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Flooded basement

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First of, I live in Ohio. When we purchased our home in November 2000, the seller signed the disclosure form and wrote that there has never been any flood damage in the basement. They lived here for 7 yrs. We had a heavy rain last night and my basement is completely flooded. The water did not come from the sewer..it came from the walls in the basement. Before we moved in, the seller put Linolium up on all 4 walls of one of the rooms in the basement, I assume to hide the water damage from a previous occurance. One of the other finished rooms has wood paneling on the walls and there was mold halfway up the walls when we moved in. They swore to us that there had never been any water damage. We signed our purchase agreement "as-is". Does that stop us from going after the seller for our current damages even if he lied in the disclosure statement about previous water damage? Thank you!

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