Before you sign on the dotted line, here is what you need to know about the risks, the costs, and the strategy for buying a water-damaged property. 1. Spotting the Signs: More Than Just a Smell
Buying a House with Water Damage and Mold: A High-Risk, High-Reward Strategy buying a house with water damage and mold
: Most homeowners spend between $1,200 and $3,750 , with a national average of about $2,300 to $2,400 . Before you sign on the dotted line, here
: Mold can reduce a home's value by 10–30% , giving you significant leverage to ask for a lower price or seller credits. 200 and $3
While a "musty" or "earthy" odor is a classic indicator, mold and water damage can be deceptive. During your walkthrough, look for: