Things To Know About Buying A Home With Mold
Mold is no joke, and it could be a huge deal breaker if you’re trying to sell a house.
However, it is not impossible to sell or buy a home if mold is present. The two issues regarding mold for both buyers and sellers are health risks and the costs of fixing the problem. If you’re faced with this issue, here is your guide to selling or buying a house with mold.
What is Mold and What are the Health Risks?
Mold is a fungus that grows indoors and outdoors in damp areas. It usually grows in bathrooms, basements, attics, and crawlspaces. Mold can be identified by its fuzzy, velvety, or leathery appearance.
Toxic mold or Stachybotrys chartarum can pose potential health risks. Symptoms of an allergic reaction to mold include coughing, runny nose, wheezing, and shortness of breath.
Those with compromised immune systems, infants, and the elderly are most vulnerable to experiencing an allergic reaction to mold. Also, there is a correlation between asthma attacks and black mold exposure.
Selling a Home with Mold
If you plan on selling your home, it is best to first inspect for mold before you put it on the market. If you put your home up for sale while mold is present, it could make selling even more difficult.
Therefore, it is crucial to thoroughly inspect moist or non-ventilated areas of your home. Check furniture, walls, air conditioning units, and ceilings for black spores. Also, be on the lookout for a musty or earthy odor.
Most cases of mold found in bathrooms or kitchens can be easily remedied by cleaning the area. However, other cases where there was flooding or a leaky pipe or roof could cause great damage to the home and affect its structural integrity.
In a severe case of mold or if it is present in small and non-ventilated areas like crawlspaces or attics, it is recommended that you seek the help of a professional mold remover.
Once the mold is removed, get a professional inspection and have it for your records. Depending on your state laws, you are required to disclose whether your home has mold and if the mold issue was resolved.
Buying a House with Mold
Buying a house with mold is acceptable but depends on many factors. One thing to consider is your budget.
If your appraiser finds that the mold is dangerous, then you may be required to remove it before purchasing it. Therefore, it is ideal to buy a home with mold if you can afford to have the mold removed.
Also, mold greatly decreases the home’s worth so you could possibly get a discount on the home if mold is present.
Another thing to take into consideration is your health. If you are sensitive to allergens, then it is not wise to buy a home if it has mold.
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