Mold can Destroy Home Values

The jury is still out on whether black mold adversely affects everyone or only those who already have health problems, but one thing is for sure: mold in a home dramatically lessons the value of the home. If not taken care of, mold will cause serious damage to a home’s structure.
           
Recent tax liability and insurance issues arising from the presence of black mold in homes has caused people in the real estate industry to heighten their awareness of mold and its role in the selling process. Whether you’re buying or selling a home, it makes sense to know a little more about mold and take steps to find out if the home you’re buying or selling has mold problems.
           
Although there are thousands of different mold varieties, most of them are common and thought to be harmless. In fact, in daily life most people encounter several varieties of mold in many different settings. Mold is a fungus that reproduces in moist places when its spores land on a mold-friendly, damp surface.
           
The mold to be aware of is called Stachybotrys, or “black mold.” Black mold, also called toxic mold, produces mycotoxins. These hazardous byproducts are responsible for most of the negative mold reactions in humans. Although those with respiratory problems such as asthma are particularly sensitive to mold, the mycotoxins released by black mold can affect even those people without a history of respiratory problems. For babies and seniors, mycotoxins are even more serious as some believe that they can adversely affect lung function and result in a loss of memory.
           
If you’re planning to sell your home, have it checked for mold so you can take care of any problems before you have a buyer. All molds should be eliminated from your home. Whether you choose to take care of the mold problem on your own or hire a professional to do it for you, expect to evacuate your home for at least three days while the mold is being removed. Both the disrupted mold spores and the cleaning agents will give off dangerous fumes that you’ll want to avoid. Once the mold is successfully removed, correct any problems that might have caused the mold to grow in the first place. Have your repairs inspected by a professional to ensure that everything is taken care of.
           
If you’re planning to buy a home, insist that the home be checked for mold. Not all home inspectors routinely test for mold, so make a point of asking your inspector to do so or get a referral to a home inspector who performs mold checks. Your offer to purchase should be dependent on the home passing the mold test, and allow you to refuse to buy the home if a mold problem is uncovered.
           
No matter which side of the home buying process you are on, it makes sense to check a home for mold before finalizing a sale. You’ll save yourself a lot of headache – literally and figuratively – by insisting that a home is mold-free.