We’ve talked numerous times about the serious health dangers that can be caused by the presence of mold in your home. Mold can also hurt you in another way: it can make the value of your property plummet to depths you never dreamed.
In this issue, we’ll talk about how mold can have such a negative impact on your home’s value and what can legally happen if you sell the home without disclosing existing mold issues.
HOW CAN MOLD AFFECT THE VALUE OF MY HOME?
An article in USA Today summed it up best: “Black mold will scare off buyers quicker than just about any other problem.”
If mold is not readily noticeable but dampness in your home’s floors, walls or ceilings is, you can bet that the savvy home buyer will seek a mold inspection. If mold growth is confirmed, your property value will most likely plummet.
In fact, a law signed by California Governor Jerry Brown states that “the presence of mold makes a home substandard.”
WHAT ARE MY LEGAL REQUIREMENTS ABOUT SELLING MY HOME WITH MOLD?
Under California law, home sellers are required to disclose in writing to potential buyers details about matters that could affect the their decision to purchase your house and how much they are willing to offer.
The presence of mold falls into the category of “material facts,” which includes the conditions of your home’s ceiling, floors, roof, windows, foundation, insulation and other structural components.
WHAT COULD HAPPEN IF I DON’T DISCLOSE THE PRESENCE OF MOLD?
The buyer could take you to court, where you could be forced to pay for the costs of repair as well as punitive damages for concealing the presence of mold.
LET THE PROS AT J&M KEYSTONE, INC. CAN CHECK AND TREAT YOUR HOME FOR MOLD
Mold growth can begin in your home in just 72 hours after water or moisture has found its way into your home. While you can generally spot mold in easily visible places, mold can also thrive while hidden in walls, above the ceiling or underneath the floor.
It’s in your best interest to have a professional mold remediation specialist – like J&M Keystone, Inc. – to make sure all mold patches are treated.
Call us today at 800-368-2757.
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