Something you don't see every day.

[Imperial One]

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!!!

 

[5.7 hemi]

Wow! Why wouldn’t insurance cover it?

 

[1967coronet]

Damn, that sucks.
I remember being nervous buying our current home in 91 for 35k .
Location is everything, is what you allways hear.

 

[Cranky]

Dayam....most insurance doesn't cover structural failure/shoddy work.

 

[Imperial One]

Wow! Why wouldn’t insurance cover it?

Mechanical failure is your problem. Like if you blow the engine on your old car. No guarantees on a 120 year old home.

 

[Cranky]

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.

 

[Richard Cranium]

Why couldn’t they jack the house up and build a new foundation?

 

[chargervert]

Why couldn’t they jack the house up and build a new foundation?

Probably a lot more differcult to do with a brick built building.

 

[moparedtn]

Could it instead have been a fault with the ground? Sinkhole? Unstable fill?