Mold and water in basement investment property

[Michael Mcguniess]

I am currently attempting to obtain a conventional loan with 25% down on an bank owned investment property.

There is a negative slope grading issue that allows water to flow towards the basement. As a result, the basement, which contains a garage and 3rd apartment has evidence of water and mold.

Most would say to pass on this house but it is at such a great price and the solution to the problem is obvious.

I am currently waiting on the appraiser to come out and examine the property. In the mean time, I am a bit concerned that he will document the water and mold problem, keeping me from obtaining the loan.

I already received estimates to fix the grading problems and am prepared to do so once I close on the house.The bank refuses to do any work to the home and is selling it as is.

Any thoughts on the likelihood that this loan is approved based on the mold and water problem?