Past Mold Can Destroy Your Home’s Value

August 25, 2020 | David Hannum

If you believe your home has past mold damage, it’s important to get a full analysis to determine the extent of the damage.

Real Estate Attorney David Hannum discusses how past mold damage can hurt your home’s future and what you can do about it.

Need a Real Estate Attorney?

Schedule a case assessment at 303-688-0944, or you can go online to schedule.

Long-term Affects of Past Mold Damage

Mold is often associated with harmful side effects to your health. However, have you thought about the damages mold can do to your home even after it has been treated?

In Colorado, home sellers must disclose if their home has previously had a mold problem – even if the mold was effectively treated. That’s the law.

Past Mold Damage Hurts Home Value

There have been legal cases in Colorado where experts have testified that a home’s value declines between 15 and 25 percent when there is a mold disclosure.

That loss can eat away at the equity you once had in your home.

Impacts of Past Mold Damage:
  • damage to structural integrity
  • expensive repair costs
  • sometimes complete rebuilds are necessary

You Can Take Action

If there are no health side effects, many homeowners are anxious to just move on with their lives after a $6,000 mold cleanup.

What they may not think about is what will happen down the road when they get ready to sell their house.

Could you imagine losing between 15 and 25 percent of your home value because you had to get rid of mold?

The good news is, you may be able to pursue legal action against the party responsible for the mold damage.

Set up Your Case Assessment

If your home has past mold damage, it’s important to find out the full picture of the damage.

Our real estate attorneys can help you begin that process. Call us at 303-688-0944, or you can schedule online.

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