Texas Realtors on Mold

[Guest guest]

http://www.dallasrealtor.com/education/mold1.htm

TAR OUTLINES POSITION ON MOLD

Insurance coverage for mold has generated vigorous debate and caused several

companies to stop writing new homeowner policies in Texas. TAR's position on

this complex and evolving issue can be summarized in three parts:

Education. Buyers and sellers need information about the causes and effects

of mold in homes. And this information should come from reputable sources

like the Texas Department of Insurance's Mold Resource Page , the mold

article from the July issue of Texas REALTOR®, the Checklist for

mold-liability concerns from the November issue of Texas REALTOR® and a TAR

article " Questions and Answers on Mold " . News article: EPA Offers New Test

For Mold.

REALTORS® should not hold themselves out as experts on mold. Instead,

REALTORS® may direct clients to the appropriate resources.

Disclosure. If mold is present in a home to such an extent that it causes

health or safety concerns, the property owner and his REALTOR® should

disclose such information. The TAR Seller's Disclosure Notice asks if the

seller is aware of any condition on the property that materially affects the

health and safety of an individual, and also asks if the seller is aware of

any repairs or treatment-other than routine maintenance-made to the property

to eliminate an environmental hazard, such as asbestos, radon, lead-based

paint, urea-formaldehyde, or mold.

Insurability. TAR supports the Texas Department of Insurance commissioner's

efforts to reach a solution that will provide consumers with adequate

insurance for water damage and related coverage, such as mold, and at the

same time, ensure a competitive insurance industry. REALTORS® may want to

suggest that prospective buyers discuss insurance availability, coverage,

and costs with an insurance agent much earlier in a transaction than what

may have been customary in the past.

MOLD CHECKLIST NOW AVAILABLE

Mold has captured the attention of homebuyers and sellers, with insurance

and health issues creating concern and confusion. Texas REALTORS® can now

give their clients a handout with more information. Mold: A Checklist for

Buyers and Sellers gives basic information on how to address the issue of

mold when buying or selling a home. It also lists Web sources for additional

information. You can download and personalize this handout by visiting the

Marketing Materials page in the My TAR section of TexasRealtors.com. (You

must have a TexasRealtors.com password.) The mold checklist is one of 13

marketing handouts currently available.

REAL ESTATE CENTER AT TEXAS A & M

Tierra Grande, the Journal of the Real Estate Center at Texas A & M

University.