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Banks Are Sitting On Thousands of
Houses With Mold And Mildew:
Would You Buy One?
Houses With Mold And Mildew:
Would You Buy One?
Everyone wants a bargain when it comes to purchasing a house. We are bombarded
with the news that interest rates are low, that house prices are falling and that now is
the time to buy real estate. We also hear that there are millions of foreclosure houses
that are just waiting for a willing buyer. But what about houses that the banks own that
are filled with mold and mildew, can these ever be a good deal for a buyer?
When you enter a house that has mold and mildew there is a "musty" smell. This is a
definite red flag. Mold rarely rots wood or does any structural damage to the house.
But there is surface damage which could be substantial. The visible signs of mold are
black specks or white spider web-like growth on the walls.
Mold needs to consume something to survive and that "something" is moisture. In
mold there are two components. One is the spores which is the reproduction engine.
This causes the spread of mold. The other component is enzymes. This is the
digesting and decomposing system. Anywhere there is moisture and high humidity
there is a potential for mold.
Where to find mold and mildew.
> Air conditioning duct joints.
> Behind vinyl wall-coverings.
> Behind and near the washing machine.
> Bathrooms.
How to fix your mold problem.
Installing a bathroom fan will help cure the mold problem in the bathroom. Also you can
wash the walls with a bleach solution, half bleach and half water. When the surfaces
are dry, prime with an alcohol base white pigmented shellac. Zinsser Bulls-eye is very
popular. Then use a paint with mildewcide.
If you decide not to deal with the problem yourself and call in a professional, it could
cost you thousands of dollars. A small job could run about $5,000. A larger more
serious job could be around $20,000.
Health problems with mold and mildew.
If you do buy a house with mold, the health problem would be important than the odor,
and the sight of mold and mildew. You and your family could be facing painful
headaches, nasal problems, scratchy throats, as well as lungs and breathing issues.
There will be red eyes, sneezing and runny noses.
Would you buy the house?
The question now is "knowing what you do, would you still buy the house?". The stigma
of mold and mildew affect the price of the house. The seller might be willing to fix the
problem or at least to take the cost of fixing the mold issue off the price.
When buying a foreclosure house the issue of mold and mildew has to be one of the
disclosure. However, only the home inspection can make you aware of the full extent of
the problem. Many foreclosure houses have been boarded and locked for two years or
more. Those with broken windows and leaky roofs have let in water and thus moisture.
There is sure to be a very serious mold problem with these houses.
If you have children or if any elderly relatives will be living with you, please think twice
before buying.
with the news that interest rates are low, that house prices are falling and that now is
the time to buy real estate. We also hear that there are millions of foreclosure houses
that are just waiting for a willing buyer. But what about houses that the banks own that
are filled with mold and mildew, can these ever be a good deal for a buyer?
When you enter a house that has mold and mildew there is a "musty" smell. This is a
definite red flag. Mold rarely rots wood or does any structural damage to the house.
But there is surface damage which could be substantial. The visible signs of mold are
black specks or white spider web-like growth on the walls.
Mold needs to consume something to survive and that "something" is moisture. In
mold there are two components. One is the spores which is the reproduction engine.
This causes the spread of mold. The other component is enzymes. This is the
digesting and decomposing system. Anywhere there is moisture and high humidity
there is a potential for mold.
Where to find mold and mildew.
> Air conditioning duct joints.
> Behind vinyl wall-coverings.
> Behind and near the washing machine.
> Bathrooms.
How to fix your mold problem.
Installing a bathroom fan will help cure the mold problem in the bathroom. Also you can
wash the walls with a bleach solution, half bleach and half water. When the surfaces
are dry, prime with an alcohol base white pigmented shellac. Zinsser Bulls-eye is very
popular. Then use a paint with mildewcide.
If you decide not to deal with the problem yourself and call in a professional, it could
cost you thousands of dollars. A small job could run about $5,000. A larger more
serious job could be around $20,000.
Health problems with mold and mildew.
If you do buy a house with mold, the health problem would be important than the odor,
and the sight of mold and mildew. You and your family could be facing painful
headaches, nasal problems, scratchy throats, as well as lungs and breathing issues.
There will be red eyes, sneezing and runny noses.
Would you buy the house?
The question now is "knowing what you do, would you still buy the house?". The stigma
of mold and mildew affect the price of the house. The seller might be willing to fix the
problem or at least to take the cost of fixing the mold issue off the price.
When buying a foreclosure house the issue of mold and mildew has to be one of the
disclosure. However, only the home inspection can make you aware of the full extent of
the problem. Many foreclosure houses have been boarded and locked for two years or
more. Those with broken windows and leaky roofs have let in water and thus moisture.
There is sure to be a very serious mold problem with these houses.
If you have children or if any elderly relatives will be living with you, please think twice
before buying.
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| Foreclosure Homes With Mold Might Not Be Worth The Money You might be tempted to go out and by a foreclosure home even if the home has mold. Don't be so fast! Mold is hard to get rid of. And it could be a costly process if you bring in a professional to do the dirty work. Think of your family's health. They could suffer for years with headaches, skin rashes and breathing problems. Watch the video. |
