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Hotwater heaters can put your closing in hotwater
My client was closing on Friday on their first house. They had access to the house before closing because there was work they needed to do to get their financing. The hot water heater broke at the seam and flooded the basement. This was situation was found at the water meter reading. We are going to end up closing this deal on Monday but you should be aware of leaving the water on in a vacant property. I never realized the frequency of hot water heater failures. I guess since I have not experienced this it did not occur to me the damage an older heater can do on a finished basement. This hot water heater was only a year old and if just burst at the seam. Approximately $8,000 in damages. If you go on vacation or leave your house vacant for an extended period of time remember hot water heaters fail without warning and you should turn the water to the house off. Also you may want to check your homeowners insurance to make sure finished basements are covered.
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