Power of sale homes doubled last year: why mold inspections are important

Please note: Environmental Services Group Inc. will be available for emergency occupational and indoor air quality investigations over the Easter Holiday weekend. Our fees will reflect after hour and emergency/holiday rates.

Emergency Numbers are
Lawrence Kurtz, ROH 647-282-4773
Tara Valley 416-436-8474

In 2010, the amount of power of sale homes sold in Canada doubled. Power of sale homes are houses that have been essentially repossessed and sold off by the lender after the former owner defaulted on their mortgage, but their “as is” status is what makes it especially important to undergo a mold inspection.

If you ever find yourself in the position of buying a power of sale home, a separate mold inspection is equally as important as obtaining a home inspection – because a home inspection alone may not find hidden mold. After reading your paperwork carefully (power of sale home paperwork is long and complicated, so you may want to hire a real estate lawyer) you may notice various clauses in the contract stating the home is being sold “as is”, which means that if there is a serious mold problem found after you purchase it, there is little recourse.

There are generally no guarantees that the home is safe when buying a power of sale home and the home may have been in disrepair for some time if the initial owner did not pay their mortgage.

The home itself may have been used as a marijuana grow-op or became a haven for mold growth after being left abandoned for quite some time. In any case, power of sale homes can present serious mold risks for home buyers.  Power of sale homes are often very low in price and can be a great way for younger home buyers to own their first home. And, as the saying goes, “better to be safe than sorry.” In this case, a mold inspection could be the difference between being safe, rather than sorry.

Should you suspect the presence of mold in your home or business, contact MoldInspections.ca – The Greater Toronto Area’s (GTA)  mold and grow-op inspection professionals – at (416) 575-6111

Mold Inspections in Toronto the GTA: Mississuaga, Vaughan, Ajax, Barrie, Beaverton, Bowmanville, Bracebridge, Brantford, Burlington, Caledon, Cambridge, Cobourg, Collingwood, Georgetown Guelph, Hamilton, Keswick, Kitchener, Lindsay, London, Markham, Milton, Mississauga, Muskoka, Newmarket, Niagara Falls, North York, Oakville, Orangeville, Oshawa, Owen Sound, Peterborough, Pickering, Port Carling, Port Hope, Richmond Hill, Severn Bridge, Sarnia, Simcoe, Southwest Ontario , St Catharines, Thornhill, Toronto, Vaughan, Waterdown, Waterloo, Whitby and Windsor Ontario

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