3 days before the close date, the lab test showed there were slightly elevated levels of mold in the house. I have a baby, and know that mold can be a big pain in the butt to get rid of, not to mention the health risks. The house has not been lived in, but was instead bought as a fixer-upper, and totally redone. The home inspector said the new roof, drainage, siding, and everything have kept even the smallest drop of moisture from both the attic, and the basement. Yet, he spotted some moisture behind the dining room and living room walls. He has no idea how these damp areas got there. The appeal of this house is that it WAS so livable and ready for us to move into as a starter home. Now, with the health risks and the hassel of fixing a potential mold problem, this house wouldn't be as easy to sell. We might consider the bigger home where we could settle for good, even though the bigger home would be pushing out budget's limit. Would you walk away from this house or go with it?
2007-07-02 11:04:05 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
RUN AWAY!
(1) I'll tell you where the moisture is coming from: a leak. If there is moisture or mold, then it wasn't totally redone; they missed something.
(2) You mention the hassle of repairs. You don't mention the cost, which could be huge, both for leak repairs and for mold mitigation. If you don't know what's leaking, you can't estimate the cost to repair it.
(3) You have an inspector's report. That means you can't say you didn't know about it. So, you have two choices: remedy the situation 100% regardless of cost, or under the laws of most states, you will have to disclose a "known mold problem" when you try to sell the house. Good luck with that. Don't even think of not disclosing it. The buyer's lawyers would fry you.
(4) Why did you pay for an inspection if you plan to ignore the findings and complete the purchase anyway. This is precisely the type of mess that inspections are supposed to save you from.
2007-07-02 11:20:07 · answer #1 · answered by Ted 7 · 1⤊ 0⤋
Almost all mold is completely harmless. I would not be too worried abou that aspect. HOWEVER, walls don't just get wet by themselves. I would walk away because of that issue, not the mold. There is likely some HUGE problem that the sellers were hoping would not rear its moldy head before closing. This is likely a bigger problem then you realize ans could get very expensive.
2007-07-02 18:11:48 · answer #2 · answered by Landlord 7 · 0⤊ 0⤋
Unless I knew exactly where the mold was comming from and how easy or difficult a fix it would be - I would not buy. You could end up with a huge disaster. Also, some insurance companies do not cover for mold damage.
2007-07-02 18:08:29 · answer #3 · answered by gkk_72 7 · 0⤊ 0⤋
Mold is not harmless. It will soften the infrastructure and you will be stuck with a money pit. You'd have to gut it all out if and when you want to resell.
2007-07-02 18:20:02 · answer #4 · answered by Anonymous · 1⤊ 0⤋
WALK AWAY. LEAKS!
2007-07-02 18:11:57 · answer #5 · answered by charlotte q 2 · 1⤊ 0⤋