Serious mold issues may negatively impact your real estate investments, which is why it’s so important to have an inspection and to ask the current owner about any potential mold issues that they’ve experienced.
There is a potential to find mold in almost any home or property, but how that mold is handled is what matters. Mold mitigation techniques should be used as soon as mold is identified. Hiding it, or using tactics to cover it up before a sale, are unethical at best.
When a property owner sells a home or business with mold, it’s essential for them to get rid of the mold, or, if the buyer is willing to cure the mold, disclose that mold issue to them.
Why is mold such a big deal in real estate?
Mold is a big deal because of the threat it poses to the structure as well as to human health. Some kinds of mold, like Stachybotrys chart arum, which is also known as black mold, has the potential to cause serious health problems.
While small amounts of mold aren’t particularly troublesome to most people, large sections of mold show that there are problems with the property. Whether that’s a moisture barrier that has failed or trouble with the water lines or roofing, the presence of mold is a bad sign and could make potential buyers run from a sale.
What should you do to protect yourself against buying a mold-ridden property?
If you’re the one looking to buy a property that has mold, be cautious and have an inspection performed to find out if it’s something that can be eradicated. Even if a home or property doesn’t have visible mold, it could be behind walls, in a crawlspace, in an attic or in another seldom-seen area of the home. It’s worth the time and expense of hiring in an inspector who can specifically look for, and identify, moldy areas of the property.
Mold has the potential to cause health problems, such as asthma and lung complications, sneezing, a runny nose and other issues. If you find out that a property you purchased had a mold problem that was not disclosed to you, then you may be able to file a claim against the previous owner.