This is a bank owned property and will be sold as is.
My Partner Greg and I specialize in foreclosed homes. Let me know if you would like to make an offer or would like to see other foreclosed homes..
The property is not in a flood zone.
There are many possible reasons for the damp basement. In this case, the most likely cause is poor drainage around the house. If the rainwater from the roof just collects next to the foundation, the basement will become damp. This problem is usually rectified with some rainwater diverters (about $12 each at Home Depot). If parts of the property are sloped toward the house, then the basement can be damp because run-off water will run toward the house and sit next to the foundation. Another possible cause is a high water table. If a high water table is the problem, the basement would likely get water seeping up through the foundation during heavy or extended periods of rain in addition to general dampness. The high water table problem is usually remedied with a sump pump.
The basement may be damp for other reasons, but the ones I outlined above are the most common causes.
If I can be of further assistance, give me a call.
Prudential New Jersey Properties