Looked at a house that has some potential for the BRRRR strategy but have a question i'm hoping someone has some experience with....
Its a bank owned property (REO) and they slapped a quick coat of paint on basically the entire interior, then put this sign up everywhere. Has anyone else seen this before? I asked the selling agent if it might be mold but she says that she asked the bank but they're not giving her any answers.
Any help would be greatly appreciate, looking to make an offer.
I have never saw this sign before but my guess is that it is the bank's way of saying that they do not certify anything that was covered with the fresh coat of paint. My guess is that it could be lead based paint. How old is the house? If it is pre 1970, then I would say there is a good chance of lead based paint being covered. This is how most cover lead based paint but the bank might be saying that they do not guarantee anything. Typical of big industry
Again, this is my guess. Hope this helps
Shaun, Lead was my initial thought but the home was built in 1980 so thats ruled out.
So, in my eyes, that only leaves mold - however, i didnt see any sign of water damage during my first walk through
They are telling you there was a "discoloration, that may, or may not, have been mold" and letting you know that no mold remediation was done, in other words....."you've been warned".
Thanks Wayne, appreciate the response, sounds like the bank just wants to cover their own ***. I think i'll need to get an expert in there to check it out
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