Hi-- I hope you can help. I am interested in a house not on, but near a lake. The entire property is pretty much ledge. This is a vacated, I think bank owned property that sold for a little over 200,000 in August of this year. I've been told a lot of these homes are coverted cottages---
Problems--the house smells like a wet basement--there is a greenish mold growing on the bathroom door and I saw a blackish mold growing near the baseboard, near the heating element. The paneling is bowed in the hallway either from poor construction or moisture. The ceiling in the living room was installed improperly and will have to be replaced. The real problem is that it is for my son and even with all that we really like the place!! The house was 151 now reduced to 127,000. My questions---am I crazy to even consider this house, knowing it has potential mold problems?? Is there a price that would make it worth the investment? Should I be concerned about constant moisture because the property is mostly rock and it is near a lake? (maybe less than 1/4 mile away) If I thought I could get rid of the mold the place has potential-- HELP-- I really need some feedback--it is also worth noting my son can do a lot of the construction work himself.

Your time line doesn't make sense ! If it sold for $200,000 in August of 2008, and this is November, 2008 . . . . there simply hasn't been time for a Delinquency followed by a Foreclosure, then a Listing at $151,000 which required a Reduction to $127,000 - all within just 12 or 14 weeks ? Doesn't Compute !

Thanks for the reply. After I read your reply I emailed the listing agent asking him how could a house be sold in Aug. and foreclosed soon after.

He said it doesn't matter why, it is foreclosed. what do you think of that reply. Maybe the bank bought it for 216? Not sure what happened--he also said there was an offer in on it---- I was just curious as to what you thought of his answer.

I think my own thoughts on that "answer" are of too little value to post here; but if you are curious, you can go to the Town or County Land Records and read what has actually transpired on that property recently (during the past 2 years or so). These records should have all been recorded and now be of Public Record; and should not cost you much to access. (I think Connecticut may charge you an hourly rate for your time in the Vault - so read fast!)

After doing that research, you may know more about the Property than the Listing Agent. And you'll know if you're dealing with a Liar. Once someone lies to you, you can't trust anything else that they send forth; so go away and Count your Blessings !

Regarding "Mold", do a search using the box to the right, and you'll have plenty of current opinions regarding what can be done about it. I'd rather deal with Mold than deal with a Liar ! (Just an aside.)

What you saw might be mold or it might be mildew. If it is mold it might be one of the thousands of harmless molds or it could be the deadly type.

The only real way to know for sure is to have it tested by a professional certified mold remediation company. Make sure your contract has a contingency for passing a mold test and then you will know for sure.

The best advice I can give to you is don't move ahead with any of the sale negotiations until you have a proper inspection done of the house. The inspection will let you know how much of the house could be tarnished by mold or the amount money you are going to have to put in the house to fix it.

Larissa Rubijevsky


http://www.pvview4u.com

Here in Minnesota, we do always encourage our buyers to do a full home inspection, and as needed, have a certified mold remediation company come in as well.

Once the buyer is able to complete these inspections, he or she can make an informed decision on the purchase of the real estate. If it makes sense at the price offered, etc.

I hope this helps!

Good morning, Quest:

Frankly, mould is not your biggest problem as “Vermont” pointed out –

Contrary to the comment by “Bigtoe,” there is no such thing as “deadly mould” and “testing” is performed almost exclusively by get-rich-quick “Mold is Gold” charlatans. Legitimate mould assessments almost never involve “testing” and legitimate mould experts almost never perform “tests.” Finally, legitimate mould experts very seldom have the word “certified” before their title. Typically, only poorly trained consultants have the title “certified mould…” whatevers.

The LAST person on earth you should have perform a mould inspection is a “certified mould remediation” company. My extensive experience is that they will always conclude one thing: “It’s toxic mould and you need to spend enormous amounts of money on remediation.” This will be the conclusion even if it’s not mould, and no remediation is warranted.

I have addressed mould sampling and testing here:
http://forensic-applications.com/moulds/sampling.html

Cheers!
Caoimhín P. Connell
Forensic Industrial Hygienist
www.forensic-applications.com

(The opinions expressed here are exclusively my personal opinions and do not necessarily reflect my professional opinion, opinion of my employer, agency, peers, or professional affiliates. The above post is for information only and does not reflect professional advice and is not intended to supercede the professional advice of others.)

AMDG

Caoimhín - I couldn't agree more.

It should go without saying that any inspection done on a house, whether it is for mould or structural issues, is done by someone who will not be doing the repairs/remediation.

When we real estate agents use the term certified, we use it to say that the person hired to do the inspection, whether it is for mould or structural issues, has been trained and holds some kind of certification that they are capable of performing the inspection.

A Forensic Industrial Hygienist is just one type of certification.

Good point, Bigtoe...

With the caveat that in the U.S. and Canada, a 9 year old child, (or a grocery clerk, or a garage door installer, etc), with NO training whatsoever in indoor mould, mycology, sampling, or mould inspections can sit down at their home computer and print out a "certificate" that officially declares them to be a “Certified Mould Inspector.” And now with complete legitimacy the can call themselves a CMIS, or a CMRA, or a CMIRS, or a variety of other meaningless initials and market themselves as a “certified” mould inspector. Although there are several private companies that issue certificates, there are NO recognized authoritative organizations that issue such "certificates." In fact, tomorrow, you could set up the "Bigtoe International Mould Association" and start issuing your own certificates.

Unquestionably, the LAST person you want performing a building assessment for mould is a “certified” mould inspector. Without exception, the WORST mould inspections that I have seen have been performed by consultants bearing the title CRMI, and CMI, and other similar initials. (And I have been doing this for 20 years). In fact, I have NEVER, without exception, EVER, seen where a certified mould inspector EVER performed a legitimate assessment for mould. Here is an actual critical review of such a such an “expert” (placed in the internet by the client).

http://inspection-perfection.com/main/pdf/critical%20review%20test%20results.pdf

Cheers!
Caoimhín P. Connell
Forensic Industrial Hygienist
www.forensic-applications.com

(The opinions expressed here are exclusively my personal opinions and do not necessarily reflect my professional opinion, opinion of my employer, agency, peers, or professional affiliates. The above post is for information only and does not reflect professional advice and is not intended to supercede the professional advice of others.)

AMDG