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Q: “I represent a seller who just finished having their basement treated for mold. According to the seller, they re-treat the basement for new mold growth every year in the fall. Do I have to disclose this?”
A: Yes, this should be disclosed. Listing agents have a duty to disclose presently existing material adverse facts regarding the physical condition of the property of which they have actual knowledge. Ordinarily, once a problem has been remediated, the material adverse fact is no longer present, so there is no need to disclose. In this scenario, however, though the basement has just been treated, not remediated. The problem reoccurs annually and needs to be retreated. The agent has actual knowledge of this ongoing mold problem so a disclosure, in this case, is required.
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