Should I be concerned that a SFH we are about to make an offer on has asbestos siding? We are going to use this as a rental unit.
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I sure wouldn't want the liability if renting it out. Not in this law-suit-happy world we live in.
Sounds like something to avoid. As soon as a tenant hears asbestos, I'm sure they're going to pick up the phone to call the lawyer.
Then again, this may be a great chance to pick up a property for peanuts. Why not make a lowball offer, taking asbestos removal and repair into account in the offer?
Sam - I like your way of thinking. Any way to grab something for "peanuts" is the way to go for me! Sweet!
Asbestos abatement can be very expensive if you hire pros to do the work. Asbestos inside the home, ie insulation, is dangerous to remove yourself. However, asbestos siding is very solid and can be removed by a do-it-yourselfer. It is important though, to contact your local landfill and make sure you can dispose of it there. I had researched this a few years ago in my area and the landfill charged a hefty fee IF you were a contractor - property owners could take it there free of charge. :idea:
I would be very, very careful about removing the siding on your own. It's not always a job for the do-it-yourselfer. We had a house with asbestos siding, and it did not come off clean, as we expected. When the inspector came around unannounced, we were hit with a stop-work order, and we ended up having to call in a contractor for big $$. Not to mention the health hazard if you deal with it incorrectly.
Well, first post here and I think I may be able to help. :)
I owned an older home and it too had asbestos siding. I was looking to re-side it in vinyl siding and started going through the proper channels to do the job right. My local inspector came out to look at the job and asked why did I want to remove it? I said because I thought I had too. I was wrong. The inspector said to side over it and DO NOT REMOVE IT. Well, I applied for the permit to install the siding, hired a contractor do to the work and everything went smooth.
Moral of the story, check with your local offials on the proper way to deal with this stuff. You never know, you might be walking away from a great rehab home.
Bill has the right idea. As long as you check with your local building inspectors and know this information upfront, you will be ahead of the game and able to make a low offer on the property. Many people who hear asbestos will just walk away from the property.
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