Thinking Of Buying A Foreclosure Home With Mold: Think Again

The banks are holding thousands of foreclosure houses. Some are in terrible shape. So before you consider buying get a full disclosure addressing any mold problems. You might not be getting a bargain after all. House Refinance Center for more information.  

Foreclosure homes are property owned by lenders and banks as a result of the previous owner defaulting on a loan. These homes can be cheaper in many cases when compared to previously owned and new homes. Though cheaper, these homes can come with problems of their own, one of which is mold infestation. Saving money is almost always a smart move and many home hunters will consider buying a moldy foreclosure home in an effort to save money. This is a bad idea for more than a few reasons. Read further to know more.

Remediation Costs

When buying a moldy foreclosure home with the intention of saving money, you have to consider remediation costs for mold elimination. The remediation cost can go up to as much as 6000 dollars when mold reaches the attic and the air ducts of a home. Spending this much money may not seem like an attractive proposition for new homeowners who are already burdened with the purchase price of the home or are considering remodeling and renovations. One must also take into consideration the chances of a poor mold elimination job which means that your new home is still moldy and continues to be a health hazard.

Medical Bills

The medical bills associated with the various ailments caused by mold are far too great to take the risk of buying a moldy foreclosure home. Health and hygiene are of paramount importance and health concerns can’t be ignored for the sake of a few thousands or hundreds of dollars.

Thinking Of Buying A Foreclosure Home With Mold: Think Again

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