Selling a house with mold problems is never easy. Even if the mold problem is only minor, the buyers are going to use it to bring the price down.
You have to remember that mold can damage the house and affect its appearance. Some molds can bring diseases to the people living in the house so there is a chance that the buyer will walk away if you mention these mold problems.
If you want to sell your house fast even if it has mold problems, here are some of the important things to know.
Types of Mold
You need to know the type of mold inside your house before you sell it. Some molds are very destructive to the foundation of the house and there are molds that can cause diseases. Before you start the mold removal, here are the three main classifications of molds and some of the most common molds that you can find in your house.
3 Main Classifications of Molds
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Pathogenic
This classification of mold can cause infections as it can affect people with weak and strong immune systems.
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Allergenic
This is not too harmful to your health in small quantities, but it can trigger allergies to people with asthma and other lung-related problems.
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Toxigenic
This classification of mold refers to those that contain mycotoxin, which is extremely harmful to your health.
Common Molds in your House
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Acremonium Mold
This is a type of toxigenic mold that can cause problems in your bone marrow, immune system, and other organs. It will start as a small moist mold and it will transform into a fine powdery substance. This type of mold grows in cooling coils, drain pans, humidifiers, and window sealants.
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Alternaria
This is a very common mold that you usually find in bathtubs, showers, and below sinks. This type of mold can cause asthma-like symptoms and it can affect your nose, mouth, and upper respiratory tract. This type of mold can spread very fast so it has to be removed as soon as possible.
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Aspergillus
This mold is typically found in most American households and it has a flask-shaped appearance. It usually appears in different colors. This is also a type of allergic mold and it can cause asthma-like symptoms.
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Aureobasidium
This is also a type of allergenic mold that you can find behind wallpapers or painted wooden surfaces. This type of mold can cause eye, skin, and nail infections. It can even cause dermatitis so you should never touch it with your hands or skin.
House Inspection
With all the different types of molds that can grow inside your house, you need to be very careful before proceeding to selling a house with mold problems. Conducting a house inspection should be your main priority to make sure that the buyers won’t have anything against you.
House inspections are usually expensive, but it is totally worth it if you think that molds are lurking around your house.
Can you sell a house with mold? Yes, but you will experience a lot of problems while selling it. This is the reason why most homeowners decide to opt for house inspection instead of selling the house as-is.
Pros and Cons of Selling After Remediation
The best way of selling house with mold is to do remediation as soon as possible. If you are still having second thoughts on this, we will list down some of the pros and cons of selling after remediation.
Pros:
- Selling a house after mold remediation would be much faster. This is a health risk for the buyer so if you can remove the mold completely, more buyers would be interested to buy your house.
- The selling price will stay the same or it will increase slightly. You have to remember that if you plan to sell the house as-is, you will have to give a big discount to the buyers. It means that they will have to do the remediation themselves.
Cons:
- Mold remediation is very expensive. If you have a lot of mold in your house that is very toxic or molds that can cause diseases, you can expect that the remediation process would be more expensive.
Pros and Cons of Selling As-Is by Yourself
We also listed down some of the pros and cons of selling the house as-is without doing any mold remediation by yourself.
Pros:
- You save more time and effort in handling the removal of the molds in your house.
- You can just list down the house and get quick cash if you sell it on a real estate investment company.
Cons:
- Your house would be cheaper compared to your target price. Since you did not deal with the mold problem, the buyer will bring the price down further.
- Selling it as is without any assistance from a real estate agent would be extremely difficult. You don’t have the platform to do it and you do not have any contacts to help you sell your house.
Pros and Cons of Selling As-Is to a Buying Company
If you plan to sell your house as-is to a buying company, you should also know the benefits and disadvantages of doing so.
Pros:
- There is an assurance that your house would be purchased. These companies or investors buy houses as-is so they can sell it again. They will handle all the renovations and remediations needed for the house and they will sell it for a higher price.
- The deal will be closed faster compared to selling to a regular buyer. Since the company will pay for the house in cash, it would only take around two weeks for the process to be completed.
- They will buy your house no matter what situation it is in. Even if the mold problems are already severe, they will still buy it for a good price.
Cons:
- Your house will be sold for a relatively lower price. You can expect that the price of the house would be below market value. If you are really in a rush, you won’t have a choice because the goal of the buyer is to buy cheap property.
- You don’t know what is going to happen to your property. Since a company will buy it from you, you won’t have any idea if the house would be torn down or used for shady practices.
Conclusion
Before you selling your house with mold problems, make sure that you check every nook and cranny for molds. Failure to disclose the mold problems in your house, whether you are aware of it or not, can lead to a lot of legal problems.
