The presence of mold does not hold the property value. Mold inspection is the only way to get rid of this uninvited potential costly houseguest. Having enough knowledge about mold is vital to consider for both home buyers and sellers in 2021. Lack of knowledge may cause legal issues due to disclosure laws to a certain extent. However, the mold disclosure laws differ in different states.
If you want to sell your home, check the home condition regularly as mold and water damage to avoid decreased home value. It’s a common concern that mold can negatively affect the property value about 3 percent lower, even after mold removal.
If you decide to buy a moldy home, don’t walk away if little mold finds. According to the environmental protection agency ( EPA), sometimes you can remove the mold by yourself. So as a buyer, you can take advantage of this problem to bargain with the seller if it’s possible to do it yourself with mold removal.
The worst issue is that mold grows very fast. If there is mold in a home, it could be a health problem in some cases, depending on the types of mold. If you don’t know the quantity of the mold, it’s time to call a mold inspection & testing company.
Some steps to prevent mold from devaluing your property
Expert home inspectors usually suggest taking some steps to avoid mold from lowering your property as a seller, it includes :
1- Writing a mold disclosure
2- Checking attics and crawl spaces regularly
3- Considering the source of mold
4- Compensating possibilities
Writing a mold disclosure
In the United States, every state has its laws for mold to follow. If your property has a large amount of mold in it, it’s urgent to write a mold disclosure when you want to sell your property. For writing a legal mold disclosure, you should consult with a real estate agent or lawyer to prevent potential legal issues. Otherwise, unknowing about this law can make things worse occasionally.
Checking attics and crawl spaces regularly
It’s clear that Mold is often found in areas such as the attic and crawl spaces because in these dark, wet, dump areas it grows faster. So, you should check these places routinely. If there is a large number of molds, mold detection by a mold inspector is necessary before you want to put your property up for sale.
Considering the source of mold
One of the most compelling steps that a home seller should take is to detect the source of mold. It will be easy if the seller gets a mold testing inspection. Generally, a home with mold problems has water damage issues too. Even after mold remediation, it will return if water damage is the reason for the mold. Therefore, checking out for mold removal is essential as soon as it becomes apparent.
If you want to sell your property with mold, the buyer may ask for some compensation or get an amount of money to get a mold inspection. As a fact, we know that nobody would want a home with lots of troubles. For example, the musty smell of mold can cause a buyer to get a bad feeling or even walk away before looking over the home entirely. So you should contemplate it before selling your home or unit and get help from mold specialists. The DKI mold restoration team can help you to avoid decreasing your home value. With mold testing inspection, you can sell your home at a higher price.
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2-Green Home Solution. (2018,8).How Mold Can Affect Property Value
3- Mold Man.How Mold Can Affect Property Value