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The ‘no problem letter’ in a foundation repair operation, is a letter that states that after the foundation repair company looked at your home and assessed the various points of potential issues, they arrived at the fact that your home has no foundational or structural issue. As you can surmise, this letter is critically important in any transaction that may have to do with your home, first of this letter is a financial instrument and it tells anyone who is about to buy your home, or engage your home in any form or fashion, that the structure is sound. The fact that a professional foundation repair company has assessed the structure of a home and arrived at this conclusion of a ‘no problem’ carries significant weight. The ‘No problem letter’ is in a fact similar to a promissory note, it states the fact that this home does not require additional expenses to fix various structural issues.
To emphasize the point a second time, it is a financial instrument. It states that the structure of the home is sound. In anything related to real estate, this letter is integral to the price at which you can set your home for sale. And this letter is only available after the structure of the home has been checked and deemed sound.
How long is the ‘No Problem Letter’ good for?
The ‘no problem letter’ is generally good for that moment in time of receipt. So this means that it has a short expiration time, but for that moment in time the structure of your home is deemed sound. If you were going to sell your home, the inspector will look over your house to ensure that there are no issues, and if you work with a foundation repair company who provides an evaluation of the foundational structure on your home, that evaluation either comes out with the results of which one could be that the home needs foundation repair, or that it doesn’t.
If the structure/home needs foundation repair, then work will be done to correct the foundational issues, if a foundation repair a valuator assesses the structure and concludes that there are no problems, then you can request a quote no problem letter”If the structure/home needs foundation repair, then work will be done to correct the foundational issues, if a foundation repair evaluator assesses the structure and concludes that there are no problems, then you can request a “no problem letter”. And the ‘no problem letter’ is a tool that states that the structure has been evaluated and it has been deemed sound, the buyer of the home will probably want to see some documentation to this effect as opposed to simply the buyer stating that there are no problems.
Is there a cost associated with obtaining a “no problem letter”?
As this document is a financial tool that has an impact on the valuation of a real estate property, it goes without saying that it certainly has a cost. Although the cost is relatively low compared to the other requirements that a real estate transaction and tails. The cost of the no problem letter is generally no lower than $200, and this is the cost of the documentation. With varying foundation repair companies it may be more but that’s what you should be expecting. Being that this is a financial instrument, and has a short expiration, this document is usually sought if there really are no problems with the structure and the documentation is required to prove it.