Monday, March 12, 2012

The home we are looking at has possible mold and or mildew, plus other insulation and venting problems. What are the laws concening these issues in Virginia?|||If the home you are looking at has these issues, there is no legal onus that it must be repaired or fixed by the seller before you purchase; the only exception is if the home is condemned by the county for being a health hazard based on an exceptionally high mold or mildew count.
If it's disclosed then it's buyer beware.
If it isn't and you find this out through the inspection process, then you will have to cite that issue and modify the sales contract accordingly to assure the problem is fixed. The final inspection after the repair will determine that set of facts.
Since you have not purchased the home yet, and it is not clear from your question if the mold and mildew issue has been properly disclosed, it is hard to know what law would apply.
The law requires that the sales contract be honored, and part of that deals with repairs if it is added to the contract.
Yet I know of no specific "mold and mildew" laws on the federal or state books, that are related to the sale of real property.
Good Luck.|||Be sure your contract is contingent upon a mold inspection. Have the mold swabbed and an air sample taken and sent out to a lab for testing. Chances are it can be easily cleaned with bleach, but beware of stachybatris (misspelled I know, it's the toxic black mold. If toxic mold is present, your contingency will get you out of the contract. Good luck. By the way, why are you buying a home you know has so many problems? Yikes!|||Per law, the seller has to make full disclosure of such damage. Such damage in the house can make the collateral of the property sub-standard and/or yield a lower value to the loan amt and it would be difficult for you to complete the financing per the purchase price. Also, this is the kind of thing that also get's the city involved esp. if you plan to lease the property out as you would not be able to get an occupany permit until the repairs are made and the hse passes inspection.

So....if you are still keen on the hse, get an inspection and a quote of cost to cure and try and negotiate a new lower price. Provide the quote to a bank and see if they will provide financing for thr purchase and repairs. Rule of thumb is that the cost to cure should not exceed 15-20%....

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