Selling Your House with Black Mold

(December 5, 2016)

Mold infestations have come to the forefront of public awareness in recent years. Black mold is the most common, and can cause health problems, particularly in people with asthma. This issue will drive 85b480c0-2c81-11e4-a52a-038de01f92e6_mortgage.jpghomebuyers away faster than virtually any other problem. The insidious thing about this fungus is that it can spread quickly, often in areas you can’t even see – such as behind basement and bathroom walls.

If you’re preparing to sell your home and you have a mold infestation, you probably already realize you’ve got a problem. The responsible thing to do is to have the unwelcome substance removed by a qualified mold remediation company before ever putting that for sale sign in the yard. Unfortunately this can cost anywhere between a few hundred dollars and several thousand – and you won’t know which until the professionals get in there and assess the situation.

Let’s say you do have this black mold removal in your budget. Is that even enough to help you in your quest to sell your home? Research has actually been performed in this arena, and the results are not encouraging. One study showed that homes lose about three percent of their value even if the mold is removed, and another – a case study – resulted in the home losing a whopping half of its value.

Selling your home to an investor helps you sidestep this serious challenge, eliminating your repair costs and giving you cash for your home without the headache associated with trying to sell a home with black mold.

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Jennifer Shenbaum

Written by Jennifer Shenbaum

Jennifer Shenbaum is a real estate investor based in Southern California. She is a veteran of the housing market crash of 2007. Best of all, she offers free remodeling ideas to all who ask.

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