01.02.2002 :: Real Estate News
Toxic Mold Disclosure
by Graham Morland

Effective January 1, 2002 sellers must make a disclosure regarding mold. In order to provide added protection for sellers and REALTORS, the Buyer's Inspection Advisory (Form BIA-11) has been updated to advise buyers specifically to inspect the property for, among other things, mold. For inclusion of the mold language, REALTORS should be sure to use a purchase contract printed in August 2001 or later.

The Environmental Hazards Booklet is being revised to include a new chapter on mold. While waiting for the new Environmental Hazards Booklets to be released, Information for prospective buyers and sellers regarding mold types and toxic mold conditions can be obtained from their realtor or the author of this article by emailing graham@santacruzrealty.net REALTORS can obtain the new chapter on mold by downloading it from http://members.car.org/legal/realegal/mold.com. REALTORS can insert this new chapter into existing Environmental Hazards Booklets and provide them to clients in current transactions in order to obtain maximum legal protection.

Beginning January 1, 2002, agents should use the updated Transfer Disclosure Statement (TDS-11), which will specifically include the word "mold". Sellers complying with the TDS requirement must disclose, in Section IIC1 of the form, whether they are "aware of any...substances, materials or products which may be an environmental hazard such as, but not limited to, asbestos, formaldehyde, radon gas, lead-based paint, "mold", fuel or chemical storage tanks..."

This article is presented for informational purposes to buyers and sellers and the general public. Beginning in January, some licensed Home Inspectors will be capable of conducting mold inspections and assessments. Contact your realtor, or email the author of this article for a list of inspectors in the local Santa Cruz area.

Graham Morland is the producer of SantaCruz-RealEstate.com. He moved to the field of professional real estate after a very successful career as an executive in high technology computing. Currently the broker/owner of Sterling Properties, Graham can be reached by email at Graham@SantaCruz-RealEstate.com or by phone at 831.688.2310.