Water in crawl space, high water line, sump pump out

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I found a potential investment property and looks like it could be fantastic to fix up.  The property hasn't be occupied for almost 2 years.  Unable to do an inspection prior to an accepted offer, I started looking around for any information I could on the property.  I found out that the property is on a high water table and there was a sump pump in the crawl space to help with excess water.  Then, I was told that 6 months ago that someone had visited the site, and discovered there was at least a couple inches of standing water in the crawl space.  Making me assume the sump pump was not running/functioning and the water could have been there for even longer.

I'm wondering what kind of damage the standing water in the crawl space could have caused.  What should I look for if we go in with an offer to do an inspection.  Has anyone had experience with something similar?  What was the result?  What did you have to do?  Should I even think about a property like this?

Sean – We had a property one time like this and we had to install additional sump pumps around the crawl space. I think we ended up with five at the end. What made it worse was the furnace was in the crawl in a block pit and we had to watch closely that the water didn't build up and submerge it. To make things worse, the property lost power a lot due to the location outside of town and the winters. In the long run looking back, it didn't cause drastic problems, but it was always an issue that needed to be watched. In your case, standing water is never good, so I'd figure out a creative solution (i.e. more sump pumps or fixing the foundation drainage) before going for it.