Foreclosed Homes

REO Mold Solutions supports an extensive network of Asset Management Companies, Real Estate Professionals, including Agents, Brokerages and Private Investors. Due to the economic status in recent years there has been an explosion of vacant foreclosed properties that become infested with dangerous molds from lack of maintenance. This has sprouted a new wave of Asset Management companies and Agents dealing specifically in REO/ Foreclosed property. That is where REO Mold Solutions comes in.

You see, many homebuyers (and some agents) are very intimated by, Mold and rightfully so, many of these homes have the black stuff growing all the way up the walls, others have the ceilings laying on the ground. This often sends buyers and even investors running. This means opportunity…

Another common problem with these homes is even if someone is interested in rehabbing the property the idea is shot down by inspectors, agents, and general contractors spouting off prices (10k, 20k, even 50k) with no true gauge on accurate costs because they’ve never been through a project like this before.

At REO Mold Solutions, we understand the needs and time constraints of all the players involved (Asset Manager, Agent, Buyer, Bank, Consulting firm). By designing our service around these needs we can offer a valuable service that increases the proficiency of everyone involved by helping:

Causes of Mold Damage:

When a bank forecloses on a home it often has no idea of the condition it may be in. Often the electricity is shut off resulting in no power to a sump pump in a home with a basement. This causes water to backup through the drain tiles & sump basin(often rapidly during rainstorms and spring thaws) the result is a basement (often finished) with  many gallons of water in it. As this moisture combines with mold naturally in the air it starts to grow first on the most porous of materials (carpeting, drywall, stored items) then moves to the framing colonizing the wood on interior walls  and especially the overhead joists and underside of subflooring.

You see, the longer the water remains stagnant in the this basement it begins to create a greenhouse effect. During this phase as outside temperatures and seasons shift this pool of water in the basement wants to evaporate as it is drawn to the sun, thus moisture begins to be drawn up through the air and porous drywall creating growth on the first then onto the second floor.

Another major cause of a foreclosed property becoming a “REO MOLD HOUSE” is a home not properly winterized, often during the foreclosure process, with changing seasons the water is still on but the heating systems are not causing the water in the plumbing to freeze and burst the pipes.

This  causes severe damage quickly, as these “freeze pops” occur throughout the house predominately in the kitchen and bathrooms(the most expensive areas to repair). Eventually gravity draws water through the entire house pooling in the basement or first floor. Then becoming stagnant  and beginning the greenhouse effect that draws the water  back up through the walls further damaging the home.

We’ll be happy to provide a free professional consultation for any unique scenario. Just give us a call or fill out the “Request a Quote” section at the top of the page.