Buying Moldy Houses

1 Reply

Hi All,

I'm new to BP and REI in general but one thing I've noticed is that if the word "mold" is in the description of a home it sells for peanuts. I've heard some people say that mold is not really an issue but that people are just scared it's going to be and those houses can be gotten for pennies and a handsome profit can be made. Others, however, claim that mold is a death knell and you should NEVER even open the advertisements for them.  From reading forum posts I see the debate rages on about how to deal with mold.  I'd love to hear stories (success and failure) about buying mold-ridden houses and ways one can turn a profit taking on the spores.  Thanks in advance for anything you can provide!

Caleb Hale

One of the things you need to check on is Disclosures. In your state are you required to disclose even if a licensed mold remediation company comes in and cleans up? If so it will be a BIG turn off to potential buyers. Think people with allergies, kids, etc. Even if there isn't a trace of it people will still say "oh yeah! That's why my nose was runny when we walked through it." 

A local Realtor told me off the record that if you ever suspect mold you need to find it and fix it on your own. Don't have any paper trail that it was there or fixed. We've chosen to just avoid it unless it's a small basement issue just starting or something. But full blown gas mask mold. No thanks.

Ryan Dossey, Real Estate Agent in IN (#RB15001099)

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