Did you see the article on this home purchased in downtown Toronto for $533,000 planning to renovate!!?!!
We always talk about “location, location, location” but it goes without saying the structural integrity of the home should be considered also!! LOL 
The new owners had a crew digging down the basement …. much to everyone’s “surprize” apparently the home also had water issues with the foundation which had been attended to prior to the digging.
You see the result….
That’s a scary picture!!
Water management issues can be quite costly to remedy.
I don’t even want to imagine what would go through my head if I saw my house in that state. It’s really spectacular. Not in a good way
I read about this in the Toronto Star a while ago. I cannot believe how much damage this cost! And the owners were ordered to tear the building down. What a nightmare. Would a home inspection have caught the foundation issues?
Most definitely a qualified, professional home inspector would have caught these inherant problems! Quite frankly a good real estate agent should have also! The issue is that many Buyers get “wrapped up” in the frenzy of a multiple bid scenario and do not do the proper “due diligence” before buying unfortunately, sometimes with disasterous results.
I can’t believe that someone could get trapped in a house like that. I definitely agree that due diligince is a must. Often, we overlook minor flaws thinking it will be a quick remedy. More often than not, though, it is something much more major like in this case.
LOL i could not have said it better!!
Oh my Gosh! I live in Toronto and disaster doesn’t even begin to describe that. Horrible situation but at least no one was hurt…yikes.
I guess every detail of the property should not be overlooked. Even the seemingly trivial details such as water management should not be taken for granted. They may spell a huge disaster later on.
You are 100% correct …. nothing should be overlooked when buying a home!
I agree…water management issues are not only costly, but devastating in so many ways. Simply amazing….
What is to be said in this situation? There were many possibilities to avoid such a disaster, but they successfully managed to get rid of every one of them. Great job, but with a tragic end!
Good job of getting rid of the problem but bad job in the end. Sucks to be them but stuff like this happens. Would hate to be them because it’s something I would hate to deal with.
That’s actually very sad. Unfortunately we see this kind of thing all too often.
Oh my goodness!! I saw this photo a while back and thought it was one of those “Photoshop masterpieces”. I never considered that it could be real, and now that I know the background story, all I can say is, “Wow.” That’s just sad.
Water issues are so hard to deal with! About 30 years before I purchased my current home, there had been a house down the hill. Apparently the lot flooded every time it rained. Our town ended up with the property and tore down the house. If you ever walk down to the lot, there is an elaborate drainage system though you can’t see it unless you are looking for it. I can’t imagine what the family who built that house went through!
That is a complete nightmare! Did you actually say 533,000?! The purchaser must be batty right now. It always helps to do through research before even considering purchasing a property.
LOL i did not buy that home …. just reporting on the deplorable mess that Buyer got himself into!
I read about this in the Star. I’m very familiar with the community also. It’s a shame that the owners have to endure such a shallow investment. At a half a million evaluation the family could have purchase a home in Burlington (or Halton Region) double the size, and nowhere near the hassle.
It would appear that the home shoud have had a “condemned” sign on it from jump sreet. How was it ever listed, if I am understanding the situation? What a disaster.
That´s quite sad.
Such a huge investment literally floating away