Discovered Lots of Mold During the Inspection
I'm in Chattanooga, TN currently. My property inspection on a 16-plex I purchased was yesterday. Crazy how much mold is underneath all of the units, so I'm sure it's deep in the walls, etc. Also, 16 joists need to be replaced because some of the floors are caving in. Needless to say, I am very disappointed after paying $4800 for the inspection and $1300 for the trip here from CA.
My broker was saying that people don't care about mold as much as they do in California. I can't imagine buying a mold infested building though. Am I thinking differently than most the East?
Obviously I'm going to go back to the seller and renegotiate. He may not budge though. Onto the next!
Most Popular Reply
I personally think Mold is blown out of proportion in most areas. I treat it the same as any other surprise found on an inspection, termites, foundation, A/C or heat issues, they all have a price to repair. Find out what that is, present to the seller and either they take care of it or they don't sell.
Once they have been notified, they are going to have to make the repairs before they can sell the property anyway, or they open themselves up to liability if they don't disclose.
I wouldn't panic over the inspection, get an idea of what the cost to repair will be and go from there. Could be an opportunity for you.