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Updated almost 7 years ago,
Basement mold - property in an upscale neighborhood
hello, looking for experts opinion. We want to place an offer on a house that is priced about 50% below it’s market because it has mold in the basement. We didnt have time to bring a mold mitigation contractor to look at it yet but from what we can see, at least 2 rooms and a bathroom in the basement will have to be demolished or gutted and redone after fixing the mold issue. After researching the cost of mold mitigation, i am estimating a worst case scenario of $35-$40k just to fix this problem. We still have to remodel the rest of the house and deal with rotten window and baseboards etc in some rooms on the main level. It appears owners neglected the house completely inside and out.
Has anyone here dealt with extensive mold in bigger higher end properties and what advises or experiences can you share? As an invistor, how would this mold issue affect the sale of the house in the future?
Any insight is appreciated. Thanks