I'm going to tour/examine this house this weekend. I can do plumbing, roofing, sheetrock, electrical etc., but I've never dealt with serious water damage.
Obviously, the systems will need to be replaced, as will outlets and any submerged electrical connections. Also, I figure any sheetrock in the basement will need to be torn out and replaced. One of the things I'll look for is to see if mold and/or mildew has spread beyond the areas that were soaked.
What else should I look for?
For what it is worth, the house is on the market at a serious discount versus similar houses in the neighborhood that don't have flood damage. I've advised my parents that whatever they save if they purchase the house, they should expect to put that money right back into repairs. I.E. there is no free lunch.
Thanks in advance...