Bank REO

[kcal09]

http://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037

This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?

[bearishgurl]

[quote=kcal09]

http://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037

This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?[/quote]

The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.

[bearishgurl]

[quote=kcal09]

http://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037

This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?[/quote]

The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.

[bearishgurl]

[quote=kcal09]

http://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037

This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?[/quote]

The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.

[bearishgurl]

[quote=kcal09]

http://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037

This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?[/quote]

The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.

[bearishgurl]

[quote=kcal09]

http://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037

This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?[/quote]

The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.

[SK in CV]

[quote=bearishgurl]
The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.[/quote]

There are other ways. Epoxy injection (with or without steel reinforecment) is not near as expensive as saw-cutting and replacing the affected section, and neither are near as expensive as slab replacement (lift, remove, replace). Though I think the cost for the slab replacement is significantly higher than the numbers you quoted there, when the interior and exterior prep and restoration is added in.

It looks as though the crack may extend into either additional rooms or even an adjacent unit. That may create a problem for repairs.

Probably a bigger problem is financing. I’d be quite suprised if any is available.

[SK in CV]

[quote=bearishgurl]
The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.[/quote]

There are other ways. Epoxy injection (with or without steel reinforecment) is not near as expensive as saw-cutting and replacing the affected section, and neither are near as expensive as slab replacement (lift, remove, replace). Though I think the cost for the slab replacement is significantly higher than the numbers you quoted there, when the interior and exterior prep and restoration is added in.

It looks as though the crack may extend into either additional rooms or even an adjacent unit. That may create a problem for repairs.

Probably a bigger problem is financing. I’d be quite suprised if any is available.

[SK in CV]

[quote=bearishgurl]
The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.[/quote]

There are other ways. Epoxy injection (with or without steel reinforecment) is not near as expensive as saw-cutting and replacing the affected section, and neither are near as expensive as slab replacement (lift, remove, replace). Though I think the cost for the slab replacement is significantly higher than the numbers you quoted there, when the interior and exterior prep and restoration is added in.

It looks as though the crack may extend into either additional rooms or even an adjacent unit. That may create a problem for repairs.

Probably a bigger problem is financing. I’d be quite suprised if any is available.

[SK in CV]

[quote=bearishgurl]
The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.[/quote]

There are other ways. Epoxy injection (with or without steel reinforecment) is not near as expensive as saw-cutting and replacing the affected section, and neither are near as expensive as slab replacement (lift, remove, replace). Though I think the cost for the slab replacement is significantly higher than the numbers you quoted there, when the interior and exterior prep and restoration is added in.

It looks as though the crack may extend into either additional rooms or even an adjacent unit. That may create a problem for repairs.

Probably a bigger problem is financing. I’d be quite suprised if any is available.

[SK in CV]

[quote=bearishgurl]
The only way I know of to fix a cracked slab is to jack up the building. Your link shows an obvious two-story bldg but is this condo a two story? It appears to be just a one-story unit with a unit above. How many units are in this building??

Not familiar with this complex.

It costs $35K to $50K to *properly* fix a crack all the way thru (front to back or side to side) in a 2000 – 2400 sf SFR. You would have to hire an engineer to do it and sign off on it.

If the crack is not offset (one side higher than the other) and it is not too wide (more than 1/4″), you could just buy it and live in it if the price is low enough but you will have to disclose the crack, by law, when you list the property for sale, as well as remove the floor-covering, like the REO seller did in the photos, to allow potential buyers (and their inspectors) to inspect the crack.

If you choose to live in it unfixed, I don’t see you gaining any equity from this property in the foreseeable future so I would not buy it.

If you choose to have it fixed, I would get estimates of how much it would cost to do so in escrow first before I committed to the sale.

I have NO IDEA how a crack in a condo slab could be fixed without affecting adjacent and nearby condo owners.

In any case, if you bought the property and fixed the crack, you will have to disclose to future potential buyers in your Transfer Disclosure Statement that your condo has a “fixed crack slab” and make your engineer’s certificate available for viewing by potential buyers.

I think I’d pass on this one.[/quote]

There are other ways. Epoxy injection (with or without steel reinforecment) is not near as expensive as saw-cutting and replacing the affected section, and neither are near as expensive as slab replacement (lift, remove, replace). Though I think the cost for the slab replacement is significantly higher than the numbers you quoted there, when the interior and exterior prep and restoration is added in.

It looks as though the crack may extend into either additional rooms or even an adjacent unit. That may create a problem for repairs.

Probably a bigger problem is financing. I’d be quite suprised if any is available.

[kcal09]

I am planning to pay all cash if the repair does not exceed $30k. However, I’m also concerned about the value if I want to resell this unit. Do I still have to disclose that there was a crack after I repair it, especially if it is hidden underneath a new wood floor?

[kcal09]

I am planning to pay all cash if the repair does not exceed $30k. However, I’m also concerned about the value if I want to resell this unit. Do I still have to disclose that there was a crack after I repair it, especially if it is hidden underneath a new wood floor?

[kcal09]

I am planning to pay all cash if the repair does not exceed $30k. However, I’m also concerned about the value if I want to resell this unit. Do I still have to disclose that there was a crack after I repair it, especially if it is hidden underneath a new wood floor?

[kcal09]

I am planning to pay all cash if the repair does not exceed $30k. However, I’m also concerned about the value if I want to resell this unit. Do I still have to disclose that there was a crack after I repair it, especially if it is hidden underneath a new wood floor?

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