With that PSA out of the way, let’s talk about mold. Every agent has their sticking point when it comes to inspections and home buying - one of my biggies is mold. Did you ever see the movie, “He’s Just Not That Into You”? If you have, you know how Bradley Cooper’s wife in the film feels about cigarettes? That’s how I can get about mold.
There are various types of mold which can range from nothing but an inconvenience to severely toxic mold which can cause major health concerns. When I was starting out, I worked for a very cool power agent who always worked with high profile clients. One of her clients was pregnant and lived in an absolutely impeccable home. When it came time for inspections, it turned out that there was a drip in the line behind her Sub Zero fridge, causing the entire wall to be completely infested with mold. There were no indications of it, no water damage stains - nada. It cost thousands of dollars to remediate. Had the buyer’s agent not requested that mold inspection, he could have left himself susceptible to law suits down the road.
Another situation I ran into, also with said power agent, was when we were representing the buyer on this fantastic house up in the hills. Seller’s always have to disclose EVERYTHING they know about a property. Sometimes they can phrase things in a way that can be interpreted in different ways. One person’s version of “water intrusion” is a leaky faucet, while a seller’s version could mean the entire house was flooded from back slope run off directly into the living room. Either way, we got the mold inspection and let’s just say the whole situation was a costly disaster. Even on two condos that I have in escrow right now, I had insisted that my clients get mold inspections even though it’s not typically the standard with condos unless the general inspector thinks it’s warranted. I’d rather see you pay a little now and back out of the deal, than pay $1000’s down the road to remediate a situation you were clueless about.
For my home owners out there, if you have any type of flooding or substantial leakage (and not the type they used to advertise on Lays “WOW” products” or Ali Diet Pills), please address it right away and hire a professional. They have powerful fans that can dry the affected areas quickly before mold has the chance to spread. Once the situation is under control, have an air test and samples done just to be on the safe side.
I hope you found this lesson on mold as riveting and intellectually stimulating as I found writing it! You can thank this week’s gnarly weather for this fun and exciting post. You need to know this stuff because it’s important to be aware of these things, but I thank you for your attentiveness with some real estate porn in my next entry!
Stay dry and stay safe! People first, then money, then things…then mold inspections (Suze Orman w/ a dash of Rich Kids)