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I'm interested in a house now that is steeply discounted because of mold. The realtor said it would need to be gutted. There are no other problems with the house. The structure is fine.
The source of the mold is that it was a foreclosure that was left sitting empty for a long time. There is no water damage or structural damage. We'd just have to rip out and replace the sheetrock and woodwork.
The location is perfect for me, it's the only house I could ever afford in that neighborhood, and I love the idea of buying a house that has been gutted (or gutting it myself) and rebuilding the inside the way I want it. The house would be livable after the mold has been removed, so we could rebuild the walls and cabinetry while we are living in it.
My sister isn't crazy about the idea. She doesn't think it would be safe to raise kids in. She seems to think that you can't really get rid of the mold.
Is my sister right? How dangerous is it to gut and fix up a moldy house?
Note that I have not seen the inside of the house yet, because my sister does not think it's worth looking at.
But the price and location are perfect. I could never afford a house in that neighborhood if it wasn't moldy. It's about $150,000 less than what it would be without the mold. Is it worth looking at?
I'm interested in a house now that is steeply discounted because of mold. The realtor said it would need to be gutted. There are no other problems with the house. The structure is fine.
The source of the mold is that it was a foreclosure that was left sitting empty for a long time. There is no water damage or structural damage. We'd just have to rip out and replace the sheetrock and woodwork.
The location is perfect for me, it's the only house I could ever afford in that neighborhood, and I love the idea of buying a house that has been gutted (or gutting it myself) and rebuilding the inside the way I want it. The house would be livable after the mold has been removed, so we could rebuild the walls and cabinetry while we are living in it.
My sister isn't crazy about the idea. She doesn't think it would be safe to raise kids in. She seems to think that you can't really get rid of the mold.
Is my sister right? How dangerous is it to gut and fix up a moldy house?
Note that I have not seen the inside of the house yet, because my sister does not think it's worth looking at.
But the price and location are perfect. I could never afford a house in that neighborhood if it wasn't moldy. It's about $150,000 less than what it would be without the mold. Is it worth looking at?
If the house has mold it has a water issue. Mold can't grow without water. So, it is dangerous to gut a moldy house. The mold spores will be flying around and you will inhale them. Once you have determined the source of water causing the mold to grow, have repaired that, then treated and encapsulated the mold spores, it will be fine.
Just removing moldy sheetrock doesn't mean that you will have taken care of the issue. Even on vacant/abandoned homes, mold won't grow unless there is water.
I'm interested in a house now that is steeply discounted because of mold. The realtor said it would need to be gutted. There are no other problems with the house. The structure is fine.
The source of the mold is that it was a foreclosure that was left sitting empty for a long time. There is no water damage or structural damage. We'd just have to rip out and replace the sheetrock and woodwork.
The location is perfect for me, it's the only house I could ever afford in that neighborhood, and I love the idea of buying a house that has been gutted (or gutting it myself) and rebuilding the inside the way I want it. The house would be livable after the mold has been removed, so we could rebuild the walls and cabinetry while we are living in it.
My sister isn't crazy about the idea. She doesn't think it would be safe to raise kids in. She seems to think that you can't really get rid of the mold.
Is my sister right? How dangerous is it to gut and fix up a moldy house?
Note that I have not seen the inside of the house yet, because my sister does not think it's worth looking at.
But the price and location are perfect. I could never afford a house in that neighborhood if it wasn't moldy. It's about $150,000 less than what it would be without the mold. Is it worth looking at?
There's a reason the house is $150,000 less than it should be - and there's a reason nobody has bought it at that price.
If it was me personally, I'd probably buy the house. But I'd do everything from the mold remediation to the finish work myself. On the other hand, if you have to hire all of that work done, it's going to be spendy.
You need to have a mold remediation specialist look at the house before you consider buying it. It may be good news, or horrible news. But you have to know.
First, as Silverfall said, you don't get a serious mold problem without also having a water problem, not even in humid climates like mine. So there's more wrong with the house than "just" mold.
A house with mold may be able to be restored and be perfectly safe, but how expensive and difficult this will be is impossible to answer. It depends on how difficult it is to fix the underlying water problem, and then on what type of mold(s) you're dealing with, which is something you'd have to have tested. Lots of molds are basically harmless unless you're allergic, but some are deadly toxic. You could be looking at a house filled with highly toxic mold or with serious structural issues caused by (or possibly causing) the water issues, which would mean a tear-down rather than a rehab. Or you could be looking at a house with an easily-fixable roof problem and benign mold which can be remediated easily.
Whether or not to look at the house will depend on how much financial risk you can take. You'll have to pay for inspections and testing before making an offer most likely to determine if the mold is toxic and find out where the water is coming from, so if any of the answers are that the house will be impossible or too expensive to fix, you'll be out that money. And, even if all the inspections come back that it should be fixable, anyone buying a serious fixer must be prepared for major hidden problems to show up during the renovation.
There's a reason the house is $150,000 less than it should be - and there's a reason nobody has bought it at that price.
If it was me personally, I'd probably buy the house. But I'd do everything from the mold remediation to the finish work myself. On the other hand, if you have to hire all of that work done, it's going to be spendy.
You need to have a mold remediation specialist look at the house before you consider buying it. It may be good news, or horrible news. But you have to know.
If you don't have the mold remediated professionally, there's a really good chance you'll have a hard time getting insurance on it.
Mold can be really dangerous. And it's not as easy to fix as just replacing woodwork and sheet rock. Mold spores travel everywhere. It's going to cost a lot of money to remediate. I wouldn't buy it.
Just adding to what has already been said, you would not believe what has to be done if it is done properly. Just having a specialist come in and write the protocol is expensive. Then you have to hire a remediation company with all their equipment and methods. Unless you have it done professionally, I doubt you can get a loan or insurance, as others have mentioned. And, if it was allowed to get as bad as it sounds, you might need to replace parts or all of the A/C system. I certainly wouldn't make an offer without having the protocol and an estimate for the work.
Sure it is worth looking into. Just realize that the cost to gut a building like that can be quite high and depending on age / other factors can be quite expensive. You have to realistic with your budget and capabilities. Anytime you bring something to the studs there are going to be surprises and expenses. No telling what is causing the moisture either and that really is a big factor in figuring out the costs to get it fixed.
One thing that stands out to me is you say you couldn't afford it without the 150k off the price. Well how are you going to pay for it and the renovations then?
The right person in the right financial position shouldn't pass up on this house because of mold. The problem can be fixed, it is just a question if you have the finances and capability to take on a job like that and come out on top.
If you don't have the mold remediated professionally, there's a really good chance you'll have a hard time getting insurance on it.
Mold can be really dangerous. And it's not as easy to fix as just replacing woodwork and sheet rock. Mold spores travel everywhere. It's going to cost a lot of money to remediate. I wouldn't buy it.
I've done mold remediation before. Bleach doesn't cut it, you need professional products. There are specific steps to take. Then it just needs to be inspected.
Of course, all that depends on the extent of the mold damage.
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