During Escrow, the inspector revealed possible asbestos fiber in attic, can I ask seller(bank) to fix it?
I’m in the process of purchasing a house. Last week, my house inspector found that there is a broken transite pipe in the attic. He suspected that there might be asbestos filber explosure.
I contacted some asbestos specialists and they took some air samples yesterday. As per discussed with them, should there be any asbestos explosures in the house, the costs of asbestos removal and clean-up will likely be up to $1500.
Nevertheless, the tricky part is, in the seller addendum, the bank states that the house is a bank-owned property and it will be sold “AS IS”. Which means the bank will neither decrease the selling price nor give buyer credit for repairs of any kind.
My quesstion here is:
The asbestos is not a “Repair” issue, it’s more of a “Health Hazard” issue. Will the seller(bank) be responsible for $1500 Asbestos removal expenses?
Or, do I , as a buyer, have to suck it up and pay that expense?
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Filed under: Renting & Real Estate
Nope, “as is” means just that. You are paying for an House that has Asbestos.
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Yes, this could be a health issue but should also fall under repair due to the broken pipe. Ask the asbestos specialist if it can be sealed rather than removed. For example many older homes have asbestos shingles. If they have been painted they are safe. The bottom line is how badly do you want the home? While the property is being sold “as is” this health issue may override that. You really need to talk to an attorney.
realtor.sailor
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You simply tell the seller of the asbestos costs and that you will need “something” from them in order to proceed. Then the ball is in their court. They are NOT responsible for the clean-up. You are merely using this as a bargaining chip. Your Buyers Agent should be helping you in this.