Mold and mildew consulting, inspections, mold testing & sampling and solutions for mold problems and damages are available to real estate companies, property owners & managers, property sellers and potential buyers by Spore°Tech Mold Investigations, LLC, Louisville KY 502-262-2022.
Real Estate Suffers From Mold Encroachment
Historical problems. The real estate industry has a peppered history of environmental influences that have had a direct impact on the sale of property. Alerts about human exposure to asbestos, radon, electromagnetic fields near electric power lines, lead-based paints, industrial pollution, etc. are but a few factors and examples of what continue to affect property sales.
Facing a new problem. Today the real estate industry is facing yet another and new environmental concern — MOLD. Prospective buyers are becoming aware of it and have a concern, sellers don’t want to think about or deal with it and real estate agents are caught in the middle. Mold can and has killed many real estate deals. However, mold doesn’t have to end in a lost sale of property. Mold is MANAGEABLE and by exercising a few systematic steps to correct the conditions for its growth and cleaning it up, the number of lost sales can be dramatically decreased. Spore°Tech Mold Investigations offers cost-effective consulting and other services that can minimize or avoid lost sales.
High incidence of mold. According to the Environmental Protection Agency, molds are found in up to 50% of all structures. Contrarily, many other studies show 100% incidence of mold in structures. Public exposure to mold appears to be universal and can probably be discovered in almost every indoor environment. The root concern for those worried about the hazards of mold is their exposure to high-risk contamination levels.
Proactive steps. Some owners of real estate have found it beneficial to conduct a “pre-emptive strike” against mold inquiries from prospective buyers. A mold inspection and mold testing ordered by an owner prior to the listing or sale of property offers disclosure, evidence and a good faith enhancement to prospective buyers.
Minimizing liability. Even if the initial results of a owner-ordered mold test indicates a potential problem, they have the opportunity to correct and abate the mold problem. When appropriate corrective action is taken, the follow-up clearance testing should provide results favorable to potential buyers. This proactive measure by the property owner minimizes or eliminates liability and litigation.
Litigation in Louisville. Mold-related litigations has skyrocketed upwards of 300% since 1999. In the latter part of 2003, Spore°Tech Mold Investigations LLC was contacted by a Louisville-area resident who recently and unknowingly purchased a home with existing and serious hidden mold and structural damages. The seller, allegedly aware of frequent water leaks in the home, did not accurately disclose that information prior to the transfer of title. Dollar amount near six figures had already been spent by the new owner to correct the water intrusion and mold problems — interior refurbishing and finish work was expected to cost several thousand dollars more. Litigation is pending.
Mold inspection can benefits all parties. Whether purchasing a new or old home or building, the buyer should include mold inspection to the home/building and termite inspection requirements. Doing so can avoid problems as encountered by the above new homeowner. Most important to any pending real estate purchase, the buyer should first contact and have their insurance agent run a claims history on that piece of property. If there has ever been a mold damages claim on the residence or building, some insurers may not offer coverage to the new buyer — or coverage costs may be prohibitive due to the property’s mold history.
Seek mold help from a qualified professional. Whether you are a real estate agent, a seller or a potential real estate purchaser with a concern or issue about potential mold problems, Spore°Tech Mold Investigations, LLC is available to assist and assess those conditions. We are a member of the Better Business Bureau (http://www.ky-in.org) and certified by the National Association of Mold Professionals (http://www.moldpro.org).
Mold and mildew consulting, inspections, mold sampling/testing and solutions for mold problems and damages are available to real estate companies, property owners & managers, property sellers and potential buyers by Spore°Tech Mold Investigations, LLC, Louisville KY 502-262-2022.