Originally posted by "TC":
It is stand practice in my area for the banks clean up people to remove all carpet to prevent mold. Also, the mold disclosure agreement is normal. Unless you are sitting on a slab, you should be able to see if you have a mold issue.
Extending this a bit.
Mold is everywhere and it has always been everywhere. No one invented mold recently. What might have changed is two things.
1. Medically we not connect medical issues in specific individuals to exposure to mold. They always had the issues in some part of the population but medical science did not make such a strong link. A different way to think of it is people are overly concerned.
2. Insurance companies got his with large claims from court cases where they lost. Juries can sometimes go overboard. Hence sellers and other parties that might have liability are now doing a CYA.
Mold is natural and it can get very out of control in the right environment. It can be dealt with. Some measures are more extreme than others.
In my mind, the biggest issue to any investor is mold can hold up your deals. It scares off some buyers. It can require a clean bill of health that is expensive to obtain given the fuzzy standards or market misunderstanding.
Anyone who likes walking in the woods or working in the garden enjoys being close to mold. Those who like cheese seem to also have a warm spot in their diet for mold. Is there mold in yogurt? Where does penicillin comes from (note: I am allergic to penicillin as are many folks).