As the number of REO (Real Estate Owned) properties rises, the link between foreclosure and mold keeps growing.
Mold infestation in bank-owned, vacant houses is a serious problem throughout the country. Water, sewage, flooding and leaking problems go untreated when there the homeowner is missing. Even in the event of natural disasters, unoccupied homes in humid areas can quickly become infested with mold. The recent real estate collapse has led to a growing number of moldly, abandoned REO homes.
Any mold, but particularly black mold, can scare away buyers and drive the price of the real estate. Damage can be intensive, requiring large remediation efforts to make the home habitable again.
Once a home, condo or apartment building is severely infested, it can become difficult to remove hidden mold. A qualified mold inspector is needed. In the worst cases, floors and walls must be torn away to correct the problems. Many REO properties do not have documented histories about past conditions or treatments.
Infested foreclosed properties present challenges to future real estate transactions. A properly cleaned up mold home can be sold. However, if the issue not properly handled by a mold professional, the mold problem creates a high risk of lawsuits down the road, particularly if the new owner experience health problems due to new mold growth.
Remediation must completed properly in order for a foreclosed home to be once again inhabited safely.
H&H Environmental Construction and Consulting is the industry leader in mold removal and prevention. Having completed thousands of mold inspections and remediation jobs, our professional staff is experienced in handling even the most severe mold contamination projects. We also offer the best guarantees in the industry.