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Best of luck. Please bear in mind that, unless you are doing the work yourself, bargain houses are seldom bargains. Why go through the whole process of fixing up a house, when in most cases, for the same total amount of money, you could have just purchased a house that doesn't need fixing...

An inspection is cheap insurance. Don't buy a house without an inspection. Water in the basement is BAD NEWS, and is a good reason to consider a different house, unless you can get this one cheap enough to more than offset the cost of repairing the damage, and fixing the cause. Before you...