Re: Foundation repairs - risks
1 - When you contact said foundation contractors for bids, make sure that they know you DO NOT own the house, and that you will be paying them for their time and efforts. It's bad enough to lose a bid honestly, it's infuriating when the job was never there to begin with.
2 - It is unlikely you'll get the owners to agree to replace the foundation for you (subtract cost from asking price ), but it is certainly an negotiation tool, if you can get 1/2 to 3/4 of the cost deducted, consider yourself lucky.
3 - As far as hidden surprises, there's always hidden surprises with a project of this magnitude. By the vary nature of "hidden" and "surprises", there is no accounting for them before jumping in feet first, except for adding at least 25% to the budget. If you are prepared financially for these surprises, then when they don't occur, the surprise is a good one (more money in your wallet ), as opposed to a bad one (unforeseen circumstances and the inability to pay for them ).
I suffer from CDO ... Its like OCD, but in alphabetical order, LIKE IT SHOULD BE!!!