If you are thinking if ealing with a property with mold/ roof/ plumbing problems, get a good inspector out there first to assess the situation. It could be a $500 fix, or it could be $50,000 to fix, depending on the mold damage.
Can the seller give you any information on the damage, how long it has been leaking? Hve they gotten an estimate on the repair?
Dont go into this blind. Get as much information as possible to make an educated decision.
Also, make sure the water is turned on for the inspection. Best of luck!
Make your offer contingent on inspection and financing. If you delay too long and it's a good deal, it will be snatched up by an astute rehabber who can take one look at it and estimate the return-on-investment (ROI) in a heartbeat. After the inspection you will be more knowledgeable of what needs to be done and be able to cost it out. If the costs to repair are too high, you can always renegotiate your offer. The lender will require an appraisal and won't approve the financing if the house value is lower than what you are borrowing. Build your team of experts and get some bids. If you lockup the property with a solid offer, it will give you time to more accurately assess the situation and costs involved. Build your team of experts now and get some bids.