I‘ve been working with buyers who, for six months, have been patiently waiting for bank approval on a short sale contract. Finally last week, the approval came! The Seller’s lender gave a written OK for the transaction to go forward at “x” price and terms. Needless to say the buyers were both relieved and excited, as this was their dream home. We immediately proceeded to order the appraisal and home inspection. And what happened next was like a kick in the stomach…….Chinese Drywall :(
The presence of Chinese Drywall in a home is perhaps the most devastating news for a homeowner or buyer to hear. A roof can be replaced, bad plumbing can be fixed, and even a faulty foundation can be strengthened. But in many cases the presence of Chinese Drywall requires a complete gutting of the property down to the exterior walls and roof. Now granted I’m no expert, but I’ve just received a crash course; read on my friends...
Upon discovery of this bad news, I immediately set up an appointment for the buyer to see another property that I was almost ready to bring to market just a block away from the first one. Upon entering the home, and having learned about the Chinese Drywall just 20 minutes before, we proceeded to look in the air conditioning closet and could not believe what we were looking at…………evidence of Chinese Drywall!!!
Here are some tell-tale signs to look out for:
• Corrosion of a/c coils (black in color)
• Corrosion of electrical wiring
• Failing electronic equipment (computers, TV’s, washing machines, etc.)
• Rusting doorknobs and hinges
• Corrosion of plumbing
To learn more about Chinese Drywall, possible health issues, and remediation you can visit www.chinesedrywall.com
No comments:
Post a Comment