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New London, Wisconsin | If you are told it's asbestos, then it probably is and was a required disclosure on the property condition report. I personally do not get too worked up over that, but I can tell you there are lenders that might well deny a loan on that property due to the disclosure. Years ago I had a real estate license and it was a pretty big deal to remediate that in a legal manor. Keep looking into possibilities, just so you don't get a nasty surprise by what we jokingly called the asbestos police.
What I would do is find a price from a contractor to remove and replace it. Then you know the value of that job. Perhaps the house is already discounted by that much, but you can do the math and see.
I have had owners do the remediation themselves and have a lender hire an inspector to verify. What a nightmare that was. Most of those were over lead based paint, but you may face a similar gauntlet of BS with the siding.
PS, ALWAYS use a tarp to catch EVERYTHING from falling in the lawn if you do the job. That's what most of my customers didn't think was important, but was, and cost them dearly later in wasted time effort and misery. My experience was in the 1990's and may well be different now.
Jim | |
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Would you buy a house with asbestos siding?
