Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago on . Most recent reply

Question about Possible water leak in an upstairs unit
I am looking at a 2 unit property in a nice area. Asking price $69,000. Offered $72,000. My real estate agent informed me that she received an addendum from the seller's agent, indicating that the water in the upstairs unit is off, possibly because off a leak, possibly from the bathtub. Should I consider pulling out of the deal? I am new to this. All responses we be welcomed.
Most Popular Reply

Hi if I could be of help to you let me first say that I am not a plumber but my father has been one for over 44 years as a master plumber. That being said I’ve done jobs with him. The worst that could happen is that there may have been a very small leak and over time you may have rotted wood that invites termites, or mold. If the leak was big then it would be noticed through the Sheetrock ceiling on the first floor underneath. It would look yellowish. So if it’s not noticeable right away then it may be a small leak. The question is how long was it like that. The longer it was left functioning with a small leak the bigger the chance for mold to develop. You would have to factor not just a plumber to fix the leak but perhaps a contractor to repair the dry wall and 2 by 4s or even pest control to detect if there were termites. As well as mold removal which could cost you even more. On the other hand, it may be a leak in the toilet valve which is very easy to fix yourself . There is just no telling. Just know what ever is broken can be fixed, and if it’s the worst case is it worth the risk. Other wise three is always other deals. I hope this helps.