Posted by Redline on January 18, 2004 at 14:50:11:
My opinion on this is to RUN, not walk.
Personally I would never get involved with a property like this. This will require a professional remediation for sure, and I wouldn’t feel comfortable even after that. Somebody gets sick in the property 2 years from now, they’ll be looking for you.
And even if I would entertain this, the numbers look way too tight anyway. There are easier deals out there.
Just my opinion.
RL
Surafce Mold, $80K in Equity - Posted by Mike Cerni (IL)
Posted by Mike Cerni (IL) on January 18, 2004 at 12:45:20:
3 Bed 2 Bath Brick Ranch in a Western Suburb of Chicago.
FMV: $210K+, Asking $130K. Bought/Appraisal done 3/03, @ $208K.
House was in foreclosure 3-4 years ago. It was vacant for 2 years, somewhere in there this happened. Neighbors informed owners there was 2 feet of water in the basement, floors buckled on main level on house, etc…
Rehabbers didn’t bother to get the mold out.
Owner had inspector look at house and thought mold in basement on floor joists was dirt. There were partitions in basement and water/mold seeped up to main level on house. It is visible on the basement ceiling joists, on some duct work, behind dishwasher, oven range, behind kitchen cabinets, on subfloor, in bathroom floor, and between drywall etc…
It is on the drywall throughout the house halfway up to the ceiling.
All the drywall in the house at least up to the ceilings needs to go and probablly the kitchen cabinets, flooring, bath cabinets, old insulation, and so on.
There is no visible mold in attic, or on insulation in attic.
Has anyone ever done a mold remediation on their own?
Would anyone recommend doing this on their own?
If I documented and took picture of all of this would I have a hard time selling this house?
Bids from a remediation co. come in between $9-25K. It could cost me $1500 to do it on my own.
I understand the principal of doing the demo. Cleaning the mold with bleach/water solution, and then painting over it with Killz. Am I missing something?
I’d hopefully be able to get a company in after to do an air test, and certify that it has been taken care of.
Would it be best to have a company do the entire remediation?
Furnace, Sump, Electric, Plumbing, Security Sys, are OK. Hot Water Heater has rust on the bottom.
It would need drywall throughout the house, insulation, a new Kitchen, 2 new baths, Hot Water Heater, and a window.
Thanks in advance for any information ,
~Mike