Most people think that selling a house is just a simple case of advertising the house and finding the right suitor. The truth is that it involves more than that. For example, you also have to carry out an inspection and present the report to the buyer. And you must tell the buyer everything that you discover during the inspection, no matter how damaging it might be. Some sellers don't like revealing information about asbestos due to the fear that it might reduce the value of their houses.
Consequences Of Concealing Vital Info Regarding Asbestos
You have a lot to lose by concealing information regarding asbestos to a potential buyer. According to the law, sellers are required to reveal house defects to prospective buyers before they strike a deal. If you fail to reveal important issues, the buyer might sue you if the buyer suffers some damage in the future due to your non-disclosure actions. It is well known that asbestos is a major health concern because it causes a type of cancer known as mesothelioma, a fatal lung cancer that takes years to develop.
Asbestos And Mesothelioma
Asbestos is no longer used in the construction of houses nowadays. However, if you house has been around since the mid-1980s or before, there is a high chance that it contains asbestos material. In fact, it is estimated that every one in three houses built before the mid-80s contains asbestos. Asbestos was initially used in construction due to its fire resistant characteristics, but it was later banned when it was discovered that it is a health hazard.
You can't identify asbestos by just looking at it so it is better if you have your house tested by professionals. Note that removal of asbestos can be quite expensive, especially if the material was widely used in the construction of your house. Keep in mind that some asbestos won't be removed, like if it's not at risk for becoming airborne. If removing the asbestos is going to send fibres into the air, the removalists will instead ensure it stays contained.
If you find out that your house contains asbestos, don't hide such information. You may gain a good deal of money by selling the house but the lawsuit that may follow later might drain you of all the profit. On top of that, isn't it just human to consider the health of those who will make that house their home? Consult with conveyancing services if you have questions about how the presence of asbestos may affect your home's sale.