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How much will this lower the final selling price?
There is a home that I will be listing within the this December and the sellers had a question for which I thought I would get others advice on. They purchased there home in 2003 as soon as it was finished being built. Six months later they discovered a huge mold problem which had taken over the crawlspace. The home owners have been in a very long battle with the builders trying to get this fixed under warranty for the past six years. They are supposed to have a judge make a final decision on who is responsible for what sometime within the next week. Their attorney called me and wanted to know what my opinion was on how much less the home would sell for if the mold is not removed and all the issues causing the mold were not repaired. The home would sell for around $270,000 in todays market assuming it had no major issues or defects such as the mold. What is your opinion on how much it would reduce the selling price if it is not fixed? The estimated repair cost is around $30,000 to get everything repaired and corrected. I look forward to hearing your ... more

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