The presence of mold in a listed property can either make or break your sale. It can sometimes be difficult to placate your clients and prospective buyers, especially with skittish first-timers who have only racked up hours of watching HGTV in preparation. Mold is a common occurrence, and it doesn’t have to be the end of the world if it shows up on the inspection report.
Our mold remediation company, Moldman LLC, regularly works with real estate agents (buyers and sellers) on a daily basis in the Midwest region -- from Illinois to Kansas, Missouri, and Oklahoma. Here are 5 ways to save a transaction (and your hard earned commission!) when mold is involved with the home-buying or selling process.
1. A few inches of mold is found in a small area and your client is worried about a large-scale problem within the home.
You should first explain to your buyers or sellers that mold only grows where there is water or humidity.
If mold is only identified around areas where condensation is present, there is no need to start ripping out walls in other areas of the home that are dry. Focus on the area where the water and mold growth is occurring and remove the mold at its source (e.g. the drywall and wood trim around the window) and eliminating the water source (e.g. window condensation). As for maintaining the space after the mold removal, there are also other simple, noninvasive steps to take -- investing in HEPA air purifiers to remove any airborne mold spores is an inexpensive way for your clients to reduce the possibility of mold cropping up again.
You’ll be able to close more deals by explaining to your buyers and sellers that in such a scenario the mold is usually confined to one small area and can sometimes be remediated by a “do-it-yourself” client who has a few basic skills, or by a professional remediation company like Moldman for far cheaper than you would probably expect.
2. Some mold has been identified and you are not sure how much to disclose.
One of the first things you may want to tell your sellers or buyers is: Not all molds are bad!
Explain to your buyer or seller that mold is everywhere – in our homes, in our offices, and even in the fresh air we breathe outside. Many of the media reports on mold are often over-hyped; mold is a natural organism that contributes to the quality of life. In fact, it improves our lives by breaking down dead leaves and trees, helping to make certain types of cheeses, and by being the basis of modern antibiotics like penicillin. However, despite these useful purposes, too much mold in a home actually can pose a health risk. Currently, there are no federal guidelines that define exactly how much mold is unhealthy -- which is something that your client should understand.
Generally speaking, you should not be able to see actual mold growth or smell it within the home.
3. Mold is disclosed or identified but you are not sure whether you need to hire a professional to remove it.
A minor mold problem is usually a space that is less than about 10 square feet and can easily be handled by the owner with a free weekend afternoon and a few basic supplies from the hardware store.
If your client prefers to hire a professional mold removal and remediation company instead, the job should not be very expensive for minor problems. You can close more deals by advising your clients that minor mold problems should never be costly to fix and can often be a one-day DIY project.
4. Your client is on a tight deadline to close and concerned about there not being enough time to remove the mold before the closing date.
Mold can actually be removed in a few days by a professional company and should not stretch out the time it takes to close the deal. There’s enough to be stressed about when closing a deal, so give everyone the peace of mind about the quick turnaround time for mold remediation. When done by trained professionals, the job can usually be finished within 1-3 days.
5. Mold problems indicate water problems within the household.
Whether you are representing the buyer or the seller, this is an important fact to keep in mind about mold. Help your client understand that the presences of mold can be seen as a good thing – i.e. it can call attention to a bigger water issue and helps prevents the parties involved from being caught off guard after the closing has finalized.
Remember that water problems can not only trigger mold growth but can also damage building materials and reduce the longevity of the home. Remind clients that although mold within the home is undesired, it can really be useful in helping to identify a potentially bigger water issue.
