Buying a property with potential water damage

[Kish D.]

Would you buy a HUD home that is well under market value and is listed as being in good condition by the bank but it appears there could be some water damage (looking at pictures)? I am planning to do some more due diligence and getting someone out there to estimate the cost etc. but wondering if anybody have experiences dealing with water damage (mostly advice on whether I should steer clear of these types of properties)?

Thanks!

[Patrick Liska]

Kish, find out why there was water damage, see what the possible solutions may be. can you just regrade the property? do you have to dig around the foundation- re-water proof and add drainage?, will an interior drainage system to a sump pump resolve the problem? check all the roof gutters and leaders - do they drain away from the house properly. if this has been damaged by water, be careful of mold, that may have to be cleaned up. your most expensive solution would be the re-water proofing and drainage. but if you can get it for a good price and still make money on it after the work, why not buy it.