If you also know that the repairs have been completed by a qualified restoration company --- would the knowledge of the previous damage cause you to not want to purchase the home or condo? Would it affect the price you were willing to pay?
2007-06-15 09:23:45 · 4 answers · asked by AriesJWR 4 in Business & Finance ➔ Renting & Real Estate
Not at all, if proper repairs were made and the cause of the leak remedied as well. There is no reduction in value because of a previous damage situation, as long as the unit was restored to the original or better condition during the repair.
2007-06-15 09:36:40 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
I would ask the owner to have the restoration company disclose the full extent of the repairs. Then I could make an informed decision. In additon, building codes change over time. You may actually be looking as a structure that has been updated as well as repaired so you may be getting a deal.
2007-06-15 09:34:10 · answer #2 · answered by brotherlove@sbcglobal.net 4 · 1⤊ 0⤋
Run! Even with a with a ASHI home inspection there may be hidden damage and mold. I wouldn't buy one no matter what the price. I have seen basements with bars every 8", buckled walls, black deep mold in basements and throughout the houses, damaged foundations and furnaces. If you sell the property, you will have to disclose all this, which is another factor.
2007-06-15 09:34:19 · answer #3 · answered by Ginger 6 · 0⤊ 0⤋
No really.
2007-06-15 09:31:11 · answer #4 · answered by Alterfemego 7 · 0⤊ 0⤋