What to know when Buying a House with Water Damage

Water damage in a house can take on many forms and the most notable of these are mold and dry rot. If you are thinking about purchasing a house that has been badly affected by water, there are a few things to keep in mind.

Inspections

Make sure you have a comprehensive water damage inspection carried out. Professionals who know what they're looking for when it comes to water damage will be able to spot hidden dangers that you probably won't. This could include structural damage or faulty pipes. You can easily find a number of qualified inspectors for foundations and mold and the peace of mind afforded definitely makes it worth the money. In certain cases, the inspectors will need to open walls to see the extent of the damage. If the home owner is not receptive to the walls being disturbed, there are some non-evasive tests that can detect water damage behind walls.

Mold

Making sure the house is mold-free is extremely important and should be one of the first things you discuss with your inspection team. Hopefully, the seller will have already addressed the problem but if certain factors remain, the mold could easily grow back. Mold can cause a myriad of health problems such as asthma, headaches or lung infections so make sure you contact a specialist to perform an inspection that involves looking behind wallpaper, under carpeting and in hidden crawl spaces.

Dry Rot

Dry rot is a specific kind of fungus that eats timber. It is a common by-product of water damage and it is recommended that you check the house for dry rot thoroughly. This specific timber fungus is highlighted because unlike other varieties that may be present, dry rot can spread to other materials and if left unchecked, it could destroy the fabric of the entire house. Contact a company specializing in wood construction and have them survey the damage. They will probably recommend removal of pieces of wood that are exhibiting signs of the fungus. The next step would be replacing that wood with timber that has been pre-treated to prevent dry rot.

Negotiation

Once your inspections have been carried out and you get an assessment of how much repairs or ongoing attention will cost, factor that into the price you bid for the property. If the seller is not responsive, have your Realtor explain to them the extra cost you will incur because of the water damage and you should be able to work out some kind of price reduction.

Insurance

You must be realistic about the house and any water damage it already has but if you make an effort to maintain the property to a high standard by keeping an eye on the previously water-damaged spots, you should be able to successfully argue any future claims. If the water damage is extensive, make sure to get the most comprehensive policy you can afford. Work out if you would be covered if issues related to previous water damage return. Also, make sure any repairs you would be liable for  yourself actually fit into your finances before going through with the purchase.