Should Agent’s disclose or not disclose?

Mold tends to be one of many significant issues when it comes to our homes.  This subject always produces at least two very important questions that seems to be difficult to answer.  How can you get rid of mold and does the existence or prior existence have to be disclosed when selling the home.  Both question are actually easy to answer, although the home owner and the listing agent may not like the answer.  These questions are discussed on this weeks Success in Real Estate Show with my guest, Larry Harris, expert in air quality and mold remediation.  

 Anytime mold is suspected, it must be tested to determine if it is toxic or not.  If it is toxic, it will have to be remediated by a licensed contractor trained in mold remediation.  There are some steps involved.  First, the company that tested the mold will establish the written protocol in which the mold will be remediated.  A second company should come out and actually remediate the mold according to the protocol established by the first company.  Upon completion, the first company will come back out to re-inspect to make sure all the mold is gone and was completed properly.  Because mold is a serious environmental issue, two companies should always be used to ensure the best results.  Having the same company do the remediation and post inspection can create some ethical issues.  It is always a good idea to schedule another inspection a few months later just to make sure it is completely gone and has not started growing again.

 The other question the home owner always asks their listing agent is, does the previous mold have to be disclosed to potential buyers?  The common answer seems to be, “if it has been fixed then it does not have to be disclosed”.  Sometimes, the answer is not that simple.  As we discussed above, the home owner should receive documentation from a licensed contractor indicated the problem has been remediate or “fixed”.  Toxic mold is a serious environmental and health issue.  Real Estate Agents have a legal and ethical obligation to check into matters of this nature.  Agents should never just assume the mold is fixed without receiving documented evidence stating the facts.  When it comes to health and safety issues, one should always verify be getting documented evidence.

 If you are interested in getting your South Carolina Real Estate License, we would love to have you attend our Real Estate School For Success.  We will train you to not only pass the state exam, but also teach you how to build a lucrative career in the Real Estate Industry.  We also offer many other licensing courses such as Property Manager, Appraiser, Home Inspector, etc.  The Real Estate School For Success is an approved MyCAA provider, which allows for many military spouses to take all classes at no charge.  Give us a call for details.  You can also receive a 10% discount on any licensing class by entering the promo code below when you register on line at the RealEstateSchool for Success.  This discount may not be used with Designation classes or promotional classes that have already been discounted.

 Discount/Promo Code is: Mold

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Posted in Real Estate Education