What To Do When Selling a House With Mold
Now what do you need to do when you’re looking at selling your home that has current and active mold spores inside of it? This can be very minor surface mildew, mold type of thing that comes in bathrooms and wet places or it could be the very dangerous black mold that can severely affect your health and be a significant health risk or concern. So what you most importantly need to do is disclose. Disclose everything that you are personally aware of, so then you are not liable for anything that happens after you sell the property.
Example #1
So say for example, a chimney has been leaking for the last two years. There is a huge wet, moldy spot on your ceiling in one of the rooms. In this particular situation, you are aware of what’s going on, the chimneys leaking, you know that. The wet spot has been in the room for the last two years, you know that. And now there’s mold forming in that room and it’s starting to creep across the ceiling and go down the walls. More than likely that is going to be the more severe level, black mold, because it’s been there for so long. And then if you started having health side effects such as, just look up the side effects of black mold, and if you start experiencing any of those concerns, then you can more than likely figure out that it is a very dangerous mold that’s in your home. So like I had mentioned before, you need to disclose everything, whether you’re selling it to a retail home buyer or you’re selling it to a real estate investor.
Can A Retail Buyer Obtain a Mortgage on a Moldy House?
If you’re selling it to a retail home buyer, 95% of the time they will not be able to obtain a mortgage on a house that has current or active mold inside of it. Whether it’s in the attic or down in the basement, you cannot sell a house with mold to a retail home buyer.
So what other options do you have? Well, you can sell it to a we buy houses company like our own. Just fill out the form down below and get an as is, cash offer. Or you can possibly look at doing a seller financing note to either someone looking to do a rent to own type of deal or some other creative sort of financing or way of selling the property. The easiest way for you to sell the property, if you didn’t want to do any work, would be to sell to a we buy houses company here in Appleton like our own. And like I said before, fill out the form down below or give our office a call and we’d be more than happy to talk with you.
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Mold Remediation
The other option would be to have the mold remediated, which can cost thousands of dollars depending upon how severe it is. We’ve had a quote recently on a three bed, one bath home that was 1100 square feet, and that was $12,000 to repair that mold that was at present in the basement and then in some of the bedrooms. So it’s a very expensive.
Now, if you’re looking at selling it to a we buy houses company, we don’t care how much the cost is, we will factor that into our offer. But if you’re having it remediated, you need it remediated. And then you also need to disclose that there was mold in the house, but now it’s taken care of. So that still might affect some buyers outlook when they’re looking to purchase your property.
But when it’s all said and done, if you want an as is, cash offer for your property, please fill out the form below or give us a call on our office line, which is (920) 215-4201. Thank you so much for reading this post. I hope you have a wonderful day.