In article 7253f161224a4@uwe, "cherie9g" u34288@uwe wrote:
I am looking for some assistance. I have considered purchasing a home that
is worth $190,000 for $126,500 and the reason that it is not selling is
because the house was foreclosed and throughout the fall/winter period, the
sub-pump broke and the basement flooded, leaving alot of moisture in a house
that was locked up.

Other posters have addressed the mold issues pretty thoroughly. I want to
address a misconception that you appear to have regarding the financial
aspect of this house.

It is NOT "worth $190,000".

If it were, you wouldn't be able to buy it for only two-thirds that much. What
you're considering purchasing is a home that MIGHT BE worth $190K AFTER the
mold problem is fixed. Or it might be worth only two-thirds of that.

The market value of something -- a home, a car, a loaf of bread, whatever --
is what someone is willing to pay for it. No more, no less. What an appraiser
or some "blue book" says it's worth it not relevant: if nobody will buy it at
that price, it isn't worth that much. Nobody's buying this house at $190K, not
even you. Ergo, it isn't worth that much. It might be someday, but it isn't
now.

--
Regards,
Doug Miller (alphageek at milmac dot com)

It's time to throw all their damned tea in the harbor again.