Potential Buy and Hold

[Daniel Foster]

I am looking at a property that I feel I can buy at a significant discount, but it may be for good reason . . . In the disclosure, the line that reads "Substances, materials or products which may be environmental hazards . . ." is checked yes. Lets say there is mold in the property somewhere. Obviously you do the due diligence to make sure the issue is taken care of, but since there is a public record of there being an issue, is there some kind of sign off that needs to be done to state that the issue has been taken care of? I would plan to buy, renovate and rent, so I want to make sure I do everything above board. I walked through the house and there is some water damage, so I think the issue may be related to mold caused by that, but am not sure yet.

Any suggestions are appreciated.