Purchasing First Home

**JPGreco** · 03-21-2011, 09:03 PM

Really, a backup or pipe causing water damage would really mess with insurance that much? I understand flooding, but the others are a bit absurd.

Anyways, I would put in another offer. I mean, why not? How extensive was the mold damage? Often its isolated, even if its the result of a leak in the roof, the water tends to follow the same path. Remove the drywall and toss. Any mold growing on the framing of the house can be sprayed with a bleach and water mix to kill it. Cabinets can be cleaned as well. Really, the only things that mold really can't be killed in well is the drywall and carpeting.

If the mold is very extensive, the sellers will have to remediate it before selling most likely. If you are handy and don't mind the challenge, you might be able to pick it up minus the cost of the remediation. You might need the pros to do the initial clean up for insurance's sake, but you can do all the repairs afterwards and save some cash. Its a good time to do any renovations you would want to do as well.

**Rick** · 03-21-2011, 10:23 PM

It doesn't even take an actual claim to hose you up. Let's say your kitchen sink leaks inside the cabinet. You find it a couple of days later and you figure you have some work to do. You call your insurance agent to verify your deductible and tell him why you're calling. You don't even have to file a claim for the agent to enter that information in the CLUE database. Four years later you try to sell the house but no insurance company is willing to insure it so buyers are backing away. Water = Mold and no company is willing to take the risk.

Here's a good article that goes into a lot more detail.

http://www.privacyrights.org/fs/fs26-CLUE.htm

**roar-k** · 03-22-2011, 07:55 AM

The mold looks like it's trying to colonize the house and maybe one day turn into a creature. It's quite extensive and the amount of money it would take to do all the repairs necessary would cost more than the house is worth. Oh well, we will keep looking and see what else is out there. I will probably put in another offer, but just for the land and see what happens. I am not against building a house, just need the land to do it on.

Thanks friends.

**roar-k** · 04-21-2011, 11:29 PM

Have an update for you all regarding my quest to find the house. Well, we have found it. God is good and that's all I have to say. We have been looking and looking and we have either been outbid, been late, or bad luck looking for houses, but that has changed. We have found an old cabin sitting on 2 acres that was handbuilt from the lumber cleared where the house is sitting. There's a small creek along the border of it and it has a 1/4 mile long drive way that has 3 other homes. There is also another 6 acres we might be able to purchase bordering the land the house sits on.

I visited today and it's sound. Only bad thing is the house sits right along the property line, I am talking 5 feet or less away. They have tried to purchase 25 feet back along the property line, but no luck. So far so good though.

**Alaskan Survivalist** · 04-22-2011, 12:33 AM

That sounds like a nice place. If that does not work out you might go about it another way. Look for undeveloped land. Financing is always easy on that. You can often find houses that need to be moved very cheap and put it on the property. With so many upside down on thier morgage these days you want to add as much value as you can. I don't know the market in your area but you should check into the possibility. I would have suggested it sooner but just saw this thread.