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Archive: Aug 2016

  1. How to Keep Mold From Killing the Sale of Your Home

    So you’ve decided to put your house on the market. You spruced up the paint, had the carpets cleaned and maybe even installed a few upgrades throughout your home. You list your home with a great realtor and your house is under contract in a matter of days. The day of the inspection rolls around and you get a not so great call from your realtor: the inspector found mold.

    The Inspector Found Mold: Now What?

    Take a deep breath, mold, while a nuisance, can be remediated. You cannot control the buyer’s reaction. They may hear the word mold and run or they may stand by your house and weather the storm. Either way, you have a mold problem that must be rectified.

    What Does Remediation Look Like?

    mold

     

    Honesty is the Best Policy

    It is important to address your mold issues head on. Like it or not most buyers will likely expect professional mold remediation with lots of documentation paid for in large part by you, the seller. Be sure to not only take the proper routes to correct mold growth in your home, but also find and fix the source of the problem.

    *Please note that every state has different requirements when it comes to the seller’s responsibility to disclose mold issues. Please contact a licensed realtor or real estate attorney in your state for more information.

  2. Is Mold a Home Buying Deal Breaker? Not Necessarily

    The housing market is hot here in the Raleigh area. Homes are selling in a matter of days. So what happens when the house you’re in the process of purchasing has mold?

    You found your dream house, your bid was accepted, it’s time to get the ball rolling towards closing. The day of the inspection comes and you’re told the house you are buying has a moldy secret. Is mold a deal breaker? Should you kiss your earnest money goodbye? Not necessarily.

    Should You Stay or Should You Go?

    • The Home Inspector Finds Mold: If the home inspector finds mold your next step should be to contact a mold company to assess the issue and determine if a third party testing firm needs to be brought in.
    • Price and Timeline of Remediation: Consider the time and money it will take to properly remediate your mold problem and decide if it is worth the price.
    • Determine Seller’s Willingness to Negotiate: Is the seller willing to cover or at least share the cost of remediation?

    There is no formula to determine if the presence of mold should warrant walking away from the house you are trying to purchase. Every situation is different. The amount and type of mold and the underlying reason for the mold are all important factors to consider. Seek advice from your buyer’s agent and a mold specialist to help you make your decision.

    What Does Remediation Look Like?

    Some amount of common mold is present in every home. However, if you are facing a larger mold issue, here is a list of what you should expect from a reputable mold remediation specialist:

    • Assess the size of the mold problem and identify mold-damaged materials.
    • Identify the source or cause of the moisture problem.
    • Plan the mold remediation strategy and adapt guidelines to fit the unique situation.
    • Remove the mold growth and remediate the affected area.
    • Fix the water or moisture problem.
    • Clean and dry moldy materials.
    • Discard moldy items that can’t be cleaned.
    • Perform follow-up inspections to check for the return of moisture and mold.

    Let Your Budget and Health Be Your Guide

    If you have the time and money to make repairs, buying a house with mold may be a viable option for you.  If however, you have health issues or time constraints, it may be in your best interest to walk away from the deal.

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