It’s not just here in California that mold problems lurk behind walls, under roofs and under floors. Our winter and spring weather, a mold-happy combination of wet weather followed by hot sunshine, has triggered mold growth for tens of thousands of potential homeowners. And they probably won’t know until it’s too late.
After the devastating real-estate crash of 2008 and the following years, many people were forced from their homes for many economic reasons. Now, the market is flooded with foreclosed homes that seem to have price tags that make home-buying affordable again. And even if you beat the investors to what seems to be a great deal, the old adage remains: Buyer beware.
Why? There’s plenty of reasons:
- Banks are not going to invest in the upkeep of foreclosed homes. They are selling them in order to recoup a part of their financial loss, not make it attractive to the next buyer.
- Unlike private sellers, banks do not have to disclose any problems or incidents that the property has experienced. Nope, not one. So if the last tenants flooded the upstairs with water before they left to try to punish the bank, or if there’s a slab leak lurking under the floors, you’ll never know. Even if you ask, they don’t have to disclose.
- The home could have been sitting empty with all the windows closed for months. Mold was most likely having a field day growing, growing, growing…
- They may have used an unscrupulous real estate agent who covered up some of the home’s more obvious problems with a coat of fresh paint and some new, but cheap, carpet.
- They may ask you to sign a disclaimer to say that you’re accepting the house “as is”.
- Fannie Mae and HUD homes are the ones that professionals have seen most of the cover ups in.
This is where you need to bring the professionals in to save you a lot of time, money, frustration and tears down the road. Even if you find the mold problems, the water damage or structural problems, you might not be able to force the bank to repair it before you purchase. And that’s when our report will save you money—what happens when you put your life savings into a home to find that the mold is so bad, you can’t live in it, but you can’t afford to remediate it either? An investment now can save your largest investment—a home purchase—down the road.
If you’ve been thinking of buying a foreclosed property, keep our number at hand: (877) 732-8471. Keep your eyes open while you’re looking through the property—look for damp areas, new drywall patches, in closets and even pulling up a corner of the carpeting to check for mold. If you see anything suspicious, give us a call! We specialize in mold remediation, water damage restoration and remodeling—we’ll help you turn that foreclosed home into your dream home.