The issue of mold in homes and building has been the focus of much attention and discussion by the media, buyers and sellers, and real estate professionals. While there is much information available on the topic, there are still many unanswered questions concerning what constitutes acceptable levels of mold in the home, what type of health risks may or may not be involved, the proper steps for remediation, as well as the legal liability to those involved in the transaction.
MIBOR has formed a focus group dedicated to the issue of mold consisting of REALTORS®, inspectors, attorneys, a builder, a representative of the State Department of Health, and staff. In addition, the National Association of REALTORS® has formed a working group which is exploring strategies to assist members with this issue. As new developments take place at the local, state or national level, MIBOR will keep the membership informed.
In 2002, The Indiana Real Estate Commission approved changes to the Sellers Residential Sales Disclosure to include mold in the environmental disclosure section. At the same time, the Indiana Association of REALTORS® revised the Purchase Agreement to address mold in the inspection paragraph.