Almost every home is susceptible to the formation of mold. There’s a potential for mold to grow in any place where there is moisture present. However, buyers and sellers of homes are becoming increasingly aware of serious mold issues and how they can affect home sales.
How Can a Mold Infestation Affect the Sale of Your Home?
Almost everyone is well-acquainted with the concept of mold; fungi that grow and thrive in moist environments. This natural occurrence is quite unfortunate for homeowners as it grows in bathrooms, basements, attics, and any other moist areas around a property. The beginning stage of a mold problem is the growth of black spots on walls in poorly-ventilated rooms.
Selling a home with mold is probably one of the riskiest things you can do. Most buyers will bail out at first sight of mold in a property. This is mainly because not only does mold affect the appearance of a home, but it also weakens its foundation and constantly increases as long as there’s moisture present.
Why Take Care of Mold Before Selling Your Home
Despite how low the probability of developing serious complications from mold exposure is, buyers have every right to be cautious. Here are a few reasons for you to avoid selling a home with mold, and make repairs before you put it up on the market.
If a buyer purchases your home only to find out that there’s a serious mold problem, there are very high chances of them filing a lawsuit against you. Whether you were well-aware of the problem and failed to mention it, or you didn’t bother determining if this problem existed in the first place, you will have to face some serious consequences.
If a potential buyer calls for a household inspection and discovers a mold problem in your home, you will definitely face difficulties in getting the price you want for your home. The decline in the price of your home relies mainly on the severity of the mold problem. However, the fact still remains that you will not get your maximum asking price if you have a mold infestation.
The Bottom Line
You need to thoroughly inspect your home or call for a household inspection, especially in areas where there is a high chance of moisture accumulation. In case you find mold, make sure to determine the main cause of the infestation before proceeding on to the repairs. Always remember to tackle a mold infestation before putting up your home on the market!