Thursday, August 25, 2011

Mold in the home

Here is a link to a recent debate about buyer agency and mold in a home when there is a purchase contract. There are two lessons to be learned here. One is that it really is best for the buyers in a home purchase transaction to have their own representation. The seller's agent has an obligation to treat buyers fairly but whenever an agent is wearing "two hats" in a transaction there is always a greater potential for conflict. The second lesson is that if you are looking at a home and see mold, the a little red flag should go up in your head. Mold in itself is not necessarily a dangerous issue but if it is present in a home, then you need to be aware that the lender usually is going to have problems with it if the problem is not remediated before settlement.

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