Removing siding that contains asbestos.

[Michael Tranzilli]

BP,

I'm looking to purchase a multi-family that's in foreclosure. My wife and I want to owner occupy. My strategy is to go with an FHA/203k loan because the property needs some work. This would be our first deal and our first renovation. The seller has disclosed that there is asbestos in the exterior siding of the property. Is there a way to remove it? Either the present owner or a previous owner covered it all up with vinyl siding. Is this a deal breaker?

Michael 

[Bryan Devitt]

Those shingles are very common. the asbestos inside them isn't released into the air until the tiles are broken. If they're covered, there is nothing to worry about. It is costly to remove them, which is why almost no one does it.