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The owner says it's not water, just a contraction/expansion joint, but that would not explain the bubbles in the lower corners (which we did not specifically inquire about, but they are there). He says there were never problems with water leaking there or anywhere else...
I tend to agree with oldtrader, but we are not sure at this point whether we should to go forward with an offer. There are too many things that I'm afraid will need to be replaced, and the house is already overpriced as it is.
This would be the second house we seriously considered that we would pass on. We are learning a lot from this process, however, so thank you for all the replies!
There are no "expansion/contraction" joints in drywall. The owner either doesn't know or is hiding something.
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