Advice needed on flip deal

[Account Closed]

I have a flip deal where the numbers make sense. The house is in a sought after area and I can easily make around 40K based on the comps even if we priced it lower than market. My dilemma is this. This is the first time I am dealing with a house that had a mold situation. It was built in 2002, so it is a newer house. I know a house will sell as long as the price is attractive enough. Would the fact that the house had mold at some point be a deal-breaker for most buyers or would they be willing to look past it as long as the current inspection is clean. What has your experience been? Appreciate your advice.

[J Scott]

You shouldn't have any issues selling...assuming you do this:

1. Use a licensed company to remediate the mold

2. Use a qualified contractor to remediate the issue causing the mold

3. Use an independent testing company to do an air quality test to prove the mold has been removed

4. In the Seller's Disclosure Statement, be short and to the point...something along the lines of, "Upon Seller's purchase, house had mold. Mold was remediated by a licensed remediation company, source of mold was remediated by a qualified contractor and air quality tests (available upon request) indicate that all issues have been remediated."

As long as you do the right thing, disclose it properly without alarming anyone, offer to present the independent testing results and leave it at that, in my experience you shouldn't have any issues selling.

Again though, that's my experience...