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Environmental Issues
A decade ago, environmental issues were rarely a part of the typical real
estate transaction. Today, however, it's common for inspections relating to
environmental concerns to be part of most sales contracts.
In many
states, seller disclosure regulations will reveal knowledge of certain toxic
substances on a property. Typically, though, it's up to the buyer to pursue
environmental inspections and tie any findings to the purchase offer.
Beyond Home Inspectors
Home inspectors who
primarily focus on structural integrity and working systems might not be
qualified to conduct specialized inspections for radon, asbestos and lead paint
- substances that in recent years have emerged as the most common environmental
concerns for home buyers. Testing for these substances typically requires a
specialists who will charge a fee beyond the basic cost of a general home
inspection.
As with any other inspection issue, the estimated expense of
remedying a toxic substance situation may have already been factored into the
home's listing price. Other times, the outcome of an inspection might become a
negotiating point.
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