It should come as no surprise, with the condition of the market in recent years, that there are large numbers of foreclosed homes in South Jersey and throughout the state of New Jersey. For NJ buyers, a foreclosed home may seem like the right real estate fit with a modest price tag. Whether it is to fix it up for you and your family to move in or fix it up as an investment for resale, purchasing a foreclosed home can be a very viable option you.
Some South Jersey REO properties, if not most, may require a little elbow grease and love before the home is fit for occupancy. Since a home foreclosure is a lengthy process that tends to leave the home vacant for months, if not years, the property can suffer from various moisture related problems that can create conditions conducive to indoor mold growth. With no homeowner or occupants to immediately address problems like flooding, pipe bursts, leaks, indoor humidity, vacant homes tend to develop serious, widespread mold (apparent and hidden).
When considering the purchase of a vacant, foreclosed home, it is important that you take the time to thoroughly understand the conditions of the home prior to purchase. A moldy home is very salvageable with the RIGHT professional help. But, you should be fully aware of what you will be getting yourself into so you can set realistic expectations and avoid any surprise problems or unexpected and costly repairs.
Mold Inspection & Testing of a Foreclosed NJ Home
In addition to your standard home inspection, do some research and find yourself a certified mold inspection professional in New Jersey to have the property thoroughly inspected and tested. In some cases, mold development in a foreclosed home can be overwhelmingly obvious, but not in all cases.
- Mold is sneaky. If the New Jersey home has suffered from any undetected water damage during its vacancy (very likely), there could also be undetected mold lurking around.
- Vacant, foreclosed homes tend to get passed around from bank to bank and from realtor to realtor until it is finally sold and off the market. Each time the house is passed off, there are cosmetic changes made to the home in attempts to amp up its appeal to prospective buyers. As a consequence, mold often just gets covered up. Whether this is intentional or unintentional, it should not be ignored.
- The previous homeowners were clearly under financial turmoil. In which case, they might have needed to cut some corners when it came to home maintenance. Mold could have been covered up and unreported as an inexpensive solution.
When it comes to mold, out of site most certainly is NOT out of mind. Hidden mold in a South Jersey home can be just as serious as, if not more serious than, visible mold. Ignored, elevated mold growth, whether visible or hidden, will lead to potential health problems, property damage, structural problems, decreased properly value, and even potential lawsuits. Do not take someone’s word that the home does not have a history of water problems or mold. They might not even know about it! It is worth the nominal mold inspection fee to avoid buying into unexpected problems in the future.
Mold Removal in Foreclosed South Jersey Homes
Just because a foreclosed property has experienced major mold development, does not mean that the property is not worth the purchase. If you are committed to the process, and you take the time to research and hire a qualified and trustworthy mold removal professional in South Jersey to safely and effectively remove the mold, the property can be fully restored. However, if the issue is not properly handled by a mold professional, the mold will only create more problems further down the road.
In some cases, do to the unaccounted events during the home’s vacancy, the actual water source and causation may seem unclear to an untrained eye. The nature of water allows it to travel anywhere, so it can be difficult to track the starting point. A qualified mold removal professional will be able to get to the bottom of what caused the mold in the first place and ensure that the source is found and also properly addressed along with the mold itself. With the addition of a few post-remediation preventative recommendations, you can be confident that the mold is gone and will not come back.
While a moldy foreclosed home may be a challenge, there can be a proper solution that will make the home a great investment. If you are considering purchasing a mold contaminated, foreclosed home, call MasterTech Environmental today. Our fully trained team of mold remediation professionals will safely and effectively handle your mold remediation so that the home can, once again, be inhabited safely.
MasterTech Environmental offers certified mold inspections in Camden County, NJ and professional mold removal in Gloucester County, NJ. Call 1-800-310-3226 to arrange an appointment a MasterTech inspector today.