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I'm already seeing where this is going. We are all going to tell you to not buy it for reasons A, B, C, but you will probably still buy it because its such a "great deal".
First - you have no idea if the issue is the roof or not. Just because the roof is 6 years old doesn't mean that it was installed properly and that the flashing was done correctly etc. If the roof is the problem and things have been leaking for 6 years then good luck. I'll also reiterate what others have said - without ripping out the drywall, you have no way of knowing if the damage is big or small or if there is mold or not. You have no way of knowing if the bathrooms will have to be completely gutted and done over. You have no way of knowing of there are rotted joists, yadda, yadda. Yes. the house would be a great deal if it was 50K under value and needed some cosmetic tweaks, but tally up the costs associated with water damage and the potential that you may need a new roof, bathrooms, mold removal, etc and I'll bet the house won't be as great a deal as you think. I would walk away from this one in a heartbeat.
Before I would even consider buying a house with water damage I would have someone identify were the water came from and if there is mold. Mold can be deadly.
I'm already seeing where this is going. We are all going to tell you to not buy it for reasons A, B, C, but you will probably still buy it because its such a "great deal".
First - you have no idea if the issue is the roof or not. Just because the roof is 6 years old doesn't mean that it was installed properly and that the flashing was done correctly etc. If the roof is the problem and things have been leaking for 6 years then good luck. I'll also reiterate what others have said - without ripping out the drywall, you have no way of knowing if the damage is big or small or if there is mold or not. You have no way of knowing if the bathrooms will have to be completely gutted and done over. You have no way of knowing of there are rotted joists, yadda, yadda. Yes. the house would be a great deal if it was 50K under value and needed some cosmetic tweaks, but tally up the costs associated with water damage and the potential that you may need a new roof, bathrooms, mold removal, etc and I'll bet the house won't be as great a deal as you think. I would walk away from this one in a heartbeat.
I guess it really depends on what caused the water damage in the first place. A few weeks after buying my house, one of the toilets upstairs overflowed due to poor flushing power. (20 year old toilets) I turned off the water quickly as I could, but some water still seeped under the walls. It caused damage to the ceiling in the kitchen below in one spot. New high efficiency flush toilets solved the poor flushing problems, and I had a painter fix the ceiling when they were painting some other rooms for us.
In short, was the water damage in this house caused by one event, or was water leaking over an extended amount of time? Leaks that last a long time, tend to allow mold to develop. I'd stay far away from anything where mold may be an issue.
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