foundation work done. You’ll be able to answer them and prove that everything is in order.
3. Use A Reputable Company
Even with a transferable lifetime warranty, your buyer will be happier if you’ve chosen an established company that’s known for its quality work. Ask some local real estate professionals what their opinions are on various repair firms. They’ll be happy to give you an unbiased opinion. Take their advice into consideration when you compare estimates.
4. Be Thorough
A whole lot can come out during a real estate deal. If a buyer isn’t confident in the work you’ve had done on your foundation, they might hire their own engineer to do a full foundation inspection. If you skimped on any costs during the repair process, they’ll find out.
Your buyer will almost certainly make a lower offer if they uncover any issues you failed to repair. Worse, they might ask you to pay for fixing the issues. It’s a lot cheaper to get everything fixed at once than it is to go digging under your property again to fix an issue you missed the first time.
If the repair firm you choose suggests that additional work needs to be done, listen to them! If you think they’re trying to gouge you, ask for a second opinion from a foundation inspector or another repair firm. Any corners you try to cut during the repair process might come back to haunt you when it comes to the sale of your property.
Get It Right The First Time
It’s a good idea to repair the foundation of your commercial property before selling it, especially in Dallas, Texas. The local soil is especially poor and local investors and real estate professionals will want to see that you’ve done repairs right. You’ll want to save all of the documentation and follow all of our tips to keep your buyer happy.
Find a reputable company, fix everything you can while you’re down there, check the plumbing, and transfer the warranty to the buyer as soon as you can. By doing things right, you’ll save yourself money in the long run and keep your buyer happy with your foundation repairs.
Article contributor: PropertyCashin.com is a leading commercial real estate investment group based in Houston, TX. They invest in all types of commercial real estate throughout the Texas.