Nearly 47% of residential buildings in the U.S. have mold that can be seen or smelled, especially in humid areas like Florida. While a small amount of mold may not raise major concerns, extensive mold growth can complicate the selling process.
According to the EPA, homeowners can typically clean mold that spans less than 10 square feet themselves. However, mold that results from significant water damage, is widespread, or contaminates the HVAC system typically requires professional remediation.
In Florida, selling a home with mold is possible, but disclosure is mandatory. This may cause traditional buyers to request repairs, negotiate credits, or walk away altogether. However, cash home buyers like Florida Cash Home Buyers will buy as-is without requiring you to handle remediation or repairs.
If you need to sell your house with mold in Florida, this post explores your options and helps you decide the best approach for your situation.
Sellers Must Disclose Mold to Buyers
According to Florida state law, you must disclose mold to potential buyers. Fla. Stat. § 475.278(2d) specifies that sellers must disclose “all known facts that materially affect the value of the residential real property and are not readily observable to the buyer,” which includes mold. The precedent was set by Johnson v. Davis (480 So. 2d 625), that sellers need to disclose material defects, such as a mold issue, that impact the desirability of the property.
Additionally, the Florida Seller’s Property Disclosure form considers mold to be an environmental hazard and requires sellers to indicate the presence of mold if they are aware of it. If you don’t disclose known mold issues, you could give the buyer grounds to back out and even set yourself up to be sued for damages.
How to Decide if You Should Sell or Remediate
If you’re dealing with a mold problem, selling may seem more appealing than handling costly remediation, especially if home insurance doesn’t cover the costs. When deciding whether to keep the home, remediate and sell, offer credit, or sell as-is, consider the severity of the mold infestation and the time and money each option will require.
Evaluate the Severity of the Mold Issue
Mold spores occur both indoors and outdoors, but once indoors and exposed to moisture, the mold particles can grow and multiply. Signs of potential mold include a musty odor, visible mold, or areas with water damage. You may also experience allergic reactions and health issues.
If any of the following occur, you should consult a professional for a mold inspection to help you assess the severity of the issue:
- Mold growth covers more than 10 square feet.
- You suspect mold is in the HVAC system.
- There has been significant water damage to the home.
- You smell mold or are experiencing associated health problems, but can’t see it. If this is the case, mold may be hidden behind drywall, under flooring, or in other hard-to-reach areas.
A significant amount of mold requires remediation issues, which can be costly.
Estimate the Cost of Mold Remediation
Mold remediation often isn’t covered by home insurance, especially if it’s from negligence like a leaking pipe that you could have fixed. However, it could be covered if the mold was caused by a covered peril like a fire being put out by water.
Mold remediation typically costs $1,223 to $3,750, depending on how much and where the mold is in your home. However, it could be as much as $30,000 for a whole house remediation services.
Removing the mold from the affected area is only the first step, as you must also find and fix the source of moisture. If you don’t fix the pipe leak or damp basement that caused the mold, then the problem will continue to reappear.
You may also need to repair areas damaged during the outbreak, such as damaged drywall or flooring. These costs are on top of remediation, which could influence your decision to continue to fix or to sell.
If you do decide to fix the mold, keep in mind that mold remediation specialists should be certified with IICRC credentials. You can check that a mold remediation company is certified by going to the IICRC Global Locator.
Options for Selling Your Home with Mold
If you decide that fixing the mold isn’t worth it, you will have to choose one of the following selling options: the traditional route with repairs, offering credits, or selling “as-is.” Selling as-is to a cash buyer like Florida Cash Home Buyers gets rid of the hassles of repairing or selling through an agent. Instead, you get cash upfront without having to negotiate with a buyer or make repairs.
Sell to a Cash Home Buyer
Selling to a cash home buyer is a good solution if you need cash and want to sell your house as-is. This means fast closing, no commissions, and no hidden fees—saving you the headache of dealing with the remediation process and repairs.
We are transparent about how we calculate our offers. We consider the home’s value, the potential value of your home after the repairs, and how much the renovations will cost. The final number is what we offer to you in cash. This means we will buy homes with severe water damage or other issues related to mold.
Make Repairs and Sell with an Agent
If you’re aiming to get the most money for your home, you might want to sell your house the traditional way. To get the best offer, you should make all the necessary repairs and front the remediation costs. If you do remediate your home, make sure to save all receipts, such as a home inspection report.
Many lenders, including the FHA, may not approve a loan with mold present in the house, so failing to remediate can limit your buyer pool. If you choose to sell your home with mold, you need to disclose the known defects and make sure the sale price of the home reflects the issue. Fixing your home and selling with a realtor can increase the sale price, but it will take longer and you will need to pay 5% to 6% in fees and commissions to the real estate agent in addition to paying for repairs.
Offer the Buyer Credit to Handle the Mold
If you don’t want to fix the house, you could offer the buyer credit to fix the issue themselves. Make sure the credit reflects the estimated cost of mold removal and repairs. You should also be prepared for potential buyers to request an inspection and potentially negotiate the credit based on their findings, which could change the final sale price of the home.
Sell Your Home to Florida Cash Home Buyers
Regardless of whether or not you fix the issue, selling a house with mold can be tough. While traditional home sales will require remediation and potential negotiation of price, Florida Cash Home Buyers can help you sell your house fast with a cash offer. Contact Florida Cash Home Buyers today to get an offer on your home.