MOLD!

[Darren Morrow]

I did a walk through of an REO today and it was in decent shape, but the broker said it probably wont be able to go to anyone but a cash buyer because of MOLD!

Any ideas on how much it costs to deal with the mold problem or is it a deal breaker and I should walk away?

The smell was terrible by the way.

[J Scott]

To add to the other responses, mold really isn't that big of a deal (generally)...

You want to make sure to get it remediated correctly (i.e., make sure you get all of it and treat with a biocide/antimicrobial if necessary), and if it the mold was bad, it might be worth getting the house tested for mold after the remediation. But once you determine the source of the mold, it's not too difficult to remediate both the issue and the existing mold. Once that's done, you should be okay.

I look at mold just like I look at an old roof, cracked windows or dirty carpet -- it's going to require bringing in a knowledgeable contractor or two, paying some money, and getting the work done. As long as you're not doing the work yourself, there's really no difference between remediating mold and installing a toilet...

Btw, in some states you will be required to disclose the mold to future buyers, but if you had the work done by a reputable contractor, you should also have a warranty that will ease the buyer's minds...