In recent years, the real estate community has become more and more aware of mold issues, meaning those that are likely to harm home sales. The reason why the fungus is so feared is that it brings about health complications, not to mention liability issues if the home buyer finds black mold. So, is there any hope for the seller? There is as long as you deal with the issue in a responsible way, which means you should hire a company that ensures mold removal in Edmonton. Once the fungus is eliminated, you can sell the house for a fair price and protect yourself from liability.
The way in which mold affects home sales
It is no surprise that buyers will bail out on you if they find fungi popping up out of the fridge or the attic. The bad news is that it tends to grow in all the moist places, meaning the bathroom or the basement. Can you hide this problem? In fact, you cannot due to the fact that buyers can demand a home inspection before purchasing it. They will hire a professional inspector to look for growth as well as potential moisture problems. In addition to this, real estate agents are required by law to disclose mold problems. Thus, you cannot simply repaint the house or spackle it with the purpose of hiding the issue.
Can you be sued for disclosing relevant information?
The matter of fact is that you can. The law protects victims of toxic mold exposure, meaning that they have the possibility to take you to court. If you did know that there is a mold problem, then you can be sued for negligence or even deception. And taking into consideration that your home is not new, you cannot blame the builder for the problem. Buyers will present photos and copies from the documentation you provided, so that it is not really worth messing around with selling an infested home. If the condition of the plaintiff is serious, then you can end up paying millions.
The answer to your problems
When the inspector finds fungus in your home it is necessary to take measures. The good news is that if the problem is taken care of properly, it will not come to haunt you after 5 years or so. What you should mostly be worried about is water. Fungus thrives in places where there are water leaks or high degrees of humidity. Therefore, when mold is uncovered you should hire a professional to eliminate it. On the other hand, you can make a discount for the infested house. Surprisingly, there are many buyers willing to overlook this as long as they receive a price discount.