Use Caution When Buying Foreclosures: Mold Testing Issues May be Lurking

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Knowing as much as you can about the home is very important. Often foreclosures are sold as is and as a result, many looking to purchase a foreclosure home may forgo the inspection process, especially if they feel the price is good and it's just a cosmetic issue. However, this can be a major mistake. Home inspections are a critical part of any home buying process and should never be dismissed. Even more important in the purchase of a foreclosure home are mold inspections and testing.

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For anyone considering purchasing a foreclosure home in today's market, Steve Levy, a certified mold inspector in New Jersey, has one word of advice, "Caution!" With foreclosures in the real estate market at an all time high, when one sees an opportunity to buy a foreclosure home, the first thing they may think about is how cheap they can purchase the home and what a great deal they can get. While purchasing a foreclosure home can be a great way to save thousands to tens of thousands off the purchase price of comparable homes, foreclosure homes can come with some issues both hidden and apparent that can make what was thought a great deal, a home that becomes a financial nightmare and money pit!

Knowing as much as you can about the home is very important. Often foreclosures are sold as is and as a result, many looking to purchase a foreclosure home may forgo the inspection process, especially if they feel the price is good and it's just a cosmetic issue. However, this can be a major mistake. Home inspections are a critical part of any home buying process and should never be dismissed. Even more important in the purchase of a foreclosure home are mold inspections and testing.

It is not uncommon for foreclosure homes to sit vacant for months to even years. Throughout this time, these homes may not have any climate control. Consequently, without the proper climate controls moisture intrusion from high relative humidity and chronic minor water leaks that are neglected can cause serious mold growth and contamination. Many times the mold contamination can go unnoticed until someone moves in. Not the time you want to uncover a problem.

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