FUQUAY-VARINA, N.C. — The housing market is still booming.
It's a sellers market with little inventory and a large number of people looking to purchase. In an effort to win a bid on a house, some buyers know they're going to have to do major work, even when it can include hidden problems like mold.
What You Need To Know
- Sellers are not necessarily putting money toward repairs in this market
- A home inspection is not legally needed in North Carolina before purchasing a home
- Mold removal companies are getting calls from people who didn't do an inspection and have mold issues after purchasing a house
Jacob Swanger and his girlfriend recently purchased a fixer-upper in Fuquay-Varina. It was the seventh bid they’ve put on a house.
“Always over-asking, always high due diligence and to keep getting beat out by these houses, we fell in love with was tough, but we got really lucky with this one. We got it for around asking,” Swanger said.
Unfortunately, the inspection report showed plenty of repairs were needed, including the removal of lots of mold in the crawlspace.
“Insulation needed to be pulled out, there was no vapor barrier and the water heater was having some trouble, so that’s when I got under there and saw all of that for myself,” Swanger said.
He brought in an expert from AdvantaClean to help clean the mold out, who says many new homebuyers aren’t even taking the time to do an inspection in hopes of winning a bidding war.
In North Carolina, an inspection is not mandatory.
“The people who are calling us, they are not the people calling us like they used to at the time of purchase," said AdvantaClean Owner Artem Lopatchenko. "They are calling us six, nine months down the road because it is only then they have the money to come back to some of the other repairs.”
The renovations are on-going and while the work is a challenge, Swanger knows it's just par for the course if you want a house in the Triangle right now.
“We see ourselves in every aspect of the house, and that’s what sold us on it," Swanger said. "The inspection came back, and it was worrying, but that wasn’t a deal breaker for us thankfully.”
For more tips on how to deal or prevent mold, click here.