If on the other hand you planned to request coverage the next day and had already found out the property was damaged at the time of requesting coverage you will potentially be out of luck. 

One mistake can damage you for a long time.

I have came across a house which have been damaged during heavy rainfall.

Good time to be buying if you can, but maybe even better in the near future.Like Dean mentioned Auckland is the place to be if you can afford it, that's where most of the population growth is and the supply and demand is out of kilter.Christchurch is a dead duck unless you know how to deal with Earthquake damaged, uninsured houses.Wellington is doing ok right now but is a "late starter".And the list goes on, feel free to PM me if you wish to discuss things more Indepth.If you don't live in NZ can I ask why NZ?

In your scenario, all you did was screw the seller, which may lead to him damaging the property and forcing the new owner to evict which also screws the owner.

They look nice unless they are damaged. 

If you do anything like changing locks, cutting the utilities, the tenants will sue you and they will win - and they'll win triple damages (see MGL Chapter 93A).As far as Fannie Mae Homestyle loans, I believe that they're for owner occupied only.  

So I would want to understand if I am just wishing for something or should just cut bait and move.Unless you have put up significant money to the seller... you don't really have damages so nothing to sue for. cancel move on. 

First is the Oil Burner Breakdown and the second is the smoke damage. 

I have no idea why it took so long, but since I was not seriously financially damaged in the end, I did not push the issue.