Inspection went fine...but basement wall gives me pause

[Simona Potocar]

Hi Folks - I'm enlisting your collective knowledgebase again because I'm looking to purchase a home to live in, and on the surface things seem ok. 

Just had the inspection - the biggest issues found were a bit of mold on the drywall in the basement. The drywall is not truly close to any water source and the inspector felt it may have been due to a leak in the hot water tank. 

The part that sort of gives me a sinking feeling is the basement walls. The inspector didn't see any issue, and indeed they aren't buckling, there isn't water damage or anything.  However, when I called the company that did the water proofing (or what the listing agent thought was waterproofing) turns out they weren't out there to water proof at all!

They were out there because the wall had buckled.  The previous owner of the home (now deceased) had hired these guys because they were his family (and he himself was a bricklayer) and they came out and dug up the wall and fixed it.  The guy who did the work called me and said that it was one of the most fortunate cases ever because the wall just popped back into place (and evidently that only happens 10% of the time) and they sealed it and everything was fine (this was around 2007).

Would you guys still buy this house knowing this information? Should I just back out now? I love everything else about this house, so I know I'm just being emotional about the purchase so I'm looking for objective opinions.

Thank you so very much for your help.

[Simona Potocar]

@Sharee Mason  Thanks for that response! I did talk it over with him, he feels the work was done well.