We are in the process of looking at houses in the Chicago suburbs. We’ve visited a handful of houses and there is one we really liked as it meets many of our needs and is within budget.
However, prior to placing an offer we asked our agent to get more details regarding flooding since we noticed a FloodFactor rating of 6/10 despite the home not being in a FEMA flood zone.
Our agent looked into the disclosures and found that the current owner disclosed that he has had water during heavy rain because the storm sewers couldn’t handle heavy rains. Our agent advised we would need backup endorsement on your homeowners insurance.
The seller comment on the disclosure form states the basement has had some water during heavy rains 2 times since the owner lived there & that the basement pump removed all of the water with no issue.
Is this issue serious enough that we should re-consider making an offer? Should we just keep looking? We like the home, but I’m worried this could be a hassle or evolve into a bigger or more expensive issue down the line if we were to proceed.