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Jim Mootrey
  • Atlanta, GA
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Mold: How much to discount?

Jim Mootrey
  • Atlanta, GA
Posted Nov 6 2013, 09:14

I am in the due diligence period on a short sale. The inspector found mold in multiple places in the finished basement. The house has been empty since July and the utilities were turned off. I think that is the source of the mold. It is not an extreme case: If you did not know what to look for, you would not even see it. But it will need to be dealt with and will get worse between now and the closing. The closing will not happen until at least January. I am fairly confident i can remove the mold for under $5,000.

How much would you ask as a discount? Assume any other issues have been accounted for in the original offer. We are talking a 2 bath 3 bedroom SF in the $140,000 range.

Thanks

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