What to look for

Question

:oops: What to look for when buying property ? How to invest without using alot of money to buy the property? Because a family member wants to buy a piece of property near water but the property has alot water damage what should he ask about. :help:  :help:

Bryan Swallow · Answer

In regards to the question of water damage... A few things you'll like to know: What was the source of the water damage, is it dry,was it repaired, and was the damage properly addressed according to industry standards (S520 standard andreference guide for professional water damage restoration). An inspection of the structure would be in order, untreated water damage can lead to a variety of problems, including staining, warpage, deterioation of pressboard(cabinets and shelving), mold, termites and other critters.

Water is broken up into three categories when determining the effects on a structure, and what is needed to be done.

Category 1 is water that came from a clean source, such as a supply line or faucet. 
Category 2 is unsanitary water that could cause illness if consumed. Generally drains that break or back up that do NOT contain feces. Waterbeds fall in this category.
Category 3 is grossly contaminated water that has a high likelihood of causing illness or death if consumed. They have a high likelihood of containing micro-organisms or chemicals. Sewage backflows, flood waters that come from the outside in, wind driven rain.

Time is also a big factor. Over time, category 1 water can deteriorate into category 2 or 3. As a rule of thumb, water that has sat over 7 days (and is still wet), regardless of source, is treated as category 3. When dealing with cat 3 water, all porous affected materials are removed and discarded. This includes carpet and pad, drywall, insulation, and pressboard.

That is just a quick background for you, hopefully it helps when making your decisions.