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MOLD DISCLOSURE???????

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KELLY HIGGINS

Freshman Member
Joined
Apr 24, 2002
I HAVE RECENTLY TAKEN A "MOLD CLASS". THE INSTRUCTOR IS A REAL ESTATE BROKER/PROPERTY MANAGER. I WANT TO KNOWN IF ANYONE IS PUTTING ANY KIND OF MOLD DISCLOSURE IN THEIR REPORT, AND IF SO, DOES IT REALLY PROTECT THE APPRAISER?

THE BIGGEST ISSUE THAT CAME UP WAS A INSURANCE DATA BASE CALLED CLUE. THIS INSURANCE DATA BASED CONSISTS OF ANY INSURANCE CLAIM FILED BY ANYONE. WHAT INSURANCE CO. ARE LOOKING FOR BEFORE INSURING A PROPERTY IS IF THERE HAS EVER BEEN A WATER LOSS CLAIM. IF THERE HAS, ITS POSSIBLE THAT THEY WON'T INSURE THE PROPERTY. THE EFFECT OF VALUE WOULD BE SUBSTANCIAL IF THE PROPERTY IS UNINSURABLE.

HAS ANYONE RUN ACROSS THIS, YET?
 

David C. Johnson

Senior Member
Joined
Jan 15, 2002
<span style='color:darkblue'>Kelly,

In a post I just made:

http://appraisersforum.com/forums/viewtopi...p?p=44643#44643

I cited emailed questions to me (now for the forum) from Jack Schoppa, the author on an article on Mold recently run (in part) in REV. My return answer to him may be somewhat pertinent to your question (a little):
_____________________

"Do you have any first hand appraisal experience with
known mold infested properties that could be developed into
credible case studies?"

No. I recently did an appraisal of a small university. Their newly constructed high-rise dorm was partly closed down (several floors) due to extensive mold. The problem was being more fully investigated at the time of my appraisal. I did see and smell the mold. What they had done (contrary to building ordinances) was to keep the building closed (air) tight during the summer when it was unused right after construction. Either plumbing pipes leaked or just the condensation from the pipes caused moisture in the walls. My solution was a very conspicuous disclaimer and specifically citing the issue. I had no complaints from my client who was the board of trustees of the university. I had previously discussed with them what I planned to do regarding the issue. Basically I said/wrote that any potential financial consequences were specifically NOT INCLUDED in my valuation analysis, and I cited the forthcoming evaluation report "commissioned" of which I had obviously not read. I plan to keep up with that particular case partly out of curiosity. Initial thinking by others was that the mold was not toxic, but could be a problem for those with some types of allergies.

"Preferably with verifiable data regarding type of mold, degree
of infestation, degree of remediation and elapsed times from
discovery to remediation to sale. Do you know anyone else
who might?"

No. I have an interest in this issue, but no time. Maybe in the future, but I doubt it.

Thanks again for your efforts, Jack, and for the article.

Regards,

David C. Johnson
___________________

dcj</span>
 
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