The house previously had flood damage from pipe breaksIs it ok to buy?

Question

I found a house that I really like, and I was ready to make an offer. However, what I saw on their seller disclosure statement was that this house previously had flood damage from pipe breaks. They said that repairs were made and there is a 2 year workmanship warranty. Also all areas were spray for mold prevention. Is this ok to buy? I am afraid that it might have future pipe breaks else where.

Answer 1

Here is who to ask:

Your insurance company before you put an offer down.

Sounds crazy, but here is why.

Insurance companies have a NATIONWIDE policy that if there has been a WATER damage claim on a property in the last 5 years, that they will refuse to insure it until it has "seasoned" for 5 years.  That means you have to get state, high-risk insurance (at a high cost) through the state.

The reason:  Potential for black mold.

There was a woman in SC who successfully sued State Farm for over $60 million...she had a some flooding and they fixed the problem, repaired the damage...however, toxic black mold formed after that and she became sick.  The courts held State Farm liable for her health condition.

Now they consider 5 years the "drying out" time to erase the potential that black mold will form.  If you haven't seen it 5 years after water damage, you probably won't see it at all.

Answer 2

I would be very cautious, you never know to what extent the damage has run. Water is the most damaging thing to a house structure, the mold and the dry rot it causes not to mention the rust and corrosion to the metal like screws and duct work. You would need to see the repair list and find out what they did and what was replaced, if all they did was spray a fungicide on the drywalls that may not be enough to fix the problems that may occur. Talk with your insurance carrier before signing anything, they may not want to cover you fully.

Answer 3

a; ask insurance companies what they will cover AFTER you provide

the seller's declarations.

b; get the seller to provide additional insurance on the house,

specifically covering anything related to flooding.......for a period of

6 mo.

c hire a home inspector AND a building contractor--both whom

are licensed and experts in flood damage--PRIOR TO BUYING.

luck to you

Answer 4

The pipes broke probably because there was no heat in the house.  It is a terrible expensive procedure.  It cost them a fortunate for repair.  Did you have an inspector check for the house?

Ask them why the pipes broke, what was the cause. That is very important.  Copper pipes are much better than plastic.  So work this out with the inspector.  Make sure you get a qualified inspector.