Should You Walk Away? What to Do When Mold is Found During a Home Inspection

11/10/2024 (Permalink)

Finding mold during a home inspection can be unsettling, especially if you’re in the process of buying your dream home. While mold can be a red flag, it doesn’t always mean you have to back out of the deal. The extent of the mold issue can vary, and in many cases, it can be dealt with properly. In this blog, we’ll cover what to do when mold is discovered during a home inspection and provide expert advice to help you make the right decision.

Understanding the Mold Issue

First, it’s important to assess how serious the mold problem is. Not all mold is a major issue, and in many cases, it’s something that can be easily addressed. Mold usually forms due to water damage, poor ventilation, or high humidity. Ask your inspector how extensive the mold is and whether additional testing might be needed to get a clearer picture.

According to the Insurance Information Institute, water damage and mold-related issues account for almost 28% of homeowners insurance claims. This statistic highlights the importance of addressing mold quickly and efficiently to prevent further damage. If you’re facing mold during a home inspection, getting a professional opinion from a trusted remediation service can help you make an informed decision.

Deciding Whether to Walk Away

When deciding whether to continue with the home purchase, there are a few things to consider. If the mold is limited to a small area—like a bathroom or basement corner—it might not be a deal-breaker. However, if it’s widespread or points to a larger issue, like ongoing water leaks, you’ll need to think carefully. Mold remediation can be expensive, and it’s important to weigh those costs against the property’s value.

Here are some key factors to consider:

• Location of the Mold: Mold in places like bathrooms is common and typically easier to manage. Mold in hidden spots, such as attics or inside walls, could be more serious and point to long-term water damage.
• Size of the Problem: A small mold issue may be easy to fix, but a larger problem could require professional intervention and repairs.
• Remediation Costs: Get an estimate from a mold remediation professional to understand the cost. You may also be able to negotiate with the seller to address the issue before closing or to lower the sale price.

Remediation: Solving the Problem

If you choose to move forward, addressing the mold issue quickly is a must. Mold remediation should always be handled by professionals to ensure it’s done correctly. SERVPRO of Bangor/Ellsworth specializes in mold removal and can help with both small and large infestations, making your home safe again.

Negotiating with the Seller

If mold is found, it’s also an opportunity to negotiate. Depending on the severity, you can ask the seller to take care of the mold remediation or request a discount on the home’s price to cover the cost. Some sellers may be open to hiring a company like SERVPRO® to handle the remediation before the sale is finalized.

Wrapping Up

Finding mold during a home inspection doesn’t automatically mean you should walk away from the deal. What matters is understanding the extent of the issue and how much it will cost to fix it. With expert help from a mold remediation professional like SERVPRO of Bangor/Ellsworth, you can address the problem and move forward confidently with your purchase.