Mold Impacts Real Estate Kentucky Insurance
RealEstate, Insurance, Kentucky Insurance
Research shows that mold problems continue to add a new element of risk to real estate transactions.
Ninety-nine percent of builders and real estate lenders polled for a recent survey said mold can influence the value of a property deal, while 60 percent said they were aware of cases in which prospective buyers backed out of real estate transactions because they feared potential mold problems. Seventy-six percent of respondents cited possible mold liability involving investment properties as a concern.
Presently, most property-casualty, business risk insurance, and directors and officers policies do not cover mold. When it comes to supporting mold prevention protocols, 59 percent of respondents said a preferred mortgage rate would be the biggest factor in approving a protocol; while 49 percent said having mold included in their insurance coverage would be the biggest factor...........from Realtor.org
Research shows that mold problems continue to add a new element of risk to real estate transactions.
Ninety-nine percent of builders and real estate lenders polled for a recent survey said mold can influence the value of a property deal, while 60 percent said they were aware of cases in which prospective buyers backed out of real estate transactions because they feared potential mold problems. Seventy-six percent of respondents cited possible mold liability involving investment properties as a concern.
Presently, most property-casualty, business risk insurance, and directors and officers policies do not cover mold. When it comes to supporting mold prevention protocols, 59 percent of respondents said a preferred mortgage rate would be the biggest factor in approving a protocol; while 49 percent said having mold included in their insurance coverage would be the biggest factor...........from Realtor.org
posted by Mark at 3:41 AM
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