would this cause you to rescind your offer?

susie100March 12, 2014

Long story short: sold my condo about a month ago; houses in my area in my price range (about $100K) are in short supply. I looked at a likely prospect Monday (first day house was listed); liked it; wanted to get a contractor to go in and tell me difficulty/cost of moving laundry upstairs from basement. Tuesday, realtor calls and says there is another offer on this property, so I said I would like to make an offer contingent upon getting laundry upstairs, inspection, the usual suspects. Made offer today and asked to view house again, which we did after offer was made and paperwork filled out. It rained very hard today. Of course, you see things on second showing you did not see at first. Today there was standing water in the basement and I noticed long horizontal cracks in the foundation, all sides. I can afford to buy the house, but I don't think I can address what I perceive as a lot of present and potentially worsening problems. What would you do? I really liked the house itself; very charming.

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Was there any explanation for the water? I wouldn't be comfortable with it and would back out now.

    Bookmark   March 13, 2014 at 4:09AM
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Keep shopping...

    Bookmark   March 13, 2014 at 8:04AM
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Since you've already made an offer, I would wait to see what results from the inspection. But if this is not something that can be easily rectified, I'd use the inspection as an out and keep looking.

This post was edited by Chadoe3 on Thu, Mar 13, 14 at 12:31

    Bookmark   March 13, 2014 at 10:55AM
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Horizontal cracks are a very bad sign. Run!

    Bookmark   March 13, 2014 at 11:50AM
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Vertical hairline cracks or even diagonal cracks in concrete walls are fairly common...horizontal cracks of any length....RUN FORREST RUN!!!

    Bookmark   March 13, 2014 at 2:35PM
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