Problems discovered after due diligence but before closing. What now?
March 29, 2014 2:04 PM Subscribe
First-time home buyer here. We're about two weeks past having had a home inspection and our due diligence period. In moving furniture in the basement, the seller has discovered a water leak, effervescence and mold. See pictures below:
The seller emailed the following to her realtor along with the above pictures:
"In the interest of full disclosure I would like to convey this information to the prospective buyer.
I understand that this maybe a significant concern. I do not have the flexibility to remedy any problem associated with water in the basement at this time. I do not wish to be held liable in the event that buyer finds it necessary to make repairs in this regard.
Also, after making requested repairs to the water line ( changing pressure valve) water pressure in the house has signifcantly dropped and water stream is very low if two or more facets/appliances are used at the same time. Not sure what is the cause. I know that water line is original."
Our realtor has suggested it may be due to clogged drains. FYI, the house has a septic system, with a new tank having been installed in 2010.
Right now, we're kind of freaking out. What are our options here? What should our next steps be? Thanks!