Originally posted by @Rex Harris :
I found a 3 unit home, but the seller said it has asbestos sidings. As a new investor, what are my risk?, or should I simply stay away from this?
You can get a quote to find out how much for remove and replace with updated siding. As long as asbestos isn’t disturbed it should not cause harm or be an issue - from what I’m told by the experts but it’s also a case by case and the current condition. You can also use that as a negotiating tool for a low price. A 3 unit - that sq ft is a lot to replace - get a company to give an estimate of replacing - they should be free estimates. They are in my area.
@Rex Harris Asbestos is only harmful when it's messed with, broken, and being disturbed. Tons of buildings have asbestos flooring/siding, and other components. If it is in good condition, it can last a very long time. If the property you are looking at has areas where it is deteriorated, that may be an issue, but, overall - it's not a deal breaker in my opinion.
Thanks Daira and Megan. I appreciate your response. And will be looking for an asbestos removal specialist to give me a quote.
Asbestos siding last forever and 1 day . It causes me no concern what so ever . Its only a problem if you hit it with a saw or grinder . If it were a major problem lots of people would be in trouble .Most houses built in the 1960's and 70's have it .
My concern is with the bank. Will they lean me on a property, knowing that the sidings have asbestos ?