Chinese Drywall Houses - Will you DO ONE?


We all heard of Chinese drywalls and their issues.
Recently I saw two properties in south Florida being listed for sale and they have this "CHINESE DRYWALL DISCLAIMER" with them. Being sold at a substantially lower price - but market is in the tank anyways with so many foreclosures.
My understanding is besides sheetrock replacement, you might also have to replace all copper piping and possibly electrical wiring?
What is your opinion or rehabbing Chinese drywall houses? I know there are many threads already on their issues and problems, but this thread is about potentially rehabing one. Will you do it or stay away from it? Will you not consider it at any price?
There is also safety hazard issues for the rehab workers while on the premises.
Thanks in advance,
MC
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MiamiCuse wrote:

I would buy one if the price was right. Would have to replace all the drywall and electrical fixtures; that's probably all. If the plumbing did have to be replaced, it's not that hard to do when the walls are gutted.
Bob
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I wouldn't touch one till I found out about any "special handling and or disposal " of said Chicom drywall...ie , EPA , DEP OSHA , state and or local regs. , ect....Could be quite a can of worms , especially in places like California , Mass. NY , Maine , ect...I highly doubt you could just rip it out and dump it at the landfill as a DIY'er....Then there's getting the house certified as clean and suitable for habitation.....Yet another can of worms...LOL...I'ld RUN not walk away from one at this point...Let somebody with deeper pockets blaze the trail through the red tape and bureacrats...LOL...HTH....
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On Sat, 24 Oct 2009 19:25:28 -0400, "MiamiCuse"

I know a guy who is rehabbing two drywall houses in Cape Coral. The main thing is you rip out all the drywall and seal the block behind it with paint or a good sealer to sequester any sulfur that may have migrated back there. You are probably losing the carpet. That's when a good inspection is necessary to see how much more trouble you have. Typically, if the A/C was running, you need a new evaporator coil. If it was off it is probably OK. Plumbing fixtures are a wild card. Things that had standing water on them are usually spotted. The worst problems are where you had water present (like the condensate in the A/C) You were making acid when you mixed sulfur compounds and water. Electrically you are probably putting in new devices (receptacles and switches) but the wires under insulation are going to be OK. If you can't cut a little and strip enough to use, you can clean the wire. (per that AHJ). I am still not convinced the devices are bad but if this is your house, putting in spec grade now while you have them in your hand is better than putting back the 40 cent ones the builder used. If in doubt break a few open and look. I don't think they did anything in the panel but that would be determined by your inspection..
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You're looking for trouble IF you buy it KNOWING it has the issue...and will find it long term.
Apparently the realtors association in their relentless pursuit to cover their ass came up with this. It seems to be just like the standard lead paint addendum.
Let's say you buy and redo the place. Do you have to disclose that it once was CD? If so, as a buyer I would not even consider the place. It would be asking for trouble. How would I know it's been completely and properly done? Do I want to open myself up to such a fiasco? Then does that mean if I sell it I have to disclose it as well? Charming for marketability. Unless I too were to sell it as-is, I'm subject to law$uits. And if I sell it as-is we're talking deep discount.
So uh which box will they be checking? http://www.sarasotarealtors.com/files/hottopics/SARDisclosure09042813312.pdf
Let's say you check box 3 when you sell since you pulled out all of the drywall. OK, that would be honest. My guess is you would still be on the hook. Stuff is still rotting away even though the drywall is gone. All this could be argued on here and in courtrooms. That's my point. Why expose yourself to it? Personally, as a buyer, I'd like to see a 4th box that says whether the seller knows of any past issues, corrected or not.
Seller's Disclosure (check one):      - Chinese or defective drywall is present in the house, and Seller has provided Buyer with all available records and reports relating to Chinese or defective drywall in the Property as follows:
- Chinese or defective drywall is present in the house, and Seller has no reports or records pertaining to Chinese or defective drywall in the Property; or
- Seller has no knowledge of the existence of Chinese or defective drywall in the Property.
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