Oh No!! My first house is drowning....

Defying · Dec 17, 2010

Yall helped me through the process of buying my first house, and well, now I need your help again...

The house we choose was a 3 story, older home, 1941, that is large2400 sq.

Well we were SUPPOSE to CLOSE on Dec 27. About a week ago we got a call said a pipe burst int he attic and went all the way to the basement... I went and saw the damages today.. It was mind blowing... the water line in the basement was 3 in+ high.

warped the wood floors, buckled a wall, made the ceiling in one room collaspe ect... however, in some rooms, you couldn't see any damage to ceilings or walls, but there was water stains on the hardwood, so clearly there was water in there....

Well, because it was BEFORE closing, THEIR Homeowners insurance it covering everything. Right now Going into the house was 50 fans and different machines all going...

My concern is the LONG TERM DAMAGE.. is this enough reason to back out fo the deal???

Anyone ever had experience with this water damage? Are there things I should check for after the supposed repairs are done? If everything is done right, should I not worry...

It was heartbreaking walking in there and seeing the house in such bad shape..

Thanks for the information in advance

niltes · Dec 17, 2010

water damage and potential long mold problems are not readily visible
and not obvious. i would not go through with this transaction. if
you decide to proceed be there for every inspection and repair.
in addition extract a significant price reduction to compensate
you for the delay and potential future repairs. the sellers will
have a hard time selling this house at this price in a reasonable
time frame especially now that are bound by law to disclose
the water damage. your offer to be well compensated if you
decide to proceed is extremely fair.

Dante · Dec 17, 2010

this gambling forum is great it even helps people buy houses... sorry to hear of your troubles Defy...hopefully they have a good homeowners insurance... and can get it cleaned up very well...

WharfRat+ · Dec 17, 2010

No way would I buy that house. You have all the leverage now. Back out and if you really want it offer 10% less.

festeringZit · Dec 17, 2010

I'd be very tempted to back out of the deal. Do some web searches on mold damage and mold issues, that issue alone would
cause me to walk away.

Betallsports · Dec 17, 2010

Don't walk ............. RUN !

Like others have said above, MOLD is not a good thing... and is Not something that will happen overnight ....

Have a Friend that lives in Vegas, who had a major problem with a $700K house that he bought about two years ago. He had to move out because of Health reasons
has two young kids.... They said to Fix the Damage of the Mold, it would cost over $300K ( it's through out the house )
Anyway, he has taken the company to court and sued to have a New House

So his story is with a New House..... Just think of a House with water damage... possible Mold damage, that was built in 1941 ???

DrunkenHorseplayer · Dec 17, 2010

Definitely look elsewhere unless you can get it ridiculously cheap.

ThreeKings · Dec 17, 2010

In my first house the sump pump died and the lower level flooded. The restoration company came in and threw away the carpet and trim and drilled holes in the bottom of the sheetrock. Then they put fans and dehumidifiers in the basement. If this is done in the first 72 hours you shouldnt have mold problems.

You will get new carpet and paint and floorboards, just make sure you have someone that knows what they are doing inspect it. After you close it will be hard to get things fixed without going to court.

The comment about the house being harder to sell is correct because they have to disclose the water damage, you may be able to negotiate a better price and they should let you pick out the new carpet and colors of the paint.

Enfuego · Dec 18, 2010

A house built in 1941? Bad decision before the damn pipe burst.

Bruins4Life · Dec 18, 2010

Run Defying......Run !!!!!

mplastered · Dec 18, 2010

I disagree. Could be looked at as a blessing. I am a plasterer. I do a lot of restoration work. They are gonna rip that thing apart. What probably wasn't insulated can now be insulated. What probably didn't have enough electrical outlets can now be added or even updated. What wasn't up to code before has to be updated. What would have cost you a fortune to upgrade can now be done for a lot less. Negotiate. When all the damaged areas are exposed they will be sprayed for mold.

Murphy8276 · Dec 18, 2010

yea this is a tough one bro. imo I would negotiate for the house to be lowered 5-10% or not go through with deal.. I agree with above poster about things will be updated to code by law now and the insurance company is footing the bill so no reason why homeowners would cut corners, BUT I also agree with others that long term mold is a killer and if u have breathing issues or get sick a lot later, u will remember the cause of it all.

bottom line is, it is your choice. u are prolly in boxes up to your heads and ready to move. so unless u find another property or continue a lease somewhere (if not current place cuz lease is up) then u will be out of a home.

gl buddy

-murph

Oh No!! My first house is drowning....

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