mold: Why aren't banks disclosing Mold????
- 11/19/09 12:18 AM
Are Realtors obligated to disclose mold problems in a foreclosure? The short answer is yes, but unfortunately things aren't always done as they "should" be. Why Should It Be Disclosed? A mold problem in a home falls into the category of "Material Defect". In the state of Maryland, any Material Defects that are known by the seller or listing agent must be disclosed, regardless of the Annotated Code of Maryland, Real Property Article, Section 10-702. The catch is that the seller must have knowledge of the defect. Banks Don't Disclose Banks typically avoid making any sort of disclosure, and rather sign … (13 comments)
mold: Got Mold? Know Your Options (And protect your health) When Buying a Home!
- 07/11/08 10:39 AM
You may or may not be surprised to find out there are quite a few foreclosures on the market in Charles County, Prince George's County, and Southern Maryland that are suffering from mold problems. I've found myself walking into homes on more than one occasion that had serious mold growths that were not mentioned when I made the appointment to view the home. Perhaps agents don't realize the health/legal risk they are putting themselves in, and the risk to other agents, buyers, etc.; or perhaps they don't care. Because I work with foreclosure buyers on a regular … (3 comments)
mold: Secret Room Leads to Mold Problems
- 11/04/07 02:29 AM
Imagine finding a "secret room" in your house.Jason and Kerri Brown of Greenville found a secret room in their home behind a bookcase, and what was inside was a massive mold infestation. It seems that the bought the home from foreclosure and decided not to get a mold test done. It seems that the previous owner left a note detailing the mold problem inside the secret room. The note read something like this: "Hello. If you're reading this, then you found the secret room. I owned this house for a short while and it was discovered to have a serious mold problem. One … (7 comments)
Are Realtors obligated to disclose mold problems in a foreclosure? The short answer is yes, but unfortunately things aren't always done as they "should" be.
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