What you can learn from this case study . . .
Most of us don’t know much about mold. At the same time, it is a hot topic that has been widely covered in the media. Protect yourself from mold by educating yourself about it. This education should serve two purposes. First, it should prevent you from buying a mold-infested property. Second, it should help you understand how serious mold can be if you already own a property where it has appeared.
How Serious a Problem is Mold?
Mold, which is really a fungus, has been around virtually forever. Why has it suddenly shot up high on people’s radar as a problem in buildings? Mold existed in buildings a few decades ago and nobody seemed to care about it. Why has it become such a hot topic now?
One reason that mold has made the news is the fact that it has now been proven to cause serious health problems. Asthma, skin problems, and even heart attacks have all been blamed on mold. For this reason, mold exerts a growing strain on the real estate and construction industries. Why is the construction industry affected? Because there is evidence that buildings need good ventilation to be mold-resistant. Many modern windowless buildings that rely on ventilation systems seem to breed mold more quickly than older buildings.
The bottom line is you really don’t want mold in your building, not if you live there, and not if you have tenants. According to the New York Times, about 10,000 mold-related lawsuits are now filed in America each year. And according to the Insurance Information Institute, insurance companies pay $2.5 billion in mold-related claims per year, most of them in Florida, Texas, and California.
Here are some effective ways to reduce the chances that mold has found its way into a property that you are considering:
• Avoid buildings in low-lying, flood-prone areas or buildings with prior moisture-related problems such as basement flooding, leaking roofs, or burst pipes. If water has gotten in, mold could be breeding.
• Ask your building inspector how he or she will test for mold. A thorough inspection should include an assessment of the building for both visible and hidden signs of water damage and mold growth. If walls are discolored, an inspector can inspect their hidden interior surfaces by inserting a fiber-optic viewer through a small hole that has been drilled in them. The inspector should also collect air samples in all rooms (basement, crawl spaces, attic, garage) and send them to a lab for testing.
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