Heavy mold bank owned property!

[Pete Erikson]

Hi, first time poster,

I recently looked at a bank owned property for my family(2200 sq ft, 3 bed 2 bath, ranch). Going into it I was notified that it had heavy mold which I planned on baking into the purchase. It was a lot more than I expected and feel that likely the entire house needs to be gutted. The basement is completely covered. I'm thinking the electricity was off at some point and the sump didn't kick in, cause it looks like about 3-4 ft of water was in the basement at some point. It also would explain why only some of the lights in the house and garage worked as the electrical box looks to have been covered.

The upstairs main level has mold spots throughout  the ceiling and walls. It looks like the roof needs to be completely replaced which would explain the mold in the ceilings. The house clearly is holding a lot of humidity as seen with the foggy windows.

I'm wondering if anyone has bought a property like this and what the worst case scenario could be? This would be my first flip and I'm pretty lost on what kind of price I'm looking at. I don't know if its even worth asking a contractor to come out an assess.

I'm thinking about 35K to completely gut and remove the mold from the basement and upstairs?

10K for a new roof?

12k for flooring?

7K for all new electrical?

All together I've estimating about 100K, but I honestly don't know.

I've included pics, first 3 are the basement its about 1/2 the size of the house, the bedroom has mold in the back closet, the kitchen has mold on the ceiling by the door, and also a random mold spot around a light.

Any insight is greatly appreciated.

Thanks!

[Shannon K.]

Also think about the ventilation/HVAC!  I looked at a property in a wealthy suburb near me with mold covering nearly all 1st floor walls 9 feet up. Made us sign a waiver to enter the place. (We brought masks cause I knew beforehand it had this problem).  

Bank turned off the electric, sump pump couldn't kick on.  6 feet of water from the basement all the way up the stairs to the first floor. By the time they began showing the house, all the HVAC ducts were molded/completely rusted and rotted out from the basement floor up throughout the 1st floor. All HVAC needed to be replaced. Hot water tank = no good. All duct work = no good. Furnace = no good. ~$50,000