Previous Leak and $28k Claim/Repair?!

4 Replies

Hello!

I am in Due Diligence on a deal, when I find out that there was a leak in this 1400 sq ft. town house less than a year ago. Turns out - the owner was out of town for 3 days when a toilet line busted and it affected all 3 floors of this townhouse less than 1 year ago. It even affected the neighbors garage!! Fast forward: Servpro serviced and Insurance fixed the repairs, basically everything seems new in this place, but I'm still not sure how to feel about it. I'm getting a certified mold inspection, but unsure of other concerns to look out for. Any input is greatly appreciated!

Proceed with the deal, or RUN???

Sounds like it was one time occurrence. If the repairs were done quickly, walls and ceilings open to dry out, there is little chance of mold growth or any structural problem.   It is much worse, imo, when there is a water leak and everything around stay wet for long time. Your mold inspector will probably check for moisture content in the affected areas.

Thanks Lukasz! I believe that's what has been done - just waiting for the reports to come back from the inspection now. I guess time will tell! 

Not too qualified to answer as I do investing in NM and CO which are dry climates and I know GA climate is a lot different. Timing is everything , how fast they fixed and removed and let dry out. Moisture test is key

Jake,

You may want to inquire with the Association to see what other losses have occurred in the past 5 years.  If there is a pattern of water damage losses it may indicate a problem with the plumbing work that was done when it was built.  

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