HELP: Made an offer on a home, but upon inspection found wet carpet in the basement

Before you ask, we had conditions in the offer and don't have to buy the house at this point if we don't want. We aren't locked in and getting screwed by this yet

Price range: 300-350k

Location: Edmonton / Spruce Grove / Stony Plain – Alberta – Canada

My Fiance and I have been looking for our first home and found a beautiful home in our price range. In nearly every way, this home dominated the competition.

HOWEVER, during the inspection we found a wet patch of carpet in one of the closets in the basement, as well as another spot on the same wall just outside the closet. There were also sowbugs/woodlouse present (6-7 dead, 1 alive).

My gut is telling me foundation leak and a major problem (there was a small crack in the foundation on that side of the home, but in a different area)

This home is hand down better than everything we looked at, but this problem will be pricey to fix, but I have no clue how much.

What do you recommend I do in this situation?

More real estate tips at Program Realty Wix site

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