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Mold and Its Effect on Home Sales
By the RestorationSOS Educational Staff
Home ownership is one of the greatest aspects of the American dream. And in today's market, buyers can pretty much write their own ticket. Home values are at all-time lows, which is bad for the seller, but great for those looking for a first time purchase or just a property to invest in. With a little patience, you can find a great deal for a much better than average price.
Of course, knowing that if something is too good to be true, then it probably is, there is a sticking point. On today's market, houses tend to sit vacant for extended periods of time. With doors and windows firmly shut, and air conditioners not running, it becomes very easy for excess moisture and humidity to build up inside the house. Any time you have a moisture buildup, it is almost a certainty that you will end up with mold. Mold may even occur in new housing construction, again, if the home is left alone and unventilated for an extended period.
How Mold Can Affect a Home
The health concerns related to mold are well known. What most people don't know is that mold can actively work to damage the structure of any home in which it is found. This is because mold by its very nature destroys the surface on which it is growing. This may lead to the breakdown of wooden support structures within your home, as well as the weakening of floors and ceilings.
Mold inspections should be a regular part of any home purchase process. Having a qualified inspector check out your prospective purchase from top to bottom will let you know if you have mold problems to overcome. These issues should be resolved before the final purchase is made, and certainly before anybody moves into the residence.
Tips for Sellers
If you are a seller, a mold inspection can be a big plus for potential buyers. Being able to produce a mold inspection certificate pronouncing your home 100% mold-free is a big advertising plus. Buyers will appreciate your commitment to keeping the home well maintained and free of any issues.
If mold is found in the home, the seller should assume all responsibility for the costs involved in getting it properly remediated. The seller is required to disclose any and all mold or water-related issues with the home prior to sale.
Tips for Buyers
If you are a buyer and you make an offer on a house before the mold inspection is done, make sure to include a mold clause in the agreement, making the purchase of the home contingent on an inspection being performed and the seller assuming responsibility for addressing any mold or other water damage that may be found.
Should you buy a house with a mold problem? That is up to you. In many cases, mold may be successfully remediated with no further problems to be experienced. On the other hand, mold may become a recurring issue costing thousands of dollars to combat over a period of time. At the end of the day, you have to decide if you are willing to take on the responsibility that comes from a house where mold is present.
Mold and Your Property Value
Types of Mold and Their Effects
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