Home Buying in 92345>Question Details

Shawn, Home Buyer in Hesperia, CA

After placing an offer on a house, the house was partially flooded while in offer negotiations, due to bad

Asked by Shawn, Hesperia, CA Sun Nov 16, 2008

winterization technique, as well as the listing agent not being present when the water was turned back on after offer acceptance. The bank is considering replacing the carpet and pad in the affected areas. Since the house has been sitting in this condition for almost 2 weeks (carpet has not yet been pulled out, has partially air dried while sitting), we requested that the seller pay for a mold inspection, as there is a 3x2 inch spot of green mold growing on the wall. Drywall damage appears to be minimal, with very few visible spots showing water marks, yet we want a mold inspection. What are the chances of getting the bank (seller) to pay for a mold inspection. Should we walk away if they don't? We really like the house, and know that mold can occur anywhere, but now that there is visible mold in the house we are worried.

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The partial flood resulted in a material change in the condition of the property. It is the responsibility of the vendor assigned with the task of winterizing the property to perform their work correctly and the bank has recourse with them for the damages incurred.

That being said it is unlikely that they will pay for a mold inspection especially if there is only a 6 sq inch spot of green mold. I would suggest obtaining a mold inspection and requesting a credit for the cost of the inspection and remediation as well as the replacement of the carpet.

If you really like the house, pay for the mold inspection. If there are no repairs or very little needed in the way of repairs and you really like the house bite the bullet and take care of the problem. If the cost to cure the problem is more than you are comfortable paying then ask the bank to pay for it, the worst thing they can do is say no.
1 vote Thank Flag Link Wed Dec 17, 2008
Hi Shawn,

I had a similar situation with my seller, however my seller is an individual. It is unlikely the bank will do anything about the mold. Most of the time in their addendums there are mold and lead disclosures stating they are selling the home as-is. If the escrow had been opened you may havef had a better chance to get an inspection and/or repairs. However, my partner had a situation where the bank just cancelled the escrow and put the home back on the market and offered it to cash buyers only since a lender would require this to be repaired prior to funding the loan.

In this market, I would recommend to my buyers to just walk away only if the seller doesnt agree to make the repairs. Since the property has been in this condition for a couple of weeks now, you should get an air quality test too. Good luck and remember there are thousands of homes for sale, 4,061 to be exact and 891 of those are in Hesperia!

Claudia D. Morales, ABR
Century 21 Fairway Realty - Victorville
c21morales@gmail.net
0 votes Thank Flag Link Wed Dec 17, 2008
Shawn:

It is unlikely the bank will pay for a mold inspection or do anything about the mold. The EPA suggests that an area that is less than 3 feet by 3 feet can be cleaned up by yourself. No mitigation required.
0 votes Thank Flag Link Sun Nov 16, 2008
I dont believe after 2 weeks would be black mold issues. Most of these additional inspections ie mold buyers expense YOU WANT a hired professional who works on your behalf not the bank.
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Sun Nov 16, 2008
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