Mold and Property Value – What You Need to Know

Are you looking to sell your home and buy a new one? One thing you need to be concerned about for both buying and selling your home is mold growth. Mold and property value are more connected than people know. Think about that beautiful home that you walked through and loved. Would you still love it if you knew it had a major mold problem that the previous owners didn’t take care of? Your love and willingness to buy the house would probably decline. That’s how interested buyers would feel if you had mold in your home you’re trying to sell. Here’s what you need to know about mold and property value:

Mold and Property Value – What You Need to Know

Mold Disclosure

Every state has different rules and regulations when it comes to disclosing the presence of mold in a home that’s up for sale. The simplest way to make sure that you don’t fall into some costly legal issues is to constantly check in with a real estate lawyer for houses you’re interested in.

Attics and Crawlspaces

The obvious places that mold grows are in basements and underneath sinks. Often times, when looking for mold, attics and crawlspaces are overlooked. If mold is in fact growing in these places, it is found when you hire an inspector or appraiser to come look at the house during the sales transaction period. If you are putting your house on the market, be sure to thoroughly check these areas beforehand. If you’re buying a house, make sure your inspector checks these areas for you.

Water Source Problems

Since mold thrives off of moisture, the presence of mold can indicate that there is a water problem within the house. You can have the mold removed, but it will eventually grow back if you don’t fix the water problem. Drywall and carpet that has been exposed to a constant source of water will need to be replaced and can be very costly. When selling your home, you’re going to want to make sure that every water source is working properly and there are no problems such as leaks, otherwise your home will not be very inviting to potential buyers.

Mold and property value has a negative stigma surrounding it. While the presence of mold may lower your want for the house, don’t use it as a reason to walk away. If you really love the house, use the mold as a negotiation tool. Most mold problems associated with the sales transactions of houses are not as costly and difficult to resolve as you might think. You can ask for compensation to remove the mold and fix the water source or negotiate for a lower selling price. If the home you are selling or have recently purchased has mold in it, call MicroZyme Technologies today at 1-866-920-6653. Not only can we remove the mold, but we can tell you what’s causing it, fix it, and get your home “on the market” ready.

 

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