I am in escrow on a condo. I have contingencies and can walk out of the deal. The inspector came today and found a 10 inch mold growth on the closet roof. Here are the options I've been told about - what should I do next?
1. I could pay for a destructive inspection where they would drill a small hole in the wall in question and use a camera to see how extensive the mold is. I could use this report to negotiate a fix with the seller.
2. I could get an air quality test. If the results show that the mold is unhealthy, I could bring that back to the seller and ask her to pay for remediation.
3. I could go straight to the seller and ask her to pay for the inspections and the remediation. My agent thinks that this may cause her to back out of the deal. (Of course, my agent wants the deal to go through - but is generally a great agent.)
Also, is it likely that the seller will need to pay to get this problem fixed?
2006-12-26 16:51:13 · 6 answers · asked by Laura M 2 in Business & Finance ➔ Renting & Real Estate
Since the property is a condo the source could be coming from the common element area. If so it wont be the sellers responsibility but that of the homeowners association. Ask the agent to get a fast answer from their board president as to whether this issue has arisen before. In condos you own from paint to paint and the walls are common element. Most water and drain lines are located in them. To repair inside the common element is often a contractor issue and not a homeowner allowed thing. Therefore you can still continue with your purchase and make the seller have the repair performed at the associations expense. If the source is from a owner caused situation then the seller would be responsible for remediation. Inform the seller that should the sale terminate due to this issue should it not become resolved correctly,they will have to disclose this problem to future buyers. You should not have to incurr any expense over this issue.
2006-12-26 18:45:12 · answer #1 · answered by Kevin H 4 · 0⤊ 0⤋
I would ask the seller to pay for the inspections and the remidiation. If not walk away from the deal. Otherwise when you go to sell it you will have a hard time doing so. Personally I would not buy the property unless it's been taken care of by someone certified and licensed to do so. We flip houses and found mold after we had closed hiding in a wall between the kitchen and bathroom. The remedy was very expensive. And we had all gotten sick working on the house before we found the mold. It's just not worth it.
2006-12-26 17:06:20 · answer #2 · answered by Wicked Good 6 · 0⤊ 0⤋
I would go with number 3, my exhusband and I bought a mobile home that ended up with a pipe leak which caused some mold. I didnt think it was much either just the bathroom till they tore open the wall and had to replace half a room, and a closet adjacent to the bathroom as well as half the bathroom. Thank God we had a warranty on it for 2 years so it didnt cost a dime...
But most condos dont have warranties. To be prudent I would ask them to pay for inspections, if they back out of the deal maybe they are scared that the damage is severe and I would think twice about the value of the property. I mean if they are scared of that what else are they hiding?
2006-12-26 17:23:26 · answer #3 · answered by innosint_lil_angel 2 · 3⤊ 0⤋
Mold is always unhealthy and can be very expensive to remove. Do some research (google it "mold in apartment"). Your agent wants to close the deal but do yourself a favour and be very careful, you may be asking for trouble.
You are the buyer so it's up to you to set conditions of sale. If the seller doesn't want to pay for the clean up (it may involve wrecking the walls)I would consider walking away from the deal. Again, do your research first!
2006-12-26 17:17:11 · answer #4 · answered by calico_cat 1 · 0⤊ 0⤋
attempt and take criminal action against the previous vendors and/or brokers in the event that they have been attentive to those themes. regrettably your realtor became lifeless incorrect. when I utilized for an FHA own loan, my lender especially instructed me to get an inspection because of the fact the FHA inspector would not seek for a similar issues. My realtor instructed me that still. a minimum of, your realtor won't ever be incomes any referrals from you.
2016-10-28 10:57:13 · answer #5 · answered by ? 4 · 0⤊ 0⤋
I would ask the agent to pay then tell them to ask the seller.
More importing i would be ready to not walk but run.
2006-12-26 18:12:49 · answer #6 · answered by Anonymous · 0⤊ 2⤋