House to flip with Black MOLD!
Hey guys,
I'm thinking about purchasing a property.
Numbers:
Selling price: $158,700
Rehab: $56,200
ARV: $320,000
According to comps and 3 realtors, the house should sell for $320,000. BUT there's a big major black mold problem! They all noticed me that as well as my contractor and said he can remove it.
So two questions:
1) Do you think because there was a mold history to the property would be a deal breaker to the buyers? Can it effect the price?
2) is every mold (or black mold) can be removed?
My concerns are that even if we are going to deal with it, and have a certification from a mold remediator, if the problem returned, I can find myself deal with a "mold is gold" lawyer.
What do you think?
Thank you