When you shop for a house and find one you absolutely love, you might not know what to do if you discover that the house has mold in it. Mold in a house is a big deal, and you should proceed with caution if you want to continue pursuing this particular house. Here are three important things you should know if the house you want to buy has mold in it.
A house value decreases if it has mold
Mold is a serious issue in a house and a house that has mold typically loses value. If the house is worth $200,000 without mold, it might only be worth $180,000 with mold. The exact value depends on the house itself and the extent of the mold, but you should not pay full price for a house that contains mold, even if the owner treats it professionally.
Your insurance company will consider it a pre-existing condition
One of the reasons you should not pay full price is due to the way your insurance company will deal with this issue. If you buy the house, you will have to buy home insurance for it. When your home insurance company offers you a quote for coverage, they are likely to tell you that they will not cover anything that relates to mold or water damage. This means that you will always be responsible to pay for the repairs your house needs due to the mold it has in it.
You should make sure the seller hires a professional mold remediation company
The other thing to know is that you should require the homeowner to pay for the elimination of the mold, and you should make sure they hire a professional mold remediation company to do this. Getting rid of mold in a house is not an easy task, and this is primarily because mold is not always located in places you can see. In fact, mold is often found in places you cannot see or access, such as the walls. When the company eliminates the mold, you will want to make sure it is really gone, and most mold remediation companies will offer warranties on their services after completing services in a home.
Buying a house that contains mold is not always the best idea, but mold can be successfully removed from a house. To learn more about this, ask a real estate agent in your city.