Home Improvement Questions? Ask a Handyman for Answers
Hello .. Rich here .. do you have a copy of the engineers report ?
It was done a number of years ago. I have a drawing of the house footprint with elevations all around the perimeter.
Foundation elevaltions going clockwise beginning at north east corner. Elevations are at all corners.
0"Ref (NE corner), -1/2",-7/8",-3/4",-3/4"(SE Corner),+1/8",+ 3/4 (SW corner), +1 1/4", -1/4", +1/8", -1/4",-1/8"(NW corner), +5/8", -1/4",back to 0" Ref NE corner
In all situations that I have experience with, the seller is required to disclose what they know that might influence the value of the property. The elements of this are, that if you, the seller know something about the house that would bear on the value , you must tell the buyer.
Seems from what you are saying is that you know there are cracks and possible settling. You have an engineers report and a drawing with the corners elevations. You should share this with the buyer. If that is all you know about it , then that is what the disclosure clause is all about.
On the form I think I would call it settling and then note that a copy of the report was attached ... and let the buyer come to their own opinion ... using the same information that you have.
a lot of areas are subject to cracking foundations .. All the slabs in Las Vegas have cracks , at least the the older ones .. in some areas it is normal for foundations and slabs to settle some over the years .. some areas settle quicker because of more active ground forces. you did the right thing to protect your interest in the new building .. you got the engineers report
now as for the seller disclosing the things that they know that may influence the value of the property, I do not think it matters what you initially call it ,, settlement would be a more encompassing term. and as long as you tell what you are aware of there should be no problem with the sale. In this case I would attach a copy of the engineers report and the diagram of the elevations .. that is the info you have and let them have it ..