The word “mold” may seem small, but it is a huge headache for the householders who want to sell the property. Typically, in areas with high humidity, mold is a common problem. So, what if you have mold damage, can you sell a house? Yes, you certainly can, but it is not as easy as a traditional home sale. Here’s what you need to know.
What makes Mold an Issue?
Mold is a living organism that thrives in damp environments. It produces spores that may be airborne, which can engender such complications as the mildest of allergies to severe respiratory issues. Mold is produced on different surfaces, including wood, paper, and walls, and can usually be found in places such as the roof, the attic, the basement, and the bathroom.
Legal Aspects of Selling a House with Mold
By law you can get into an agreement to sell a house with mold. There is no other law resistant to it. Nevertheless, every state has the right to their own disclose requirements. It’s the necessity of the seller to convey the details regarding mold presence, its specific place of residence, or even if it has been an approach taken by a trained technician. Non-disclosure of mold issues might result in distrust and legal battles in the future.
Impact on Home Value
Mold can cause your house to lose a large amount of its value. The effect of mold on the outside does not usually decrease the price the same, however mold inside the house can be a deciding factor for many buyers. Interior mold, specifically in conspicuous areas, may devalue the house as it portrays potential health hazards and impending repair expenses.
Options for Selling a Mold-Damaged House
1. Sell to a Cash Buyer
The fastest way to sell a moldy house is to look for a cash buyer. These buyers buy the properties in the present condition, without the need for you to deal with mold remediation. Nevertheless, they usually give you an amount that is below the market price that is needed for repairs.
2. Fix the Mold Problem Before Selling
In homes with minor mold, remediation would be an option to consider before getting the house on the market. The professional method of remediation includes the removal of the mold, decontamination of the areas affected, and preventing the return of mold. Such a step can also assist you in selling off your property at a better price.
3. Lower the Price
Are there other alternatives? Of course, there are. The customer needs to know about the mold issue and receiving a discount is a boon.
4. Sell the House Yourself (FSBO)
Affordable Houses carries the option of taking another route, which is known as For Sale By Owner (FSBO). However, if you go down this road, you have to deal with all the legal and procedural parts yourself, and a realtor’s help is not available, which includes the mold problem disclosure.
Final Words
Mold is a difficult problem for anyone who owns a house and wants to sell it through the real estate market. Be that as it may, by understanding your options and being honest with potential buyers, you can safely lead the transaction. If you decide to clean up the mold, execute a buyout to a cash buyer, or cut down the price, meeting the problem directly will get you the desired result.
For more if you’re in Tulsa and need to sell your house quickly, even with mold damage, consider reaching out to us at We Buy Tulsa Properties. We offer a streamlined process that allows you to bypass the stress of repairs and traditional selling methods. Contact us today to learn more about our fast and hassle-free home selling solutions.
