Many homeowners that are preparing to put their home on the market are curious about how to handle selling that home if it has asbestos, and what might be required of them when they do sell. There are questions about what an inspection with asbestos can do to the home’s value on the market, with some wondering how they can even tell if they might have to deal with asbestos.
The good news is that having a home with asbestos doesn’t mean you’re stuck with the home forever, nor does it mean that you’re going to have to take a pittance for your home when you do decide to sell it. There are many strategies that a seller can use to incentivize potential buyers to see past the problematic diagnosis. Here is more about what is involved in selling a home with asbestos and who might be able to help you avoid the entire disclosure process.
What Is Asbestos?
Asbestos is the term for a group of minerals that were once considered cutting edge due to the incredible heat-resistance and fireproofing qualities the minerals offered. The minerals have a fibrous consistency and were once thought of as the leading technology to insulate against electric shock and fire. They have also seen extensive use in applications that require sound deadening or absorption.
Asbestos was used in almost every building that was built before the 1970s, including office buildings, schools, hospitals, churches, and more. This means that most people who have been in such an environment have likely already been exposed, but until recently this exposure wasn’t seen as a major problem. New asbestos installation has been largely banned since 1989.
Eventually, the health effects began to be noticed much more consistently and were eventually traced back to exposure to friable asbestos fibers. These fibers break off of the product and can be inhaled, where they become embedded in the pleural tissue of the lungs. Over time these fibers create a significantly increased chance of developing a deadly type of cancer known as mesothelioma.
Can You Sell A Home With Asbestos?
You can sell a home with asbestos just as you can with any other type of home, though there are some notable differences. In many areas of southern California, there are so many homes that were constructed with asbestos products that the chances are good that you’ve already been in at least one or two.
Not all buyers want to assume the burden of having a home with asbestos, however, so it must be declared to potential buyers. Buyers and sellers should both be familiar with the testing options and laws relating to asbestos. Asbestos must be disclosed or declared to potential buyers if the seller knows about it. This can create an opportunity to negotiate on the property or terms of the sale.
In many cases, the seller of a home with asbestos will offer to either abate the problem for a certain sale price or sell the home as-is, for a reduced price. Many homeowners don’t want to deal with the hassle of finding a trustworthy local company to get rid of the asbestos first and end up taking a greatly reduced sale price as a concession with the new buyer.
Partner With A Local Asbestos Expert
If you have a home in southern California that has asbestos, selling it is an option, though not always the best one. If you are interested in selling a home with asbestos or would simply like more information on your potential options and how each one can affect your home’s price and ability to settle. Contact Sensitive Environmental for more information.