Property Q&A in Parkland>Question Details

Kara Wulff, Home Owner in Waxhaw, NC

Does this home have Chinese Drywall?

Asked by Kara Wulff, Waxhaw, NC Sun Mar 20, 2011

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This question is about this property: http://www.trulia.com/property/3006690244-7006-Spyglass-Ave-…

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6
Kara good luck with this. ABSOLUTELY get it checked out. It could knock 25% to 30% off the price. Or have owners agree to escrow one third of the money against testing and remediation of Chinese Drywall specifically.

For more info read my trulia blog article series on Chinese Drywall. Link below. AGAIN GOOD LUCK!!
0 votes Thank Flag Link Thu May 5, 2011
Kara,

There is no mention of Chinese Drywall in the write-up. This is important because as a potential buyer you will get a Sellers Property Disclosure - Disclosing ANYTHING THAT MATERIALLY EFFECTS THE PROPERTY. It is given to you and signed by both buyer and seller.

ALSO, when you purchase a property, you will have a home inspection~ You will hire a home inspecter with the guidance of your realtor. You will want to know the condition of ALL major systems in the house.

Hope this helps!

Debbie Albert, PA
Keller Williams of the Treasure Coast
Web Reference: http://www.ronanddebbie.net
0 votes Thank Flag Link Mon Mar 21, 2011
Kara,

I did a little bit of research and this home was previously offered as a short sale before the bank foreclosed on the property back in December. It has now been on the market as an REO for 75 days with an original list price of $359,900 and now at $329,000. While the bank has not made any disclosures that the home does contain Chinese drywall I would proceed with caution and assume that it probably does.

The first thing to do is check any exposed copper and see if there are any signs of corrosion which will turn the copper black. In Chinese drywall there are increased levels of sulphur which emits a distinctive odor. The best thing to do is have the drywall inspected but be careful as turn around times for lab testing can take longer than what the bank may give you as an inspection period.

Tread carefully and best of luck.


Always at Your Service, 





Tom Priester e-PRO

"Results Driven Real Estate" 



Keller Williams Realty 

561 308-0175

tom@tompriester.com
Web Reference: http://www.tompriester.com
0 votes Thank Flag Link Mon Mar 21, 2011
I like to advice you to do inspection on this house to be safe. It may not be declared Chinese Drywall home but do you want to take the risk?

Sedat Celik, Realtor
0 votes Thank Flag Link Sun Mar 20, 2011
Kara, 



I cannot tell you how many hours I have spent at Parkland Golf and Country Club and as you may know this is probably one of the hardest hit communities that I am aware of in this price range when it comes to Chinese drywall. To give you an example we have a home under contract in the community for $355,000 that last sold for about $1,600,000. It has Chinese drywall and the remediation is going to run about $125,000. Even with those costs and about a 3 to 4 month construction period it is a great deal for my client. It seems to be the exception if you find a home that has not been infected and I will need to do a bit more research on this one.

Whatever you do in Parkland Golf and Country Club make sure you know for sure if Chinese Drywall is present before making any offers. When I get to the office in the morning I will go over my Parkland research data base and let you know what I have in regards to this particular listing. 

Remediation costs in the development are running about $30 per total square foot and you must know what you are getting into when anticipating a purchase of a resale home within the community. There are still some great opportunities but with Toll Brothers taking over the helm at this community they will not be with us much longer. Already dramatic changes are in the air and the association fees have been slashed from what they were just a few short weeks ago. Toll Brothers pricing is starting at $449,995 for their Villa Garcia which has three bedrooms and three baths in 1,858 square feet. With these prices the resale opportunities are bargains and it is an amazing development with a Greg Norman golf course that is a real beauty!



I will touch base again in the morning when I get to the office but in the meantime if you need anything additional please do not hesitate to give me a call. 





Always at Your Service, 





Tom Priester e-PRO

"Results Driven Real Estate" 



Keller Williams Realty 

561 308-0175

tom@tompriester.com
Web Reference: http://www.tompriester.com
0 votes Thank Flag Link Sun Mar 20, 2011
This home in Parkland Golf & Country Club is not listed as a Chinese Drywall home. It is also priced as a home without Chinese drywall because it is a 3 bedroom home and that is close to the current market value. Of course you would need a full inspection but at this time it appears that this home would be OK.
0 votes Thank Flag Link Sun Mar 20, 2011
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