first thanks for asking these questions on trulia. i am sure you will get great answers.
Usually Radon mitigation is a sellerâ€™s expense.
sometime you may give credit at the closing for that however be careful bec if the buyer is a FHA buyer their mortgage company would want this to be done prior to closing in fact they will request a new radon testing showing the levels are within acceptable levels. I don't think a buyer should or want to get a price reduction instead of getting the problem fixed due to many reasons:
1- the loan process, as described before many loan companies will require that to be fixed because it is a health hazard.
2- buyer want to live in a home with low concentration of radon to avoid any health problems.
if you are a buyer on a deal where you found radon problems i would strongly advise you to get this mitigated and to ask the seller to pay for it.. in fact if i were you i will not close until i get a new satisfactory radon testing done. Good luck
please let me know if you have any other questions or concerns, thanks.
Re/Max of Naperville
Those are good questions. It all depends on how the deal is done. If you find high radon levels from the home inspection you can ask for the mitigation be done or ask for the money to do it. If the seller won't agree then it comes down to how much you want the house. Contact me if you have any more questions.
Rich Knapp - Broker
it is usual practice that the home seller pays for the mitigation to correct for high radon level readings. As to accepting a price reduction that is usually not the case since an agreed upon price has already been put into the home purchase contract. The buyer and seller could agree to a credit in leu of repair. Feel free to call me with any other questions you may have or if you need assistance in finding a home.
It's a great time to be a home buyer!
It's handled differently everytime. I've had buyers request the work be done an retested before they close and I've had buyers except only half the cost of the mitigation system.
I hope this helps!