Just took a look at an REO that's on the market. There's ugly wood paneling throughout the house, and in several spots large areas of the walls are warping. (This is separate from a couple of spots in the corners of the 1st & 2nd floors where there have obviously been some bad leaks).
For those that have seen this before, what is warped wood paneling a sign of? That there's been moisture in the walls all throughout the house? (Still in the process of fine-tuning my rehab assessment skills, lol.)
Also, here are a couple of pics (sorry if they're rotated the wrong way, couldn't figure out how to undo that):
You're correct- it's a sign that there was moisture at some point. If it's a cheaper paneling with a fiber board base and a laminate wood surface, it won't take much moisture for it to warp- that kind of paneling isn't even supposed to be used below grade because of it's high reactivity to moisture. Hope that helps.
If that second photo is a basement then it looks like it has mold. You probably have to gut the entire basement and do some level of mold remediation.
Yes, @Phil Z. --the second pic is one of a moldy basement. Definitely going to need some mold remediation work.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing