So you want to sell your home, but it has mold in it?
Oh my goodness! Mold is a common occurrence. So, what really is the big deal? The truth is that most molds are not harmful. However, there are a few that can be harmful to your well-being, such as Stachybotrys, commonly known as black mold, or Chaetomium.
Now for the million-dollar question:
How does a seller get a reasonable price for their property without incurring liability or the possibility of a lawsuit if it has mold?
Selling a mold-infested home is not anything to be taken lightly. The majority of buyers will walk away at the first hint of mold. There is no need for them to pay for a home that requires mold inspection when they may find an equally good deal on a home that does not need such inspection.
You can sell a moldy house as-is, however you must make it known to the potential buyer in your disclosures. When in doubt, just reveal! Make a written record of it. This will help relieve you of any liabilities; however, if you are unsure, consult with a professional. When selling a mold-infested house as-is, the most likely buyer is a cash buyer and they are usually prepared to renovate the entire home. Moldy houses are usually not financed by lenders.
If you see black spots on a wall in a poorly ventilated space, for example, you are most likely witnessing the early stages of a mold problem.
Mold is all around you, usually in the form of airborne spores looking for an ideal place to land and grow. It is not a concern in small quantities, but if it finds a moist place in your home and you fail to recognize it, it can quickly become a serious problem.
Mold growth in an HVAC system is a regular occurrence. It can grow and spread undetected, causing illness in building inhabitants and drastically lowering indoor air quality (IAQ). A forced-air HVAC system is the quickest way to spread mold across a building. It's best to find an hvac company near me to take care of the indoor air quality testing and remediation.
If mold is found, a buyer would almost certainly reduce their asking price, sometimes significantly. Most of the time, buyers simply withdraw their bid. Be prepared, selling a home with mold is not an easy task and may take some time to find the right buyer.
If you're looking to sell your house fast in San Diego, contact realtor Steve Meyers today.
When selling a home with mold or some other problem, always make the required disclosures to the buyers, regardless of who they are. This is required by law.
The most prudent approach is to resolve the issue prior to listing the house. The method of removing mold can be time-consuming, and delaying buyers and increasing the property's "Days on Market" is never a positive thing.
First and foremost, inspect your home. Look in the attic, basement (if you have one - some San Diego homes do sometimes), bathrooms, kitchen, and everywhere else there is moisture.
Second, repair any leaks or moisture issues. Mold grows in damp environments, so resolving this problem is critical and can reduce the probability of a future mold infestation.
Third, have a mold inspection performed. If you suspect mold in your home, do yourself a favor and get it inspected before putting it on the market.
If there is mold on your property and you hire someone to treat it, be aware that it will take some time. This procedure is generally divided into two stages. The first step is to destroy the mold, and the second is to keep it from growing back. It's a good idea to find a mold removal company that offers warranties on their work. Although you may not want to pay for renovations on a house that will no longer be yours, you will end up saving more money in the long run.
Selling a mold-infested home is not usually advised, unless you have a cash buyer who is willing to put in the work for removal. If you ignore the issue and fail to disclose it, you are likely to face lawsuits along with costly repairs. If your home has mold, get it fixed before selling it. In the long term, this will save you money and litigation. If you don't want to pay for the repairs, you can still sell your house "as-is."
If you have a mold problem and don't want or are unable to deal with it, give us a call for a fast, all-cash, "as-is" bid.