Twice the usual rainfall in the GTA this year.

Our ceiling leaks in numerous places and half the basement floods. (OK, as it's a teardown that will be sold to a builder later this year.)

Absolutely get that roof inspected pronto. Once the ceiling actually leaks it's often not just the roof shingles that need to be replaced. Soaked insulation may have to be removed and replaced; mould growing on the underside of the roof sheathing may have to be removed by media blasting.

The basement is a separate problem; if it's not finished, not an immediate concern. The cure is often as simple as: 1) cleaned properly sloped eavestrough; 2) re-grading, and 3) downspouts that take the roof water at least ten feet from the foundation.

Thanks for the suggestions, we now have an inspection scheduled for Monday morning!

Great, id be curious to know what they find.

We had a home inspector go through the house this morning and I cannot thank you both enough for the suggestion!! Great inspector who did a thorough job and things are not nearly as bad as we thought. Leak in the upstairs ceiling was from rain getting into a vent during a bad storm - otherwise everything is dry in the attic. The major basement flooding is caused by poor grading around the house and poorly designed gutter system. He said it looks like it has been flooding for years (PO told us she'd only had one flood). Some water seeping up from the basement floor is to be expected in this area due to the high water table. Wood siding near the roof is really old and rotting so should be replaced with siding before there are leaks but ok for now. No asbestos anywhere. He was horrified to find a live, leftover knob and tube wire in the basement but it is easily disconnected. Small leak under the toilet so seal needs to be replaced. He couldn't explain the 'puddles' on the floor as everything is dry so it was either our dog or a ghost :) So no major unexpected expenses and our minds are at ease!! Thank you again!

The PO always states that they've had only one flood! At least, that's my experience. You are not alone! All our basements here (100 year old homes) get some water in times of heavy rain. Basement water can really be stopped or greatly reduced with good grading and a good gutter system. It sounds like you are doing well. There's a certain amount of panic with every new home, especially if you haven't had an inspection before purchasing. Rest easy; everything you have cited is fairly typical of routine stuff. Curious about the second floor puddles, though--report back on those!!

Thanks quixote - its nice to know sometimes people actually read these blatherings!

For future reference.... you are correct that not having an inspection contingency probably gave you the advantage when making your offer. However, theres no law that says you cant have "someone" coming along with you for a second look at a house, before you decide to write the offer, and that "someone" could be your uncle or it could be someone youve paid to do it. ... you really wouldnt have to disclose their identity to the seller or anyone

Breathe a sigh of relief for the roof. Of course, I paid for a roof inspection on an investment property and was told it was fine. After taking possession, it leaked anyway and had to be replaced.