Good Deal with Asbestos Siding? Anyone have Experience with the Costs of Removing/Covering it?

[Brandon Turner]

I'm looking at property (for a potential flip) that has asbestos siding. I'm wondering, should I:

1.) Cover with Hardi and have to disclose it (would that scare buyers?)

2.) Remove it (using a certified contractor) - any idea how much that would cost?

Any ideas?

I can get the property for $40k, and I can put $30k into the inside, with an ARV of $120k. So, that leaves not a whole lot for siding fixes.

Any ideas?

[Bill Gulley]

Brandon, here there is no issue with asbestos siding if it's not broken. It can be painted heavily, sealed and it's not been an issue.

It is an issue when it's broken, chipped and exposing the asbestos filiment. Even when a corner may be chipped, if it is sealed it may be fine. The issue is exposed asbestos.

Here, they don't want you laying other siding over the asbestos as they claim driving nails breaks the old siding, putting a hole in it an thereby exposing the filiment, I think that's nuts too, but that's the position. So, to put up new siding, the old must be removed and done by a licensened contractor.

The type of siding will probably be noted on the appraisal and then may be an issue with a lender, my last encounter was fine so long as it was in good condition/unbroken.

It may be an issue of marketability, newer siding looking better, I'd look close at the price range and see if that improvement really pays for itself.

Now, let me say, I'm not upon current EPA stuff that's been going on, if it's a compliance issue, you may need to have it removed $$$$. :)