Brick Repair on Fannie Mae home - buy or run?

We are trying to buy a fannie mae home. Great neighborhood but of course the house needs some help.

We are especially worried about this brick repair at the front of the house. It seems like it's a wildcard in terms of repair but it doesn't concern me enough to walk away from the house - should it?

There is evidence that water leaked down the window into the wall and then down to the basement where none of the wood is brittle but we had a woodworking (but not professionally) friend describe the wood as "pucky"? So it seems that when we pull the wall open we're not going to have to deal with fixing the foundation, but what if we do? Does anyone have a concept of the cost fixing this part of the home with brick or even vinyl siding? (there is vinyl siding on the top sides of the home we could match for aesthetics)

The home inspector said only this:



here's a video of the damage.

https://dl.dropboxusercontent.com/u/22769520/IMG_4021.MOV

Not my expertise but some observations. If you live in snow country, you have a freeze-thaw issue. Your window sill is cracked on the outside. It needs replacing as part of the inevitable brick repair job you are facing. Plan on both to get the wall tight against weather.

That wall needs repointing in numerous places to dig out failed mortar and re-install. Once you start, it might grow into more than just where the mortar is already missing. Not a big expense but a very necessary one. You want to keep the old brick for the "look."

Inspect the basement below the wall for sagging or cracks if you can. The actual reason for the problem might have been sagging there which transmitted upwards to the wall by the window which THEN allowed water to seep downward. A sagging wall with crack in the basement is expensive. See if you are allowed to explore behind the basement finished wall.

"Punky" is common term for a bit soft or maybe even smelly. Wood guys makeup words like that because they are not very smart.

If the price is low enough and the basement does not reveal any serious wall damage you might still buy the house. I will defer to other guys who have experience in cold country ... or who are smarter than some punky carpenter. ... or who know more about brick damage.

I'd also ask:
-houses this old built this way in this location commonly have what problems needing repair?
-houses this old built this way in this location with this symptom/problem commonly have what other problems needing repair?

I would probably avoid dealing with fannie mae at all
http://www.google.com/search?client...ainst+fannie+mae"+lawsuit+class+action&rls=en

BTW, the picture in #2 deserves a title. How 'bout "Frustration" or "Roadkill"?

Thanks for the comments and link. We only have a few days left in our inspection period and every thing helps!

jodi

CallMeVilla said:

Inspect the basement below the wall for sagging or cracks if you can. The actual reason for the problem might have been sagging there which transmitted upwards to the wall by the window which THEN allowed water to seep downward. A sagging wall with crack in the basement is expensive. See if you are allowed to explore behind the basement finished wall.

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We can rule this one out the basement was unfinished and we had the inspector look at the basement wall, a handyman friend and the woodworking guy. no one noticed anything except the pucky thing and some beginning green mold which seems remediation-able.

The key work is " punky " dosn't really matter what it means. We can be sure it dosn't mean dry and in great shape. So some moisture likely means house wrap or window installion have a problem.
You will not know for sure how bad it is untill you open up drywall under the window, you could just feel the drywall in that area and see how flexable it is.
I would lowball the price and when they come back with counter offer, get them to agree to open that drywall and let you have someone look at it.

The typical "boilerplate" home inspector verbiage tells you very little about what is actually the condition of the wall and the framing/foundation inside and below it. Sad state of affairs, when anyone with a laptop can instantly become a qualified "home inspector."

I'd be inclined to rent or buy a moisture meter and take a few readings on the inside of the interior wall(s). If above 20%, walk away from the "deal," because it won't be much of one. Or be prepared to spend serious $$$ to make proper repairs.

I think Bridgeman ment inside of exterior walls.

Ten-four on that--my bad.

BridgeMan said:

I'd be inclined to rent or buy a moisture meter and take a few readings on the inside of the interior wall(s). If above 20%, walk away from the "deal," because it won't be much of one. Or be prepared to spend serious $$$ to make proper repairs.

Click to expand...

This is going in the direction of
"Expected value of perfect information"
For what's riding on this, the OP may want to run more tests & make more measurements.
What is found ahead of time is the minimum number of problems.

Wuzzat? said:

"What is found ahead of time is the minimum number of problems."

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Thinking about it that way makes it extra scary, we lowballed then almost 20Gs and they came back with 4000 off - so we said no try again and they are no sending out three contractors to look at it and then decide of they'll take 12grand off the price. My worry is that if they say yes, it's because the repair is too much.

Thanks for the advice. Sounds like assuming this is a 20,000 repair wasn't a bad conclusion.

If they find a contractor and offer to fix it for full price, then you will want to see permits and inspection.

nealtw said:

If they find a contractor and offer to fix it for full price, then you will want to see permits and inspection.

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It's fannie mae they won't fix it. Getting super mad that we havent' heard from them in over a week and of course it's been raining every day since - making the problem worse most likely.

I would think Fannie Mae is like buying from CMHC in Canada. You just have to get a price that leaves you enough to do the fixing.

Do you have enough time to bring in a mason for an estimate? That would be the x-factor in the price of the purchase. Are any of the bricks loose to the touch? That would seem like a different level of seriousness.