RADON TESTING AND REMEDIATION - DON'T LET IT INTERFERE WITH THE GOAL!
What is the goal for the buyer? Buying a home.
What is the goal for a seller? Selling the property.
FOCUS! FOCUS! FOCUS! Don't let a Radon matter be the focus.
RADON TESTING AND THE CONTRACT OF SALE.
Reuben Saltzman discusses Radon testing with a good outline for buyers and sellers. However, being a home inspector and not a Realtor, he is focused on the test and not the CONTRACT OF SALE.
Reumen writes about who pays for mitigation: "Ideally this would be decided ahead of time, but I've never heard of this actually happening"
IT, WHO PAYS, SHOULD ALWAYS BE DECIDED AHEAD OF TIME. In my experience, the matter of who pays for mitigation following a high test result is always covered in the Contract of Sale through the Radon test CONTINGENCY.
Buyer and seller agree to the terms and conditions for Radon reduction when the contract is negotiated, not after the test is completed.
Actually, the cost of Radon testing performed by certified testing companies is around $150 and the cost of remediation is, under normal circumstances, about $750-$1,200. In high Radon areas, the seller should already have done the test and any recommended remediation prior to listing the home for sale. If the seller has not addressed the Radon matter prior to listing the property for sale, the buyers have two options:
1. Test and remediate, if a high reading is received, after taking possession of the property.
Or
2. Make a Radon Contingency a part of the contract wherein the seller agrees, if a high reading is received, to install Radon remediation equipment to meed EPA standard.
If the buyer is interested in Radon testing, it can easily be performed and remediation equipment installed after closing.
For the life of me, I cannot see a Radon test and remediation being the cause of a buyer missing a good buying opportunity to buy or a seller risking the loss of a sale because of a Radon test and remediation.
DON'T FORGET TO REBLOG! THANKS.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
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