Meg and I have been looking at house on and off for the past several months. Our realtor emailed us on Friday with a house that has a ton of potential and could possibly be bought for an ridiculous price. The kicker is this...it has a real bad mold problem!! It is a repo that has been vacant for over a year and half. If we buy it, fix it up we could have a house that is almost 3,000 sq. feet and a ridiculous amount of equity when we move in...here is a pic of the outside:
I have always thought I was a person that took risk, but when something like this comes around and when the rubber meets the road...I am a big chicken! I am taking all the advice I can get so if ya got any please feel free to give it!!!
Please be praying with us!!
4 comments:
Wow, looks nice! Mold can be tricky. Use lots of bleach.
Have a home inspector do a thorough inspection.
Regarding the house. You stated that that house has a mold problem. This is not good at all. Mold can cause allergies and serious illness. I am a certified technician in indoor air quality and am familiar with this kind of situation. Anything pourous including drywall must be removed. Carpet is a good source for mold to collect and grow. It sounds like you may be in more of an expense than you realize. Be prepared to replace a lot of carpet and drywall. Also, if your homeowners insurance company knows or finds out that this home has or has had a mold problem, they may refuse to insure it or if they do, be prepared to pay dearly for it. If it were me, I would walk away from this disaster. Mold is a very serious problem once it has started. Bleach isn't always good at killing mold. Black mold is highly toxic. All mold can cause allergies, illness, and disease. You must be licensed to remove mold and contain it. They make chemicals to kill mold, but the general public cannot buy it, it id restricted to certified technicians. It sounds like the bank wants to unload this cheap to get it off thier hands. It is a nice looking house and you said you can get a great deal, but it may very well end up costing you much more to have the mold problem corrected. I wouldn't expose children to a hose that has has a mold problem. Mold can cause allergies, illness, and serious illness. If it were me, I would walk away from this. Mold is a serious issue. If you do buy and your insurance company knows or learns about a mold problem, even if it was corrected, they can deny you coverage or offer insurance at a very high rate. I would weigh out the odds, better yet, I would walk away from it.
This may not be so good. Mold can create all sorts of problems. It is a health hazard and can lead from allergies to more serious illness. If there is black mold growing in there, I would not take any chances and run from it. I became certified some time ago in indoor air certification. The proper way to repair this is to remove anything that has been in contact with mold and whatever is causing it. If the drywall in damp areas such as the bathroom has mold, it must be removed and replaced. This might be why the bank wants to let it go a a good price. Mold is a realy bad problem once it occurs. Homeowners insurance will be astronomical if they find out it has mold or has had any kind of mold in the past. My advice would be to leave it, Do not expose anyone to it, mold can cause serious illness even if you think you have got it all under control. Don't expose your children to the stuff.
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