Home Buying in Reading>Question Details

Sarah, Home Buyer in Middleton, MA

Extensive black mold was found in the attic requiring roof replacement 35K. The seller is looking into insurance for payment. SHould we walk away?

Asked by Sarah, Middleton, MA Sun Mar 17, 2013

The house is from 1981. Vents were not properly installed.

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Find out how much mold remediation will cost. Then adjust your offer by that amount.

Check with an attorney and your Realtor for more information.
0 votes Thank Flag Link Sun Mar 17, 2013
Don Tepper, Real Estate Pro in Burke, VA
You could also negotiate a reduction in price and obtain a renovation loan to remediate the mold. Are there any other changes you would like to make to the property?
0 votes Thank Flag Link Sun Mar 17, 2013
Hi Sarah,

Talk to your agent and attorney if you are under contract. You could wait if the seller agrees to pay for all the repairs and if you do not mind waiting. But consult with your attorney and your agent. Good luck. Info@wenrealty.com
Web Reference: http://wenrealty.com
0 votes Thank Flag Link Sun Mar 17, 2013
I would have it mitigated prior to your closing. The roof should be replaced properly along with soffet and ridge vents. I would also have an air quality test.

This should be handled by your attorney in the purchase and sales agreement.
0 votes Thank Flag Link Sun Mar 17, 2013
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