Bought house. Inspected. Leak around patio doors. Prev. owner agreed to fix. Leaky windows. Black mold throughout entire wall from 2nd story to basement. Wood rotted. Contractor remembers wettness years ago when he installed patio door. Prev. owner claims did not know about leak but agreed to pay 50% of repair costs. Each day we find new mold. Not safe to move family into. Cannot afford to replace entire 2 story wall.
If you can get a strong written statement from the contractor, you may be in position to rescind the sale, or at the very least to pursue damages against your seller for the full cost of remedying the situation. Much is at stake here - you should immediately contact an experienced Iowa real estate lawyer.