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Something you don't see every day.

Imperial One

FBBO Gold Member
FBBO Gold Member
Local time
11:47 AM
Joined
Aug 19, 2020
Messages
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2,194
Location
Canada
This house backs onto my son's home. Apparently the foundation failed. It would have been worth $800,000 - $1,000,000 if the foundation was sound. I guess the lot will still be worth $500,000 or so, but nevertheless....

And this is something not covered by insurance. Ouch!!!







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Wow! Why wouldn’t insurance cover it?
 
Damn, that sucks.
I remember being nervous buying our current home in 91 for 35k .
Location is everything, is what you allways hear.
 
Dayam....most insurance doesn't cover structural failure/shoddy work.
 
Mechanical failure is your problem. Like if you blow the engine on your old car. No guarantees on a 120 year old home.
I think you can get 'failure' insurance on a new home but don't know how long they cover slab failure. Around here, if you have a slab that doesn't settle within 20 years, you're lucky. I was doing slab repairs on my place by the time it was 20.....and it needs more now that it's 46 years old.
 
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