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my parents are set to close on their home in TN on august 29th. they had their inspection this week, and mold was found. the current owner says he will address this issue. my parents concern is: if mold is still existing on the final walk thru, what are their rights, since they cant postpone the closing date?
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Posted: Aug 06, 2008 at 4:00 PM
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Your parents could ask for the mold to be removed professionally and request a copy of the receipt that the work was completed. At least in that case if the mold returns they would have recourse with the company that did the work.
Jul 8, 2009 at 9:49 AM
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Mold problems are a HUGE issue (hazardous issue) and it shouldn't be taken lightly. Your parents need to consult with their agent about getting this issue resolved through an inspection (by a licensed inspector) BEFORE signing their closing documents. It's never too late!
Aug 8, 2008 at 3:51 AM
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Of course they can postpone closing date. Use the inspection response form to demand repairs by a licensed and bonded company specializing in mold removal. Receipt, report and second inspection should be required in the language of the response.
I hope your parents have a qualified buying agent on their side. This is one of 50 reasons why Realtors are more relevent than ever.
Aug 6, 2008 at 5:40 PM
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