water pump leak on 1997 BMW 740iL

just arrived and park at my drive way and I noticed that coolant dripping under the engine. I open the hood and saw coolant coming out the water pump behind the pulley. Please let me know where to start before removing the water pump? Hoping that the problem is the gasket only. Also please let me know why the gasket leaked? Is there any other parts need to check? Thank you in advance. Jr1997.

Asked by for the 1997 BMW 740iL
10-1 it is the internal shaft seal in the water pump. Behind the pulley, there will be a hole drilled up from the bottom, (weep hole) and most likely this is where the coolant is coming from.
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