Hi All: I was wondering if a house with asbestos on the boiler can be sold without having the asbestos removed. Can a potential buyer get a mortgage to buy such a house?
I have asbestos on my boiler and I have refinanced twice. Not once has the complained or asked me to have the stuff removed.
If I sell my house I would like it to be an "as- is" deal. The asbestos is in good shape and does not need to be removed.
As long as the lender doesn't get a copy of the inspection it shouldn't be an issue.
Yeah, appraisers usually don't get involved in mentioning asbestos.
This is Turtle.
I think your tring to turn into Ralph Nader here. I would just live and when you do sell it. JUST SELL IT AND LET RALPH NADER WORRY ABOUT IT.
TURTLE
Around here (SW Idaho), if you know about it you must disclose it to potential buyers.
DJ
David '04 KTM 200EXC djonesLSidaho.com
Personally I would not buy a house containing asbestos, but there may be buyers who don't care. Check your state/local laws about what information needs to be presented to potential buyers.
Asbestos installations like the one you describe have been * encapsulated * for years. As suggested by DJ, disclosure may be required. In any case, I'm not all that excited by passing on a problem without warning. Beyond ethics, there is potential for a law suit.
TB
What is important is the asbestos is solid and not flaking dust. Removal will release dust no matter how careful pros are. Keeping it painted and sealed will keep it safe. Disclosure is normal but removal is usualy not necessary and often not wise. Give it a few coats of quality latex. Sherwin Williams or another Pro store can direct you to the thickest paint they have.
Asbestos in a boiler is not harmful. It is doing a job (and very well, probably) and as long as it is in place, no big deal. It is only when you have to replace the boiler at some point that it may be a concern.
I don'tknow the real estate laws, but you may have to disclose it. Mortgage should not be affected either. There is plenty of asbestos that is safely installed and not bothering anyone. It is only when you make dust that it is a concern. You can touch it, you can encapsulate it.
Are you sure that it has asbestos, or just assume that it does? (Hint: you don't want to be sure)
Bob
I hear ya, Bob. It's the same deal with lead paint. If you have it inspected, then you "have it"
I think any home built before 1980 has the potential for lead paint. Expect it. Realtors will disclose lead in paint with every deal. Expect asbestos as well.
Hi, My understanding is as long as it is not disturbed, it is safe. But if it is falling apart or sign of degrading, it becomes health issue. Removing is upto pros who are trained and certified for the job. Tony
If it's intact and not coming off, it doesn't pose a problem. If you're really concerned about it, there are companies that will either remove it, or encapsulate it so that it cannot become airborne.
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