What to do if you find mold?
Ask Phyllis: a blog series of frequently asked real estate questions.
Dear Phyllis,
I love all things real estate related – especially your advice column! We have an interesting situation: My aunt, who lives in Santa Clarita, passed away, and we are preparing her home for sale. Taking some of your prior real estate advice, we had a pre-inspection before deciding on making any improvements. The inspector recommended we contact a mold inspector, which we did. We learned that there is nearly $15,000 of mold abatement work necessary. I am so glad we took your advice on the pre-inspection because our Realtor was ready to hire painters and get the home painted and staged. I am looking for your guidance on what to do if you find mold. How much of a concern is mold to a buyer? Should we get it remediated?
Thank you, Loyal Reader
Dear Loyal,
Most importantly, before you consider mold abatement, you need to learn the cause of the mold. First, if you identify the leak that caused the mold, repair it immediately so the mold does not spread further. Next, if you cannot find the source, hire a leak detection company.
However, if you cannot determine the source of the leak that caused the mold, do not proceed with any other work. In that case, you must disclose all estimates and reports to the buyer. As a result, I suggest selling the property as-is. Most importantly, if you do not know the cause, mold abatement does not make sense.
After you fix the leak, ask your Realtor for advice on abatement. For example, if you remodel the home, a buyer may remove walls, cabinets, and affected areas. In that case, the remodel may eliminate the mold issue.
Meanwhile, if the home is move-in ready, you may need mold abatement, which can be costly. Your Realtor may also recommend a contractor who can complete the work for less than the $15,000 estimate. Finally, no matter who performs the work, you must obtain a mold clearance to confirm removal. In all cases, you must disclose everything in writing to the buyer.
Related Post: How our listing had mold
mold seems like such a tricky issue when selling. As a buyer I wouldnt want to purchase a home with mold but the mold you know is probably better than the mold you dont know. As a seller I would prefer to skip the expense and time for repairs but that is obviously going to cause the sale price to be much lower.