Hello Everyone,
I'm here looking for advice if anyone can help me I would greatly appreciate.
I found this great deal, bank owned 3 bed/ 2.1 bath brick house. The price is great and really underpriced in the area that is in where houses go for double the price. Now, the problem is it has mold, I'm not talking about a little bit of mold...in the basement all the walls are covered of small dark spots, the ceilings between floors are the same and the 2 bathrooms. half of the kitchen is in the same condition. On one side of the home there is a white part ( the brick has that white dust on it) from the ground all the way to the roof.
Overall this seems like a good deal, but I don't know how costly this can get, considering the wide area with mold. I keep thinking about it and I don't know what to do ( before paying big bucks to a mold specialist), if it's worth it.
Any ideas?!! Thank you.

If you need a loan to buy this place, most lenders won't touch this kind of deal so as to wrap mold remediation costs into a purchase loan.

Besides that, you'll need expert help from a company that does mold remediation to determine the extent of the problem and how much it costs to kill and remove the mold. Second, you may need a general contractor to re-build anything torn out by the mold remediation company.

There is a reason why that house is priced so cheap. Some mold is harmless and some can kill you. If you are a first time homebuyer, you should probably pass on this property. This is one for people in the trades or who regularly fix and flip homes to take on.

Exactly. Be very careful. You might be buying someone else's problem. A mold test is not that expensive. Find out if it is the deadly kind of mold. If it is then look for something else.

Make your offer to represent a worst case scenario. I have bought homes with mold and have never gotten burned. I bought one similiar to what you describe but I took it to the studs and put new drywall in the whole house. While it was down I had a mold company come in and treat it. I made a ton of money off that deal but I bought it right!

The BIG thing you need to know is what it the water source causing the mold and fix that immediately or the mold will return

I would Consider hiring a Mold Specialist for a Moisture Inspection and Mold Assessment. In my experience, usually Mold is a result of moisture. This could raise a flag on other issues of latent moisture intrusion.
I was a home inspector in another life specializing in Mold assessments.
I am not sure what the requirements are in IL, But in some states there are requirements. If you hired a home inspector maybe he can recommend someone licensed or Certified by AIAQA.
This may help you make an informed decision before you just jump in or possibly turn away a great deal...
AIAQA >> www.iaqcouncil.org