Territory Real Estate
Serving Home Buyer's Exclusively
617 848 5407 ext 704
The selling or listing agent gets their information from the seller. If that was NOT disclosed to the agent then there is nothing for the agent to share about the home. If the agent was aware of the flood then that is a totally different story as every known issue should be disclosed to a potential buyer.
Louis also made a good point about home inspections. Did your inspector uncover the issue ?
Also your home inspector would in most cases be able to identify if there has been past water issues in the basement.
If water in the basement is an on going issue then yes it should of been disclosed. If it was isolated then it would not necessarily be disclosed.
I believe all parties to a real estate transaction should practice the Golden Rule.