Home Buying in Millington>Question Details

N10e, Other/Just Looking in Millington, MI

If a home has mold in it, does it have to be mentioned in the listing?

Asked by N10e, Millington, MI Thu Dec 30, 2010

I'm currently looking at a couple of homes that are priced suspiciously low and am wondering if maybe they have mold or something. Is it required for the sellers to include such issues in the listing?

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Answers

7
N10e,

You are correct in being cautious.....pay attention to your "gut feeling" and do not ignore red flags. The right thing for all sellers to do is disclose, disclose, disclose....but this isn't always the path that is followed.

As a buyer, if you have concern, consider having your agent include an addendum that specifically addresses the issue and allows you to cancel you purchase offer with no penalty to you.

Buyers should always take advantage of their opportunity for a home inspection. This will also help to protect you best interests with regards to issues of concern.

Good luck,

Bill
0 votes Thank Flag Link Sat Jan 1, 2011
Like the other responses, you need to disclose it to buyers. It should be disclosed on the property condition disclosure. Anytime a seller becomes aware of a problem (ie: mold, structural issues etc) they need to disclose that information.
0 votes Thank Flag Link Fri Dec 31, 2010
It is not required to be in the listing, but it is required to be disclosed to potential buyers. Although, Massachusetts allows a seller to choose to either disclose ALL known issues or to not disclose ANY issues at all. Most states have what is known as a Property Disclosure Statement which the seller can fill out to provide buyers and the agents with a history of issues, replacements, etc in the home. In Massachusetts the seller can decline to fill out this form if they so choose. As others have stated, bank owned homes are sold AS IS and you will most likely not get much information from the bank on any issues in the home.

No matter what a seller or sellers agent tells you, it is in your best interest to confirm all the information. Best advice is to have either a home inspector or a mold specialist come out and take a look at the house, and you would do this after you have an accepted offer. Be sure to include a home and/or mold inspection in your offer so that if you are not happy with the results of the inspection you can back out of the contract without loosing your deposit.

Good luck to you!

-Sunny Fellman, Realtor
Cape Cod, MA
sfellman@kinlingrover.com
0 votes Thank Flag Link Fri Dec 31, 2010
The seller and the seller's agent should disclose all material facts regarding the property.
But it's your responsibility to verify the information....once you are under contract hire a professional and/or licenced inspector for structure, pest and mold.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Fri Dec 31, 2010
There are two types of defects in a property .... patent, and latent. Patent are the obvious defects, which it sounds like you are aware of. A seller should disclose everything, whether it is obvious or not, but if it is bank-owned you will likely just sign a number of, "as-is," documents ... and buyer beware.

With the assistance of a trusted real estate agent and reputable inspector, all of your questions should get answered.

Best to you, and Happy New Year!
Web Reference: http://DoorToDreams.com
0 votes Thank Flag Link Fri Dec 31, 2010
Although not always, you will typically see or smell mold. This is especially true in a basement. Check all of the walls and look for water staining or mold near the floor line.

Having said that, as a real estate agent, my advice is that you get a property inspection done. You can request a copy of the property disclosure (filled out by the sellers and legally binding) but to protect your best interest hire an inspector to come check out the complete property. The agreement of sale should have this as a contingency.

If the homes are foreclosures then the bank is usually selling them "as-is" and may not know anything about the actual condition of the home (no property disclosure available). At this point, you need to totally rely on having a good property inspection done.

Best of luck,

Joe Finnerty
484-241-1641
Long & Foster Real Estate, Inc.
Lehigh Valley Office, PA
610-865-7776
0 votes Thank Flag Link Fri Dec 31, 2010
Any defect, and mold would certainly fall into that category, should be disclosed by the seller. Usually, there is a separate seller's disclosure that should provide al the necessary information - check and see what is customary and usual in your area.

In any event, if you do make an offer on a home - make sure you have a home inspection contingency clause in your contract...this will protect you in case any "surprises" pop up!

Best wishes...........
0 votes Thank Flag Link Thu Dec 30, 2010
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