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I've got a question:

A sale of a home was agreed upon for $420,000. A last minute inspection was done and foundation damage was found in one area. Engineers estimated the damage would cost about 30,000 to fix. The sale of the house was re-worked to an as is sale for $400,000.

I say there can be no casualty loss here because there was no suddeness to the loss. The damage could have been there for 20 years for all we know. Am I reading into this right?

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