Mold: The Latest Problem for Foreclosed Homes

More than half of foreclosed homes have problems with mold and mildew, according to estimates, making it important for buyers to ask their Realtors about infestation. Mold is more likely to grow in foreclosed homes that are sitting vacant because sump pumps are not operational, doors are not opened and closed on a regular basis, and the heating and air conditioning systems are not being used. The issue is of great importance to buyers because removing mold from ducts, crawl spaces, walls, and attics can cost anywhere from $2,000 to $6,000; and repairing structural damage caused by mold can boost costs to $30,000 or more. | Read More