Buying A Home With A Leaky Or Wet Basement

stock-photo-6454290-derelict-basementAccording to the statistics by Redfin Research Center, it is more likely for you to sell your home within 6 months in the winter months than during the spring. According to their numbers you are 65% more likely to sell your home in winter compared to 56% during the spring season and 55% in the summer months.  Regardless of the time of year you are planning to buy a home, there are many considerations to take into account, a wet or leaky basement being of the utmost importance for you.

Read more by following the links below.

Should You Buy A Home With A Wet Basement?

Since basements are built into or under the ground, there is always the possibility that water can intrude. Discovering moisture in a basement is rarely a cause for celebration, especially when this discovery takes place during the home purchasing process. If you’ve found your dream home only to discover that it’s in dire need of basement waterproofing service, don’t despair. Now that you’ve identified the problems, you can take steps to better understand whether it’s worth proceeding with your offer to purchase.

So, what’s a smitten homebuyer to do if they’re potential new home has a wet basement?  Is it worth salvaging or is it time to move on?  And how do you spot a wet basement?  Your London Ontario basement waterproofing experts at BEST have all the answers.

A Word of Warning

Whatever you do, don’t rely on seller disclosures if you suspect that a home has basement waterproofing problems. Sometimes even the seller may not know about the issue. Always insist on a home inspection as one of your purchase conditions. The home inspector will be able to identify any problems and provide you with a final recommendation.

You Bought a Home and the Basement Flooded. Now What?

Well-informed buyers may spend six months looking at properties, learning the neighborhoods, and gaining deep market knowledge. Once they identify a winner, they may spend weeks getting to know more about the property. They make several visits to the home, read through the seller’s disclosures, read the entire home inspection report — and even accompany the inspector as he investigates the property.

All’s well, escrow closes, and the home is theirs. And then, within a few months, something unexpected happens. A window leaks, the furnace goes out, or there is an electrical problem. Now what? Does the buyer have to cough up yet more money to fix the issue, or is it the seller’s responsibility?

It depends.

In most states, the seller is responsible and liable for disclosing to the buyer any defects or issues that would have a negative effect on the property. Additionally, the property inspections give the buyer the opportunity to identify and address any issues the seller didn’t disclose.

Wet Basement Woes

There is nothing worse in a home than a wet basement. Not only can it deter potential home buyers it can also present health problems, and permanent damage to your home. Tackling the problem of a damp or wet basement is no easy task. Here are some ideas to getting and keeping your basement dry.

Find the source

The source of the problem could be a water leak or high humidity. Both can lead to mold, mildew, or other biological growth. They can even lead to rot, structural damage, premature paint failure, and a variety of health problems.

Check for water seepage. Look for leaks in the foundation, or small gaps around windows or doors. Water can also come from inside your house from a leaking water pipe, toilet, shower or bathtub.
Indoor humidity is often caused by normal activities of everyday living, such as showering, cooking, and drying clothes. Damp basements are usually caused by moisture migrating through a concrete foundation. Other common causes are condensation on cold concrete walls and floors during humid months.

Stop water leaks

Standing water on the floor after a heavy rain is usually the result of a leaky foundation.

Make sure all rain gutters are cleared and downspout runoff away from the foundation.

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