Nitrousbird Posted March 30, 2009 Report Share Posted March 30, 2009 My wife and I have a contract on a very nice foreclosure. Built in 2003. I had the inspection done today. Needs some cosmetic work here and there (paint and spackle mostly, and some new carpets...no biggie). But when we turned the water on...oh shit! Two major leaks; one is from the 1st floor master bedrooom bath; most likely from the pipe feeding the toilet. The other looks like it is from the upstairs bathroom. This was not just a drip or a pour...it was raining. Water was raining by the basement drain, the master bath was leaking into the crawl space. Caused standing water in the master bath and front foyer. No mold that can be seen; our guess is they didn't clear the pipes out when the water was shut off, it froze and burst the pipes. Afterwords, they put the anti-freeze in, but it was too late. I think we were the first to turn the water back on. There was zero signs of rot/leaking/etc anywhere, so this is likely the case. We made sure our contract was contigent on an inspection. It is an as-is home, but we are going back with an offer of "if you fix the leaks and any associated damage, we will still buy it." Obviously, everything in writing, with an inspection post-fix. If they won't fix it, we are out, as the cost would be too much to deal with. That said; once something like this happens, are we in for a world of hurt? The house is exactly what we want, where we want; 3200 sq ft, 2 acres in a really nice neighborhood where everyone has 2-3 acre lots; I was so pumped about this place until the water problem. Other than the plumbing, the rest of the work is DIY fixes that can be done in a few days, no biggie. Are we screwed? Quote Link to comment Share on other sites More sharing options...
88lx5oh Posted March 30, 2009 Report Share Posted March 30, 2009 really depends on whee the leak is, how much needs replaced, and how hard it is to get to it, and because of the leak now, if there is going to be more damage to fix. obviously its up to whoever is selling the home if they want to fix it, but could be a costly job Quote Link to comment Share on other sites More sharing options...
gillbot Posted March 30, 2009 Report Share Posted March 30, 2009 May need a complete pipe overhaul, without really digging in, you;ll never know. Also, if it has had water leaks undetected for a period of time, there may be a mold issue. Quote Link to comment Share on other sites More sharing options...
kirks5oh Posted March 30, 2009 Report Share Posted March 30, 2009 we put in a bid on a foreclosed house in '03 contingent upon passing inspection. when we had the inspection, several of the pipes had burst (pipe feeding bathtub, and 2 under sink water lines). we bailed on the deal and never looked back. i asked our inspectors what they would do, and they both said "we could fix this problem ourselves--we would offer the bank $10-12k less, claiming that a professional job would be that much, fix it ourselves, and use the remaining $8-10k to upgrade the house" Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted March 30, 2009 Author Report Share Posted March 30, 2009 I am doubting previous leaks. My realtor says the other realtor is making it out to be promissing that the bank will come back with an offer to fix it. She said our requirements should be: - Fully fixed leaks, with guarantee, and any related damage repaired to our satisifaction - Township inspector approve of the repairs, to ensure it is up to code - An inspector we choose to inspect the repairs - We get access to watch the repairs, to make sure the right things are being done And all that paid by the bank. That sounds reasonable to me if the bank goes for it...if not, we bail, and I'm out a couple hundred bucks on the inspection, but that's a couple hundred very well spent. I hope it goes through, as we really love home/land/location, and when you walk in, it has the "WOW" factor we were looking for (2 story vaulted ceilings). The rooms are sized the way we want, and has the potential to do upgrades that will really increase the value of the home without breaking the bank. I guess we will see. I guess my main hope was to have someone in here post up having a similar experience buying a home, and what they did for the repair process. Quote Link to comment Share on other sites More sharing options...
kirks5oh Posted March 30, 2009 Report Share Posted March 30, 2009 talk to the inspectors. i used D&G inspection--we stopped the inspection as soon as the pipes were leaking, and they gave me half off on the next inspection--but yes, it is money very well spent (the inspection) Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted March 30, 2009 Author Report Share Posted March 30, 2009 My inspector said that we should have the bank fix it; he said just because they say "As-Is" doesn't make that the case when something major is wrong. And that's the only major problem; everything else is simple fixes (well, I'd have to pay someone to put new carpet in, which would be the only other thing I couldn't do myself). As bad as the leak was, and from no sign whatsoever of previous leaks, this pretty much has to be the first time it has leaked. Quote Link to comment Share on other sites More sharing options...
smokin5s Posted March 30, 2009 Report Share Posted March 30, 2009 dude, it might be something simple like a valve on the shower or mine was actually the faucent on the tub where you pull the pin to kick on the shower, the rubber seal had deteriorated and just needed replaced.... 5 dollar fix. Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted March 30, 2009 Author Report Share Posted March 30, 2009 Well, the good news is it looks like the bank is going to fix the problem. The selling agent is sending his contractor over to it tomorrow to assess the damage/fix it (I'm sure it is bigger than a fix that guy can do on-site). They will have to pressure test it with air, and find all the damaged pipes. But sounds like they are willing to fix the issue = looks like we may be getting an awesome house! Quote Link to comment Share on other sites More sharing options...
GRN96WS6 Posted March 30, 2009 Report Share Posted March 30, 2009 Pics Joe and good luck on it. As long as it doesn't have existing water and it just happened when you turned the water on it should be ok I'd think. How big is the garage? What about if a pipe bursts in a few months? What's the deal with that would you be on your own or could you get that written in? I bought a in the process foreclosure and I kind of wish I would have known that as-is isn't really as-is if they want to sell it. I just paid a nice chunk to get my damn electrical panel replaced which was found in the inspection but I was new and didn't know. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted March 30, 2009 Report Share Posted March 30, 2009 As with anything, it depens on how intrusive the damage is, how long it has been allowed to continue, and how much the house costs vs. what you have planned for it. I have seen homes down in new orleans after the flood and seen similar homes here. I would not be opposed to buying a house with water or flood damage. I have done many repairs on similar houses. Some of which were similar to what is going on with the new orlean homes where everything is stripped from the home down to bare studs then the studs are sealed. Given these have all been homes on slabs. Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted April 4, 2009 Author Report Share Posted April 4, 2009 We are now in contract. The damaged pipes were less than expected, and all has been repaired. They even cut drywall and checked in other places...bone dry. 1st floor master bath pipe burst, and the copper line to the fridge split wide open. All is good. Quote Link to comment Share on other sites More sharing options...
Ziggy1647545504 Posted April 4, 2009 Report Share Posted April 4, 2009 Congrats on getting under contract. Sounds like you're really excited. Cool that the bank stepped up to move the property. Quote Link to comment Share on other sites More sharing options...
iwishiwascool Posted April 5, 2009 Report Share Posted April 5, 2009 We are now in contract. The damaged pipes were less than expected, and all has been repaired. They even cut drywall and checked in other places...bone dry. 1st floor master bath pipe burst, and the copper line to the fridge split wide open. All is good. congratulations... This is the only way to buy. Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted April 5, 2009 Author Report Share Posted April 5, 2009 congratulations... This is the only way to buy. I agree. I am moving within walking distance of Wease. Now I have butt rape and someone staring in my window to fear......... Quote Link to comment Share on other sites More sharing options...
ODoyle Posted April 5, 2009 Report Share Posted April 5, 2009 I agree. I am moving within walking distance of Wease. Now I have butt rape and someone staring in my window to fear......... From all the posts I have read of yours,you are going to like it. Quote Link to comment Share on other sites More sharing options...
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