80% of the value of that place is in the property because of its location. The actual structure was assessed at about $250,000. Hard to imagine the repair bill is almost equal to the home replacement cost. Most of the homes in that area are perched on the side of a steep slope, where heavy rains and mudslides are common, so the foundation should be high priority for inspection, I would think. It is a heads-up for us all. Don't rely on your contract, don't rely on your lawyers, don't underestimate the defect and don't try to put a price on it. Click to Enlarge 18.45 KB