Need advice on purchasing a house with water damage

[KBennett]

The house is up for sale at a price well below market value because a 1/4" water line in the attic that goes to the swamp cooler froze and sprung a leak. I have not seen the interior yet except for a couple pictures of the ceiling around the swamp cooler that collapsed. It looks like some major drywall replacement and new carpeting.



Is there anything else I should be aware of? Would mold be an issue if it happened in the winter?

 

[AKAMAC]

I did a house 4 years ago that had an attic fire, the FD did a great job of putting the water in all the right places. In the process the water damage incurred was extensive.

I was able to get it for 147k. I put 3 weeks and about 20k into it. Sold it in 3 days for 220k.

Things to be aware of:

Hardwood floors are likely to be ruined.

As you mentioned "Mold. "

Under-layment will need to removed.

Suggestions:

It's better to remove too much drywall and replace than to patch.

Let a roofing contractor do the roof, the warranty is worth it. Not to mention the PITA factor.

Plan on replacing all flooring.

If floor joists are warped just cut and crib. Don't waste time planing them.

Pull permits, it makes it easier to sell.

If you plan on keeping as you home, don't scrimp, you won't want to do the job twice after you move in.

If you have any questions just ask. Mike