Mold!!

[Susan Morgan]

Hi,  

I'm looking into purchasing a short sale the price of the house is already approved.  I've had it inspected the major problem is that it has a upstairs bathroom that is leaking into the downstairs kitchen wall.  It's impossible to find out if there is mold until we open up the wall. I'm not sure what to do? 

I'm wondering will the sellers agent allow us to open up the wall to find out.  I don't know if that is something they allow. I know she's had this listing for a long time and she really wants to get rid of it. Or if I call mold inspectors will they be able to test it and find out.  

I'm so confused.......?

[Marcia Maynard]

Offer a low price that will leave you with enough money to fix the water damage and mold problem if there is one. If the lien holder won't accept a lower price, ask for other concessions. Everything is negotiable. Ask the agent if they would be willing to open the wall so your inspector can check it out. If not, do what you feel comfortable doing. Hope for the best and plan for the worst. If you are getting a good deal even in the worst case scenario, then go for it.

Also, complete your BP profile and it will help with your BP networking. :-)

[Victor Menasce]

A risk is only a risk if it's not part of your plan. If your plan assumes a complete rip-up and replacement, then you're not assuming any risk. 

I think you can assume there is mold, and possibly rotting of the structure beneath the bathroom. I would assume that major parts need to be torn out. Cost out the project assuming it needs to be done. If the reality is better, then you won't have a problem. But bear in mind, you will need to rip out a lot just to determine the scope of the problem. 

[Mindy Jensen]

If this property is in Florida, and it has been leaking for a while, you can almost guarantee there is mold. Mold grows where there is food, and drywall is food for mold. So is wood.

Florida is humid and warm, which is the perfect growing environment for mold. I wouldn't bother asking to open the wall. I would just assume there is mold growing behind it. 

I took a mold class recently. Not all mold that is black in color is Black Mold (the bad stuff). 

[Wayne Smith]

@Mindy Jensen

Where did you take a mold class?  I would be interested in learning more about it.  

[Matt Devincenzo]

I'm reading between the lines here, but I think the real issue you have with the mold possibility is your current price. Your current price is only good (for you) if the house does not have a mold problem, if it does you need/want a lower price but you will have to convince the lender that there is a real problem.

So first since it's a SS you have an advantage in that the property owner is still the seller, they just have less control of the price since they have to receive the banks approval for the short. That is good since the seller is more likely to allow a more intensive inspection than a bank would be if it was a REO. Assuming they allow you to inspect more intrusively, then you'll have the factual basis you need to ask for the reduction.

Here's what I would do. First ask the seller for the additional inspection, if they say yes then go ahead and open up some spots and take a look. Second whether the seller agrees to opening up the walls or not, I would have an air sample done. If they don't allow the wall to be opened up the air inspection will still help show if there is are mold spores present if they do it gives you laboratory test results to go with the visual inspection report. The air tests can identify the type of mold present and that is your proof you can submit with your offer showing why you're requesting the reduction, along with the other inspection information if they do allow the wall to be opened up. 

[Mindy Jensen]

@Wayne Smith, I am a licensed agent, and the class was given at my local Realtor's Association. I know they let non-members take classes, so check with your local association even if you aren't an agent.

[Matt Kimura]

@Susan Morgan The post by MattDeVincenzo is spot on if you decide to move forward in a similar purchase in the future.