Thinking about.....buying home with mold

[Grahammey]

maybe time for a new boyfriend. ;)

[Banty]

It might not be a big deal, then. Is the mold known, or presumed? You'll have to disclose, but you don't have to disclose what you don't know about, let alone what you looked for and didn't find.

DANGER WILL ROBINSON. (Or rather, danger Cherie).

Your boyfriend is your boyfriend, not your business partner or your husband. With no legally recognized financial relationship, you can be taking a bath on this all alone.

If he has been flipping houses, where are the proceeds from that, or has he been successful?? Why isn't he funding the purchase of this house if he wants to make a project of this?

Think about it...

Banty

[cherie9g via HomeKB.com]

I did not mean this..... he is just used to flipping homes and I want to actually live in one. Trust me, I am putting my foot down on this, it is just tempting to him because he thinks that (if the mold issue isn't bad and is just surface mold) he would do a few things to make it look nice and put it back on the market.

I on the other hand would like to live there for a little while. I have a "real estate" plan......I am sure all of you have heard it. Live in a place for 3-4 years, sell it take that equity roll it over into a little nicer of a home, live in that one for 3-4 years, do the same thing...and 3-4 times doing that, you will be in a home that you love.

I have to get started somewhere, but I am w>> I do not think the market is the best right now to flip, although I am

[Banty]

Now that I've read further back in the thread, I *would* rip out the sheetrock to remediate this house, and that should be considered in your calculations (if you do buy, and I'd still advise not buying your bf's next project).

You're not qualified to determine what kind of mold is in the house; it has set up pretty much everywhere to one extent or other. You'll have to disclose, and you won't be able to disclose what kind of mold it is.

Walk away unless you're really looking at this as your long-time residence. If the latter, have a plan for paying for everything on your own if you and bf break up.

Banty

[longshot]

if you don't have a professional mold specialist come out & make an exaggerated report to drum up business for his company, there will be far less to disclose, eh?

[Banty]

Certain relatively rare molds hurt certain relatively rare people who are very sensitive.

Calm down.

Yes, mold has to be disclosed; in a weak market it's a detractor. But let's not get nutty about this.

Banty

[Steve B]

And you're a highly trained experienced professional with all the knowledge and testing equipment to identify and evaluate this mole. Right?

We pulled up the carpet and there was no

Ah yes, scientific testing and remediation.

The wall

Just wait until you see if you start feeling bad or having breathing problems.

If something forms I will consider sending it in to see if it

By then, it will be growing in your lungs. You should see a medical specialist, too.

Sounds like you're planning an exit strategy already. If you DO make any money on the house, I'd put it in a special account to pay for the legal costs. It won't pay for them all, but it might get you started.

By then, you will know if you are right, or you'll be dead. Won't do as you're told? You need to find another boyfriend unless you like to be manipulated, controlled, intimidated, and slapped around. And in case you haven't heard the news lately, or seen a newspaper, yes, the market right now is "down", and that's putting it kindly. There's lots of houses for sale out there, and as a buyer, I wouldn't take the one out of 100 that had a serious mold problem. I'd take one of the others that are going cheaply today.

Steve

[Steve B]

Perhaps you might be interested in this house, then? Would you want to live in it?

Steve

[GROVER]

After reading all posted replies to your OP, the consensus is that you need an experienced unbiased (with nothing to sell and with laboratory facilities) specialist in the mold business. According to Murphy,s Law (If something bad can happen, it will). If you take on this project there is risk involved. Be certain that all future buyers will somehow learn the history and look for a discount in purchase price to compensate them for their uncertainty. A successful flip would require your remediation costs to be as your estimate ( just bleach and paint) and a future buyer to accept the house as untarnished. If it works out this way you come out fine. But as Dirty Harry said, "Are you feeling lucky"

[longshot]

Mass panic by another save the world know it all. Mold & Radon gas have been around forever. We all grew up with it. don't freak out.

The preservatives in our everyday foods are far worse than anything on the walls.

you guys do know that antibiotics are also molds & they SAVE lives.

dry it up, seal it up, move in. forget about it

[Banty]

Now *you've* gone on to a shrieky emotional argument. Exhibit A about folks going nutter about this.

My answer, as usual, would depend greatly on the circumstances.

Banty

[Banty]

"Cherie" said that, not me. Which I would just interpret as a case of piggybacking (I never thought that was such a bad thing in Usenet...), except that below....

...you seem to have confused my response with her writings.

She's not qualified to say so in a disclosure, sure - - but death?? Oh, my my...

Whoa whoa! Being careful about investing with someone without any financial relationship is one thing, but the rest of this?

You're being hysterical.

Banty

[Charlie Morgan]

You are underplaying it to at least the same extent that he is overplaying it.

CWM

[Chris Lewis]

According to GROVER :

I agree.

If it were me, the deciding point would be how much structural remediation has to be done in the flooded basement (clearly the walls have to come off. What about studs, ceiling etc?), and whether the mold in the upstairs can be proven to be surface-only (from the very high humidity in the flooded state), needing only a really good scrub and proper treatment with Kilz or whatever, or...? Then cost out the repairs.

[Steve B]

I'm sorry. How do the two sentences I quoted qualify as a "shrieky emotional argument"?

Steve

[Steve B]

Sorry, but as the thread becomes more complex, and with the snips, it becomes almost impossible for anyone to exactly quote who said what.

I just know two things. Cherie has two problems. Mold and a boyfriend who's "pressuring" her.

I did get that much straight, right?

If so, that about sums up my position.

Sorry if I got your posts mixed. I promise it WILL happen again.

Steve

[Steve B]

"Charlie Morgan" wrote

Thank you, CWM. At the present time, I own four houses and land in three states. In my life I have owned six houses previous to that, and two of those I did an owner contractor on. I have done many remodels and building trades work. At the present time, I am negotiating for 4.13 acres on which to build 8 houses for sale. I did not just fall off the turnip truck.

That said, I can only say that I ME personally, would never even consider a house that has mold problems. And that included if I got to the point where the house looked good, and the mold was revealed by inspection or the disclosures.

That's just me. There are certain deal killers when it comes to houses, and every person has theirs, be it located on a busy street, poor drainage, lack of landscaping, site irregularities, and on and on and on. Each of us has something that they would not even go look at. And there is no need explaining to everyone else.

If you're buying a house, and you're happy with the deal, and full disclosure has been made, go for it. If you're selling a house, let your conscience be your guide, and have a good attorney if you don't have a good conscience.

Steve

[HeyBub]

I might. A couple of thousand worth of paint then flip it for a $75,000 profit.

[Steve B]

What about the mold?

Steve

[Tony Hwang]

Hmmm, To me it sounds like you are buying a house worth 126.5K as is. 190K does not apply at the moment. After you fix it, if you want to sell, you have to disclose it was a house with mold. I don't think many would-be buyers will be interested. If you don't disclose, that's cheating. Becomes legal matter.