Mold Damage

    Can I Sell My House If It Has Mold Damage?

    The word “mold” may be small, but it poses a significant problem. For homeowners looking to sell their house, especially in areas with persistent moisture, dealing with mold is often on their minds.

    Is it legal to sell a house with mold? Yes, it is. There’s no law preventing the sale of a house with a mold issue. However, selling a house with this problem is not a straightforward task. Continue reading to learn more about this issue and what you should do if you’re selling a home.

    Contents hide
    1 What makes Mold an Issue?
    2 Where is Mold Found?
    3 Can Mold Impact the Value of a Home?
    4 What happens if you sell a house with mold?
    5 As a seller, what do I need to do?
    6 1. Sell to someone who’s paying in cash
    7 2. Fix the mold problem before putting your house up for sale
    8 3. Lower the price and sell it
    9 4. Sell the house on your own

    What makes Mold an Issue?

    Mold-Damage-tulsa

    Mold is a type of fungus that exists everywhere, even in the air we breathe. However, it becomes problematic when it lands on a damp surface, leading to the growth of a colony. Mold colonies often release spores into the air. In enclosed spaces like houses, these colonies can cause significant breathing issues and allergic reactions. Individuals with compromised immune systems or older individuals may develop infections when inhaling these spores, while younger people may experience milder symptoms like itching, sneezing, and watery eyes. Some types of mold can have toxic effects on both humans and animals; an example is black mold.

    Where is Mold Found?

    Mold can thrive both indoors and outdoors. It has the ability to grow on various organic surfaces such as food, wood, paper, and walls, as long as it has access to oxygen and moisture. Common areas where mold is often found include the roof, attic, plumbing, basement, crawl spaces, and bathroom. If any of these spaces are neglected and provide a source of moisture, mold can develop.

    While mold on outdoor surfaces typically doesn’t present health or safety concerns, indoor mold poses a significant risk to the occupants of the house, particularly if the house is located in regions with high levels of air moisture.

    Can Mold Impact the Value of a Home?

    Home Value

    How bad the issue is will decide how much it impacts your home’s worth.

    Normally, mold on the outside of your home doesn’t lower its value because it’s not a health risk. Just getting rid of any mold on the outside should be enough.

    Yet, mold inside the house can be a health hazard. While buyers might tolerate mold in places like the bathroom or roof because of their exposure to moisture, they won’t be pleased if it’s on interior walls, ceilings, or plumbing. Houses with these issues are likely to fetch lower prices since fixing mold problems can be costly.

    What happens if you sell a house with mold?

    There’s no national rule stopping a seller from selling a house with mold, but each state has its own disclosure laws. It’s a good move to tell your buyer about the mold, where it is, and if it’s been dealt with professionally. Also, share the history of the problem with them.

    If you don’t tell the buyer about the mold, their inspection team will likely find it later. This could create mistrust, and the buyer might request more inspections that uncover minor problems, or the sale might fall through due to a sense of dishonesty.

    While it’s not a strict legal rule, not sharing information about a mold problem can make it hard to finalize a deal and may result in a lower selling price, which might not be a good outcome.

    As a seller, what do I need to do?

    As the seller, you’ve got different choices to consider:

    1. Sell to someone who’s paying in cash

    home renovation loans

    The fastest way to sell a house with a serious mold problem is to find a buyer who can pay in cash. They’ll buy your house as it is and give you an upfront payment. This saves you time, money, and the hassle of dealing with the whole process of fixing the mold issue.

    Cash buyers aren’t typically interested in homes that need to be sold or lived in right away. They focus on the fundamental value of the home rather than its looks. So, if you sell to cash buyers, they might deduct repair costs from the price they pay you. This means you might get a lower price than the market value.

     

    2. Fix the mold problem before putting your house up for sale

    mold remediation

     

    This is a good choice if your house has a small and growing mold problem. The remediation process includes checking the mold, making sure it doesn’t spread, cleaning it from all surfaces, sanitizing the affected area, drying wet spots, fixing damaged areas, and adding special air filters to the ventilation system to get rid of all the spores.

    After the mold is removed, a home inspector will check to make sure it’s gone, and then you can put the house up for sale. Fixing the house and preparing it for sale will help you get the most money possible from the sale.

     


    3. Lower the price and sell it

    Before the potential buyer finds out about the mold issue, inform them and offer a discount. Lowering the price is a way to benefit the most from a problem the buyer will need to handle on their own. However, you’ll cover all other selling costs.

    4. Sell the house on your own

    If you’ve seen signs saying “For Sale By Owner” (FSBO) outside homes, that’s what we’re talking about. However, selling on your own is the toughest option because you have to handle all the rules without a realtor’s help. If you choose this route, you’ll have to disclose information or fix the mold issue before selling the house.

    Mold is an unfortunate issue that houses can face. Ignoring it will only result in missed opportunities and money lost. By being honest about the problem and fixing it, you can reassure the buyer and sell your house for the highest possible price.

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