I am in contract to purchase a home, plan to close in a week. I found water in basement, what should I do?

Question

I found the water in the unfinished basement, day after a heavy rain. Some water was near a window and found a puddle in the middle of the basebement floor near no windows. A carpet was completely wet in this region.

Answer 1

You should ask the owner about this. You still have a right to a final inspection, and you can demand they fix whatever the problem is before you buy. If you are working with a realtor, as him/her to help you with this. Or you could get a real estate attorney. You could find one that has a free initial consultation.
Good luck.

Answer 2

Until you actually close on the property, you are not responsible for the maintenance - the current owners are.

Water in the basement after a heavy rain indicates possible serious structure flaws with the foundation. Or, there may not be an adequate drainage system - is there a sump pump, and is it operating properly? Is the outlet for drainage clogged with mud or debris?

A wet basement not only causes structural damage, but can be harmful to your health. A damp atmosphere is a breeding ground for mold and mildew - which can become toxic over time - causing chronic health problems.

Do not close on this property until the causes are investigated, and the cost to repair the problem is found. If the basement is finished, it may require gutting the drywall and insulation, exposing the walls - repairing any cracks, and sealing with a waterproofer. The carpet and padding will also need to be replaced. This whole process can be time consuming and costly.

Answer 3

The concept of Caveat Emptor (buyers beware) does not apply in most states any more. In this day and age, sellers are required to disclose to you, before contract is signed, any latent defects of material fact (defects that are not easily visible through the naked eye, and material fact means damages that will affect the value of the property). A flooded basement after heavy rain fits the description of a latent defect.

Usually, a real estate contract includes an inspection clause. You have the right to inspect the property in a certain period of time and it is the obligation of the seller is to repair the damage. Once the period expires, you are done. However, if the defect is a latent defect and was not disclosed, you may have recourse. Furthermore, if the seller deliberately conceals the defect, he is guilty of concealment.

At this point, you need to bring this issue up to the seller in writing and be sure to sign and date any kind of paperwork. Verify through you local real estate community, lawyers etc about local requirements concerning latent defects. Then ask the seller to repair the problem, discount the price or be prepare to walk away from the deal.

Answer 4

Here is an excerpt from a home buyer's guide I got off the internet...

"WARRANTY

There is no warranty on a used home. The legal phrase is Caveat Emptor - Let the buyer beware.
However, the buyer is entitled to a house in the same condition as it was when he or she signed the Offer to Purchase. If the seller knows of any defects which are not obvious and apparent, he must disclose these to the buyer before the Offer to Purchase is signed. Otherwise the seller may have to repair the defect at his expense."

I think this covers your situation. Maybe you should talk to your lawyer.

Answer 5

It depends on your purchase contract and disclosure laws.

If you contracted to buy the house "as is" and they mentioned it on the disclosure form that most states have, you are likely out of luck. You were told when you contracted.

If they didn't disclose the problem, you can be sure that they knew about it. You could come back on the deal, either asking for a credit or repairs. The solution is often to install french drains.

Get with your buyers agent. They know the law in your state forward and backward. They can tell you what your options are.

Answer 6

this is a question for a lawyer, you may feel you don't want to spend the money on a lawyer right now but it would be wise to spend a few bucks now and save a lot later. read your contract, when a bank offers you a mortgage its usually dependant on a bunch of conditions that have to be met, one usually being an inspection report from a qualified home inspector. if you've had an inspection and the inspector didn't find the leak then you have to bring that leak to the inspectors attention. good luck and don't do anything you don't want to do its a big investment.

Answer 7

I'm sure you have a lawyer. Or you should have a lawyer when in contract to purchase a house. I would consult him/her about this problem and see what action can be taken.

The current owner should be responsible for the cost of repair/cleanup of this condition. If they refuse, I would look for another home.

Answer 8

You can delay the closing.
If you still like the property, let them know that you want the problem fixed before you accept it.
To my knowledge, unless things are resolved, nothing is final until you sign the final papers.

Answer 9

don't close. Could be a lot more damage than you see. Contact a building inspector.

Answer 10

you will often find that in some regions of the country basements leak. you do know that concrete is pourus and it will happen agian...... I suggest removing the carpet and putting in tile...