From what i've seen on websites such as Zillow, even remedial properties are going for $330k +.

With a purchase agreement, there is typically an option to specify either "liquidated damages" or "specific performance" as the remedy for a failed contract.

And if you actually have a mold issue, you may need to hire an actual remediation company, not just rip some wood out and slather paint over the rest.So first order of business, get the testing done.

Appraisers may lower the Market Value because of the unpermitted work or not remedies that must be done to have a certain value.

I don't have that issue, either, and @Jean Bolger I hope you're able to get it remedied soon... but what prompted me to write was to say how impressive it is to see @Joshua Dorkin 's reply to the concern within 5 minutes!!

You may also want to weigh your costs to remedy this vs your deductible before you go calling the insurance company.If the basement is not finished space and you only have to pay for 2 hotel rooms for a few nights, you're looking at maybe $1K to $2K.

I've heard that "remediation" companies can cost a fortune and wondering if anyone has faced this situation, what are the ways to get it done properly but also not having to sell a kidney to cover costs.Many Thanks,AK

We WILL be getting a mold remediation certificate before installing new insulation and sheet rock.

The only remedy would be hoping that the tenants move so that rent can be adjusted up to market rates.So, yes, it's vital to raise rents every year.

The previous owner sold me the duplex and put in writing with my realtor that he would remedy the issue.