Legal Question in Real Estate Law in Massachusetts

buying a home with possible mold through a bank
We are looking at a home that a bank owns and is being sold ''as is'' it looks as though there may be potential mold in the home along an outside wall that was expose to weather during construction of an attached garage and is still not closed up weather tight. If we have it tested is the Bank responsible to repair the area with the mold? They have an addendum that we are to sign when we get to the P and S which they are only allowing a 48hr review as they are not accepting changes. What kind of options do we have if any or do we run. The Mold is the only major thing I'm concerned with as it is a health issue that will need to be addressed at some point. Thoughts

Asked on 3/21/08, 4:53 pm

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Re: buying a home with possible mold through a bank

Run as fast as you can. If you can't be sure what the mold is or how much it is going to cost, do not get involved.

You need to protect yourself. If you find a major mold problem they are not going to readily reduce the price.

Do not waste your time.

Answered on 3/21/08, 5:12 pm

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