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My realtor cousin told me to skip the home inspection in a bidding war, big mistake
Last spring I was trying to buy a place in Hamilton and kept losing offers by $20k or more. My cousin who sells houses in the GTA told me to waive the inspection to look stronger to sellers. I did it on a cute little bungalow near Gage Park and thought I won big. Turns out the foundation had cracks that let water pour into the basement during that heavy rain in July. Cost me $14,000 to fix it with a contractor who had to jack up part of the floor. My cousin shrugged it off and said it happens sometimes but I feel like he just wanted his commission quicker. Has anyone else had family give them bad housing advice that cost you real money?
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hart.parker3mo ago
Holy cow, FOURTEEN THOUSAND dollars for a foundation fix? That's brutal, man. Your cousin really hung you out to dry on that one.
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dakotab133mo ago
Hold up @hart.parker, I think you might've misread that. The $14k was for the foundation AND the whole basement waterproofing system combined, not just the foundation fix alone. It's still a lot of money, I know, but the actual foundation work was more like $8k of that total.
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anna_carter533mo ago
$8k for foundation work alone still sounds a bit high to me, especially if it was family doing the job. But I guess it depends on how bad the damage was and what part of the country you're in. At least the waterproofing part might actually save you money in the long run.
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