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Regular Visitor
ShouldIbuynow
Posts: 1
Registered: ‎04-19-2010
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Home has previous water damage claim. Should I buy?

After our offer was accepted, we learnt that the home has had a water damage claim in the past. ( this did not come up during inspection - we found out later). 

 

The seller has not been forthcoming about this - we are not sure what really happened. What are our options? - If we decide to walk away - do we lose earnest money

 

 

Thanks

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BobSmith284945
Posts: 4
Registered: ‎04-18-2010
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Re: Home has previous water damage claim. Should I buy?

I'll add a tag-along question if I may. Is there any good way to independently verify the flood history of a home?

Trusted Contributor
sna
Posts: 172
Registered: ‎03-13-2008
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Re: Home has previous water damage claim. Should I buy?

Flooding and a water damage claim are two very different things.  A water damage claim is a "sudden" failure of an internal component (such as a toilet seal, pipe bursting, washing machine hose breaking, etc.).   A flood is an external source of water coming into the home. 

 

A water damage claim shouldn't by itself cause you to back out of the purchase unless it points to a workmanship problem with the home or there's a mold issue.  But your question would make me wonder if you're looking for a reason to back out.  Not the right house?   

 

 

Platinum Super Contributor
Nanomug
Posts: 10,050
Registered: ‎05-30-2009
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Re: Home has previous water damage claim. Should I buy?

[ Edited ]

How long ago was the claim? Was the seller the owner when the claim was made?  For the most part once the problem is fixed its out of mind.  

 

What are you fearful of?  The inspector found no evidence of damage.  Perhaps you could call the inspector back to re-check and verify the lack of damage.

 

Things go wrong in a home and things get fixed.  

Silver Regular Contributor
DWBowers
Posts: 622
Registered: ‎01-02-2008
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Re: Home has previous water damage claim. Should I buy?

I'd have an inspection done to ensure the problem that caused the water damage has been fixed.  I'd also have an inspection done to detect mold.