Water damage not disclosed on sellers disclosure
Closing on a house in just over a week, and found out yesterday through applying for home owners insurance that the sellers did not disclose a claim for $100k (buying house for $940k) for water damage from a "leak" in the kitchen. It seems like they purposely did not disclose this because they did disclose a claim for the roof 10 years ago, but nothing about the water damage. I am waiting on documentation about the water damage claim.
Everything I am seeing says sale/resale value goes down when there is water damage, but there was no discount on sales price. My insurance is also going to be $1,300 more per year due to this. I am in FL so insurance is already an issue in and of itself.
I am in love with this home. It is in the perfect area for me. The sellers have offered to pay for a mold inspection, but I feel like I am still going to be getting screwed by paying full price even if there is no mold if water damage truly reduces value.
Should I cut my losses? Ask to reduce the price? Please give me all of your advice and opinions.