Buying a Property with Mold in it
BP community--I went under contract on a north side Chicago multifamily property (4-flat) this week (thanks @Brie Schmidt ). Basic inspection (thanks @George Foster ) and mold inspection occurred on Wednesday. There was mold found in several places. Not just in typical moist areas like bathrooms--but in the corners of closets, under sinks, under a staircase and around garden unit windows and some walls.
The mold inspection results, which include air analysis for airborne mold, won't be ready until 9/30/14.
The inspector wasn't too worried about the garden unit mold because it's common in basements. A dehumidifier is a must there and would prevent future mold from forming (after the current mold is re-mediated). The under-staircase, under-sink, closet corner, was of concern. If remediation is required, I would need to hire a special team to seal off mold areas of the units with plastic and execute the removal.
I've never had to deal with mold in a building, let alone one I may purchase. I'm looking for guidance from the BP community on mold issues, what I need to know, and what to consider if I decide to move forward with the purchase. I plan to rehab these out of date units and can't risk kicking up mold and spreading it around the property. Does anyone have stories (good or bad) to share about mold issues in properties?
My first thought is to go on Angie's List for remediation providers. However, I want to crowdsource from the Chicago BP community as well. Please recommend mold remediation companies that did a good job for you.
Another note, this property is sold "as-is." I need to quantify the re-mediation costs so I can request a justifiable credit from the seller. You're insight is greatly appreciated!