Posted by Karl (Oh) on May 04, 2008 at 21:10:45:
In Reply to: Would you buy a place with busted pipes? posted by bmbingham on May 04, 2008 at 19:48:15:
When I buy bank repos, I assume the waterlines are busted, like Tony said. Even if the bank has winterized the home, that doesn't mean they got it done before the first freeze. So antifreeze in the toilets doesn't mean there's no problems.
Waterlines are easy to repair or replace (relative to any other rehab work). You'll miss a lot of good deals if you only buy homes with no leaks.
Is this home a repo or a private seller? If FSBO, its an opportunity to get a better price.
Karl