Buying or selling a home with asbestos? What you need to know!

asbestos dangerWhether you are buying or selling an asbestos-contaminated property, it’s important to consider an evaluation and the price related to the asbestos removal.

Here are some things to consider when purchasing a property with asbestos, or if trying to sell a property containing asbestos.

 

Purchasing properties with asbestos

Asbestos is becoming an increasing concern for those from the home market seeking to purchase. Buyers don’t want to buy a home filled with asbestos, a sentiment increased further if they have young children.

There are two types of asbestos, friable and non-friable. The one to worry greater about is friable (loosely bound), meaning the asbestos-containing material can be hazardous as it can contain up to 100% asbestos. To understand more about the distinction in the types of asbestos, check out our this post on preventing asbestos at home renovations.

Let’s say you’re looking to buy a home. Maybe an old Queenslander? You’ve got a home inspection and the Inspector points outside that the existence of asbestos (they are lawfully required to do so), what can you do today?

The solution is, get an asbestos test. This will allow you to understand the amount of your problem better and also to be given a free quote as to the asbestos removal expenses. In most instances when purchasing older homes, people need/want the asbestos eliminated as over the years they will want to revive and want peace of mind when they do so.

If the asbestos is friable, you need to be certain that the seller removes it before you buy, or ensure they give you a decent decrease in the cost to pay the quoted asbestos removal amount.

Selling possessions with asbestos

Asbestos in a house affects its value. That is because the buyer orders demand, if a buyer is put off with a house containing asbestos, then the perceived worth of the house can decrease appreciably.

So that you think your home may have asbestos, or you also know it does because you bought it knowing there was asbestos?

Either way, even before selling you ought to find an updated asbestos evaluation. The evaluation might surprise you, and asbestos removal costs can vary dramatically. You could be pleasantly surprised by how cheap removal may be. Otherwise, it’s vital to understand.

Here’s why it is Ideal to know what types of asbestos your property may have, where it is and just how much for its safe removal.

  • Before placing your house on the market, you should know exactly how far the asbestos removal would cost a prospective buyer. Armed with this understanding, you can set your house on the market at the right price affording you some flexibility. This will place you in a financial position to have the ability to reduce the asking price to a ‘discounted’ cost to appease a potentially disgruntled buyer.
  • Depending on your situation it could be in your best interest to either immediately remove the asbestos. If you’ve got friable asbestos, especially if it’s at a location that might be easily disturbed, you need to remove it. You wouldn’t want to purchase a house with a harmful material that’s readily released into the atmosphere, neither will others. Or they might, but may want you to remove it anyway as a condition of purchase (yes this occurs.

If You Reside anywhere in the Adelaide, Asbestos Watch Adelaide will be the firm for you. We are specialists with an A Class License in Asbestos removal, and we’re legally qualified to safely remove and dispose of all types of asbestos, from any location.

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