I am considering buying an old house in Colorado that has undergone methamphetamine remediation. If I bought it, I would rehab it and use it as a vacation home and rental.
It seems that some people don't trust remediation efforts to fully remove health hazards -- even if the remediation procedures follow state law. Aside from health threats, there also is the economic danger that a stigma of previous meth activity would make the property harder to rent or sell.
If you have experience with such a property or have expertise in remediation, I'd like to hear your thoughts. Would you move into a house that had meth remediation?
I would not personally live in one.
I also would not buy one that had undergone remediation as an investment.
Whether or not it was properly done you would need to disclose that it was done and that will turn off some buyers and renters.
I would only buy it for the price of the dirt, demo it and rebuild. I would only do that if you no longer had to disclose that it was previously a meth house (not sure if it follows the building improvements of the land).
@Bob H. I am not an expert. I did look into purchasing a meth house at one point. The conclusion I came to was pass. The concern I had was the fumes soaking into the porous wood and subsequently returning to the air for the occupants of the home to breathe. This concern was primarily my own deduction based on discussion with people who had been in re-meditated properties. They seemed to still experience ill affects.
If you're unsure, get it re-tested by a reputable company. We have a great one in Colorado called Forensic Applications Consulting Technologies, Inc.
Colorado Meth Remediation Company
The guy that owns and runs the company is a former drug enforcement cop and really knows his stuff. I've had them test 4 houses and have luckily only had one come out "hot".
I thought that, here in Colorado, once a property has been remediated and certified, you no longer had to disclose that meth used to be there. Can anybody verify?
Originally posted by @Linda Weygant :
...I thought that, here in Colorado, once a property has been remediated and certified, you no longer had to disclose that meth used to be there. Can anybody verify?
That is correct. (just passed the CO broker exam last week, so it is fresh in my mind. It came up quite a bit in the study materials)
Thanks for the confirmation Jean. And congrats on passing!
When I was looking at an opportunity in CO a few years ago that had gone through remediation and learned from the neighbors the history of the home. If you didn't disclose it, you would certainly get a reputation. It was a REO and the bank certainly didn't mention it and wasn't willing to talk about. We got more info from the Sheriff's office. We decided to pass primarily because we weren't willing to live in it and it would certainly limit the rental opportunity.
Just clarifying the local regs, @Mark B.
not advocating any action particular course of action.
@Jean Bolger Absolutely understand!
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