leaky water line from swamp cooler reveals leaky roof

[Tom R.]

I am in the process of buying a house which needs a lot of mostly cosmetic repair. I am purchasing the house as is and below appraisal value. One of the problems it has is water damage from a leaky swamp cooler. The seller claimed to have repaired the leak and a visual inspection of the roof looked to be in good shape. Today when I got off work I drove by the house which is vacant to discover water running down the driveway. The water turned out to be from the neighbors draining their pool. That's when I noticed water running off the roof. I discovered the water pipe running to the swamp cooler had ruptured and was spraying across the roof yesterday there was no leak. I shut off the water and went inside to check and low and behold the roof was leaking not only under the swamp cooler but also in the enclosed patio. I was initially upset but I had budgeted for roof repair just in case and realized its better to discover the roof leaks before I repaired the water damage than after. Just today the lender requested a roof inspection due to the water damage. I might have to get a repair escrow in order to close on time but even after the roof repair I believe I will have an ARV of around $40000 more than what I spent.