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Updated almost 10 years ago,

User Stats

128
Posts
23
Votes
Mitch H.
  • Investor
  • Denver, CO
23
Votes |
128
Posts

Question about Moldy Short Sale

Mitch H.
  • Investor
  • Denver, CO
Posted

MOLD is a four-letter world in most real estate circles.  As a buyer, I view it as a bargaining chip!  But thats about as far as my knowledge goes, and I am here to get some help.

1. Is a short sale with (at least) moderate mold financeable? If NO, then I'm out. End thread.

2. If YES, am I required to do a 203k or the like?

3. With a distressed short sale, am I allowed to do an inspection once under contract?

The list price was $100K and similar condos in the building are going for $200K. It is in the Denver area.

Disclaimer: I dont know if the listing is actually still active, so this post is 90% because I am curious, should this situation ever arise again.

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