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Did you use a good RE agent? If I felt I had a good broker, I would start there. You will need an attorney for sure, but perhaps your RE agent has had this kind of experience and can also give you advise beyond what you will get on this forum. We once had a house that with a water in the basement issue. The water was coming in from the window wells and we installed a french drain. This was waay back before disclosures. We did tell the buyers about the french drain and why we'd installed it. Years later (like 25 years later) I drove by that house - I'd long since moved away from the area and was back visiting. The owner came out wondering why I was stalking the place and when she found out I was the original owner she took me on a tour. Her only beef with the place was the basement leaked water along that very same wall, and the owners didn't disclose it!!! Guess there's never a permanent solution to these kinds of issues........ Sorry you are having to deal with it. I do sincerely hope you find a solution.
Even with wall seepage (I'm assuming you have a block foundation - yes?) the french drain should catch the water.
Is the french drain installed around the entire perimeter of the basement?
It does sound like it may be time to lawyer up, but I'm pretty curious on why you're having issues (or why the previous owners did) if there a french drain in place.
For what it's worth, I myself have an interior french drain installed in my basment - and it's a completely transferable lifetime warranty. I just can't wrap my head around why there has been an ongoing issue if a drainage system has been installed.
What caused the flood this time? I do not believe that you had mentioned the reasons why it flooded this time around. If you did, I apologize for asking the question; however, I am failing to see exactly why it had flooded. The seller disclosed that it had flooded, and repairs were made. I am not defending the seller, but the seller did disclose this information according to your post.
Out of curiosity, are you located in a flood zone?
One would think that if the improvement had flooded multiple times from the city's pipeline, the city would had made it a priority to permanently fix the issue(s).
From an Appraiser's point of view (value stand point), I hope you did not over pay for this property, and hope you can manage your resources well enough to sell in the future, without losing, and putting yourself in an economic straight jacket. An improvement that has flooded multiple times doesn't bold well for future loans, as well as, value of the property. A competent Appraiser would have eventually found this information for their client (the bank), and warned them of the potential of losing monies, especially in this economy. This is the type of information an Appraiser would bother themselves with by looking more into it and analyzing it. I think the Bank's Appraiser failed their client, as well as, the asset itself (economic health)
Good luck to you, as a flood is not a good situation to be in, economically, with regard to real estate. Also, I have lived in houses, growing up, that were flooded, and it is not an ideal problem that can be solved quickly and easily.
Quote:
Originally Posted by Chuckity
Even with wall seepage (I'm assuming you have a block foundation - yes?) the french drain should catch the water.
Is the french drain installed around the entire perimeter of the basement?
It does sound like it may be time to lawyer up, but I'm pretty curious on why you're having issues (or why the previous owners did) if there a french drain in place.
For what it's worth, I myself have an interior french drain installed in my basment - and it's a completely transferable lifetime warranty. I just can't wrap my head around why there has been an ongoing issue if a drainage system has been installed.
Our french drain is on the one outside wall of our house. It look like a trench with gravel filled in it. So it's the north wall that is halfway underground.
Our french drain is on the one outside wall of our house. It look like a trench with gravel filled in it. So it's the north wall that is halfway underground.
So the seepage is coming from another area? Yes, you need to contact an attorney.
(FYI - my interior french drain system does not have open exposed gravel. It's a clean, cemented over system.)
Do you think you would lose $20,000.00 in equity if the property went on the market tomorrow, without a basement?
Well without the basement I lose 2 bedrooms and an office. So makes my place lose 1000 sq ft. I am not an appraiser but I think I wouldn't make my money back.
So the seepage is coming from another area? Yes, you need to contact an attorney.
(FYI - my interior french drain system does not have open exposed gravel. It's a clean, cemented over system.)
Yes it's coming from another wall but today water started seeping through the wall where the french drain was supposedly installed.
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