If you're considering putting your home on the market and the house has an ongoing mold problem, what's the preferred strategy? Should you offer the house at a discounted “as is” price—mold contamination included? Or is it a better idea to take control of the issue and get professional mold remediation services now, before trying to attract prospective buyers? Here are some facts to take into consideration when you're selling a house with a mold problem.
- You can't keep it secret. A known mold issue—or even knowledge of conditions that would likely trigger contamination such as water damage—are facts that, in most states, must be divulged to prospective buyers in a pre-sale disclosure. If existing mold not mentioned in the disclosure is discovered after the sale, the seller may be liable for civil damages.
- In the real estate industry today, the presence of mold is considered a substantial liability. Neglected mold contamination is often a deal-breaker or at least a substantial negative impact on market value.
- Many qualified buyers won't make an offer on a house with existing mold issues—at any price. There's simply less risk and headaches by offering fair market value on an uncontaminated property, versus dealing with potential issues that accompany the moldy house down the street.
Before You Sell
Mold issues resolved by a qualified mold remediation service eliminate the stigma that drags down a home's value. In fact, proof that a house has been certified mold-free by trained professionals is a positive selling point.
- If you know or even suspect mold contamination, get testing and inspection by an IICRC-certified mold remediation provider. This includes in-depth visual inspection in areas where mold is likely to occur, air samples to detect mold spores, and attention to secondary factors associated with mold, such as ongoing moisture issues or home water damage.
- If the presence of mold is confirmed, have the problem professionally resolved before listing the house for sale. Once the home is declared mold-free, you'll have written certification to substantiate that fact as an extra inducement to attract qualified buyers and the most favorable offers.
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