Looking at investing in a house with mold.
Real Estate Agent · Waterbury, VT · Member since 2015 · 30 posts · 8 votes
Yesterday I looked at a small ranch home that was priced substantially below it's assessed value. The inside of the home had mold every where, growing out of the cupboards, on the walls, the ceilings etc. The basement is obviously wet. It is a concrete block foundation and I could see leaks in the walls. The windows are in poor condition with cracked trim. Really, the only parts of the house that looked decent are the metal roof and the siding. Considering the cost of mold remediation, which would entail and entire gut of the structure, should I look at tearing this building down and replacing it with a modular? Is it worth trying to remediate that much mold? I know that ultimately I'll have to look at the numbers for both those options but if anyone has any prior experience with a home in this condition, I'd appreciate hearing what you did. Many thanks.
Have you had the mold tested? "Black mold" is a very specific strain of mold, stachybotrys chartarum (atra). While it is true that it is greenish-black in color, many more common molds are also dark green to black in color. The problem with molds is not the mold itself, which are not toxic, it's the mycotoxins some molds produce, as is the case with stachybotrys chartarum. The most common indoor molds are Cladosporium, Penicillium, Aspergillus, and Alternaria, which are mostly just allergens to those with sensitivities.
As for the stain blocking paint idea, that can be a dangerous tactic, even after you have completely dried out the mold. Once mold is completely dry, it goes dormant. It IS NOT dead. Mold can be resuscitated simply by introducing water/moisture, unless that liquid contains an agent capable of killing the mold, such as bleach. (It's a lot more complex than that, and there are parts of mold and other fungus that are incredibly difficult to truly kill. The site www.aspergillus.org.uk is an amazing reference for all things moldy! And, yes, I'm a microbiology geek.) So, if you introduce a latex - water-based - stain blocker, you will likely do nothing more than reactivate the mold. Anytime you're trying to block mold, use an oil based product. I personally recommend Zinzer.
You can purchase a test kit on line to determine whether you have stachy or one of the other mold types.
Finally, there is some really good information here about stachy mold in dwellings and cleaning here... http://www.cdc.gov/mold/stachy.htm
Mold...regular old, ordinary green mold doesn't scare ME. (Black mold is an entirely different story, and I would run - not walk - away.) The problem is that most people these days hear the word mold and think the black, scary, toxic stuff. They don't realize mold is what was growing on the block of cheese in their refrigerator; that mold is what makes bleu cheese look and taste the way it does; or, that we have antibiotics now because of bread mold. They just freak out.
My point here is that, in Texas, I would have to disclose any mold remediation or known problem with mold on the seller disclosure. I'm guessing you have a similar requirement in VT. If that's the case, I would suggest a scrape off, unless you can get the property at a ridiculous price that will support you selling it below market and paying for a post remediation mold inspection report.
@Hattie Dizmond
Thanks for your reply. In this building there is black mold and white mold and it is every where. To get rid of it would require removing everything to the studs. Yes, in Vermont, I would have to disclose the mold remediation. The property is now listed for less than the value of the lot.
@Brenda Hedges Hi Brenda, I am a General manager for a mold remediation and inspection company in St Louis. We always try to clean as our first option making demolition the last thing we want to do, but sometimes demolition has to happen on drywall when the mold gets heavy. The spores will actually grow roots inside of the drywall and cleaning/killing them become difficult or impossible so replacement is necessary.
I would suggest getting at least 2 quotes, 3 if possible on the remediation of this job and don't be afraid to let each person know your getting other bids. As they say it keeps the honest person honest. Ask what their steps are what chemicals they will be using. Many people feel getting rid of the mold is removing the drywall. That is just one step in a larger process. You will want to chemically treat the studs and wall behind each piece of drywall to kill the remaining spores and make sure the walls are completely dry before any is put back up.
I agree with @Hattie Dizmond that getting a post remediation report showing an acceptable air quality level in the home would help with most buyers, however, if you do that have a 3rd party company do the clearance test, not the same company you used for the remediation.
If you have any specific questions send me a PM and I would be happy to help you out.
Travis
@Brenda Hedges - Can you provide some numbers for frame of reference? What is the lot worth vs. what are they asking? Are modulars allowed in your area, or do you need to request a variance? How experienced are you with real estate?
If I had nothing to lose (bought for less than value of land), lots of time, and enough resources to either hire a remediation team or move in a modular that would cash flow - I might consider it.
Your time and sanity is worth something.... Is this a project you want to get into?
Have you had the mold tested? "Black mold" is a very specific strain of mold, stachybotrys chartarum (atra). While it is true that it is greenish-black in color, many more common molds are also dark green to black in color. The problem with molds is not the mold itself, which are not toxic, it's the mycotoxins some molds produce, as is the case with stachybotrys chartarum. The most common indoor molds are Cladosporium, Penicillium, Aspergillus, and Alternaria, which are mostly just allergens to those with sensitivities.
As for the stain blocking paint idea, that can be a dangerous tactic, even after you have completely dried out the mold. Once mold is completely dry, it goes dormant. It IS NOT dead. Mold can be resuscitated simply by introducing water/moisture, unless that liquid contains an agent capable of killing the mold, such as bleach. (It's a lot more complex than that, and there are parts of mold and other fungus that are incredibly difficult to truly kill. The site www.aspergillus.org.uk is an amazing reference for all things moldy! And, yes, I'm a microbiology geek.) So, if you introduce a latex - water-based - stain blocker, you will likely do nothing more than reactivate the mold. Anytime you're trying to block mold, use an oil based product. I personally recommend Zinzer.
You can purchase a test kit on line to determine whether you have stachy or one of the other mold types.
Finally, there is some really good information here about stachy mold in dwellings and cleaning here... http://www.cdc.gov/mold/stachy.htm
@Justin Tahilramani
Thank you for your reply. Any developed lot here is worth around $70,000.00 and they are asking $39,000.00 for the property as is. We are allowed to have modulars. I need to look at the cost to rehab vs. replace and to decide how much hassle the remediation would be. In terms of experience, I've been a real estate agent full time for the last three years and bought, rehabbed and sold several houses before that. This would be my first flip of a house that is in this poor condition.
@Hattie Dizmond
Thank you for the very helpful info. I'll check into the test kit but I'm not actually sure that I want to go back into that property.