Appraiser Calls Out 'Mold'

[bobbiburke]

I recently received an appraisal on a property which called out 'mold' and demanded remediation. I've never seen an appraisal like it. Is this usual?

 

[BRCJR]

I recently received an appraisal on a property which called out 'mold' and demanded remediation. I've never seen an appraisal like it. Is this usual?

I mention the "mold like substance" located in the basement, for example. I will include a picture and comment about how large an area it "appears" to be because I cannot see behind walls......etc.

I call it "mold like" because I am not a professional in that arena.

If the comparables don't have that issue I will, most likely, form my opinion of value on the lower end of the adjusted sales range.

 

[bobbiburke]

thanks for the info, BRCJR

 

[glenn walker]

It's considered a Health & Safety issue--I take photo's and recommend the lender obtain a mold inspection, from a licensed inspector who will determine what type of mold he/she is dealing with and what is required to mediate the situation. Often it's no big deal and fairly inexpensive-- Unless it has gone into the interior walls. Anyway if you are the buyer the appraiser did you a favor and if you are the seller the appraiser did you a bigger favor because often a new buyer or tenant will move in and a few months later they claim breathing or health issues--And attorneys love mold lawsuits. Anyway good luck hopefully it's no big deal but it's way cheaper than a lawsuit where some guy or gal shows up to court wearning an-oxygen tank and dragging his left leg all while his ambulance chasing attorney is informing the jury about how that deadly-mold ruined his clients life LOL

 

[Deleted member 80407]

I recently received an appraisal on a property which called out 'mold' and demanded remediation. I've never seen an appraisal like it. Is this usual?
[/QUOTE]

Unless the appraiser is a mold specialist, they should not state mold presence. If mold is suspected, a statement such as: an unknown substance found within property. Appraiser recommending for a further inspection by a qualify licensed inspector.

 

[Mr Rex]

Any fungal growth warrants further investigation by a specialist whether the appraiser calls it mold, a mold like substance, fungal growth etc. Not good and evidence of a moisture issue that needs remediation regardless of the naming of the fungi. Mold/fungi only grows with proper high moisture levels, a food source (anything organic) and temperatures in the proper range for the species of mold ...err mold like substance, fungi.

 

[Meandering]

Did it smell like mold?

 

[Terrel L. Shields]

Did it smell like mold?

Not all molds are that smelly especially when it has been dry for sometime (in the case of a wall leak) but often the musty smell in a basement is good cause to call for an inspection. Not all molds are harmful or toxic...think penicillin.

 

[Elliott]

OP said,

Unless the appraiser is a mold specialist, they should not state mold presence. If mold is suspected, a statement such as: an unknown substance found within property. Appraiser recommending for a further inspection by a qualify licensed inspector.

Oh please. If there is dogsheet on the floor in a bedroom then the appraiser is suppose to say what? Any 4th grader knows what 'mold' speckles on a wall look like. I take a photo, call it to the attention of the lender, they can decide what to do next. I was involved in one of the first 'health hazard' mold cases where an insurance company was sued. I asked the realtor to show me the mold, he went outside and showed me a spec that was 1/16th of an inch in diameter. Quickly insurance companies re-wrote their policies exempting HO policies from damages.

 

[Meandering]

Not all molds are that smelly especially when it has been dry for sometime (in the case of a wall leak) but often the musty smell in a basement is good cause to call for an inspection. Not all molds are harmful or toxic...think penicillin.

That is true,
but are appraisers better than drones, just taking photos?

uninvited organic organisms, regardless to nomenclature, require some type of remediation.

If the organism is found to be fungus, and not black mold, it still needs to be removed and indicates a problem.
If the organism is found to be blue mold and not black mold, it still needs to be removed and indicates a problem.
If the organism is found to be mushrooms, mildew, bacteria, vomit, and not black mold, it still needs to be removed and indicates a problem, which at a minimum could just be one of lack of regular cleaning, which is a AS-IS condition consideration.

If you see vomit on the floor, you don't know if the person who puked it there was HIV positive, Hep C positive TB positive, Ebola positive. Could still be as/or more so, dangerous than black mold and a bigger health hazard. Are you expected to address the multi-colored slime as an unidentified discoloration and require a MOLD inspection?

The organism appears to be, and smells like a type of mold, a mold inspection is required for specific identification of the species or organism. Further inspections may be necessary to determine if any damage exists beyond that which is easily viewable by the appraiser.


.