Would you buy a home that had water damage? (Houston: water heater, gated)

[txdemo]

Originally Posted by lbc0815

The disclosure was after I signed the contract so we already agreed on the sale price. But I didn't find out further information until last night after I requested the repair documentation.

What? You signed a contract before looking over the seller's disclosure?

[lbc0815]

Oops...scratch that! I did read the disclosure before signing, idk what I wrote that. But as I've said in my original post, I had no idea the damage was that big and to be honest had no grasp of what's acceptable and what's scary. I did ask for documentation of repairs after reading the disclosure but my agent said that's something we do during the option period. We're still in our option period and I just learned about the severity of the damage last night.

[right]

sounds like the agent wanted you to sign immediately to get the ball rolling on their 3% commission. do you have an option clause in the contract where you can pay the fee and get your earnest money back?.. of course only if you want to back out..

I wouldn't be too concerned with the past damage. maybe you can get a mold inspection done for peace of mind?

[maggie2101]

For a minute there I thought you were talking about the house I sold in Katy. We had our water heater fail in the middle of the night and woke up to water all over the place. Our insurance contacted Serv-Pro to do the repairs. It came to $22k.

[crone]

If it was a water heater and the damage has been repaired by Serv Pro, what's to worry about.

That's what happens when builders put water heaters in the attic. Just wait till the HVAC drain stops up and you are out of the country like happened to two of my neighbors.

It is all over Houston.

[lbc0815]

Originally Posted by right

sounds like the agent wanted you to sign immediately to get the ball rolling on their 3% commission. do you have an option clause in the contract where you can pay the fee and get your earnest money back?.. of course only if you want to back out..

I wouldn't be too concerned with the past damage. maybe you can get a mold inspection done for peace of mind?

That's the Option Period that I'm talking about. I paid $100 for the option to back out of the contract within that 10-day period and get my earnest money back. My agent said that we couldn't have got those repair records before our offer was accepted.

As for mold inspection (or any further inspection for matter), we're on our 8th day of the option period so there's no more time left.

[TrapperL]

You're asking folks on the internet that have never seen the house, many never even seen Houston, about water damage to a house. You had an inspector look it over and he's telling you it's okay. So what kind of response on the forum were you expecting? As a certified mold inspector in Texas, you don't need to waste the money for a mold inspection. If there was mold after 2 years it would have been real obvious to even you. Mold requires several things to live and in the case of a water heater leak, the water. Once the water is gone, so is the mold. Mold has been grossly over hyped which is why claims are limited in Texas. If you have questions about the house, ask your inspector, at least he's seen the house. One of the questions I would be asking is why the water damage when the water heater, by code, is required to be in a drain pan if installed in the attic. Is it currently in a drain pan or not. If not, it needs to installed immediately. Is it properly draining to a conspicuous area so you know it's leaking? I wouldn't sweat the past damage but you sure need to be asking about future damage.

[texas7]

Water from a water heater -- and its repaired -- sure I'd buy. Flood damage from rain or storms -- no way.

[Sugarlandbubba]

Originally Posted by lbc0815

That's the Option Period that I'm talking about. I paid $100 for the option to back out of the contract within that 10-day period and get my earnest money back. My agent said that we couldn't have got those repair records before our offer was accepted.

As for mold inspection (or any further inspection for matter), we're on our 8th day of the option period so there's no more time left.

If there are no backup buyer waiting, try to extend another option period for 10 or more days in writing. However, you must pay another option fee.

Even if there is a back up buyer in waiting, the seller way want to extend the option period if you can show that you are diligent in getting expert opinions on the matter. Besides, the next buyer will have to go through the same thing.

Good luck

[Meyerland]

Originally Posted by crone

If it was a water heater and the damage has been repaired by Serv Pro, what's to worry about.

That's what happens when builders put water heaters in the attic. Just wait till the HVAC drain stops up and you are out of the country like happened to two of my neighbors.

It is all over Houston.

We just had a stopped up drain and I was having nightmares until the plumber could come out and fix it. Easy fix and cheap, however it was nerve wracking. We always check before going on a trip and periodically Inbetween trips. I can see how easy it is to flood a home from HVACvor water heater issues.

OP- if you love the home, got a good price,and plan to stay there a long time...then buy it. If any of those factors are missing, then skip it.