Real Estate: building, selling, buying, investing

Ann Brenoff, Los Angeles Times
Sunday, December 7, 2008

(12-07) 04:00 PST Los Angeles — Leonardo DiCaprio, who in a sort of passing of the teen-idol baton sat courtside next to “High School Musical” star Zac Efron at the Los Angeles Lakers game two weeks ago, has listed one of his Malibu properties for sale at $8,999,000. What’s next? Will the mini-me Efron buy the house of the man whose career he says he wants to emulate? Unlikely, but heck, they were even photographed folding their hands the same way.

DiCaprio, who turned 34 last month, has listed a contemporary home that sits on the bluffs above the Pacific. A stairway leads to the private beach cove below. The main house has two bedrooms and two bathrooms in 2,374 square feet. The master bathroom has marble fixtures and a steam shower. A separate guesthouse has two one-bedroom suites. There is a four-car garage and a large grassy area, and - no surprise to DiCaprio followers - the property is private.

DiCaprio, who captured the public’s attention playing Jack Dawson in “Titanic” (1997), also starred in “Romeo & Juliet” (1996), “Catch Me if You Can” (2002), “Gangs of New York” (2002) and “Blood Diamond” (2006). He stars in “Body of Lies” (2008) and the upcoming holiday release of “Revolutionary Road,” which again teams him with Kate Winslet, his “Titanic” co-star. It is already being called an Oscar contender.
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Do you need to sell a house with a mold problem? You want to sell it, but your realtor says it’s impossible! Won’t even take the listing. This may come as a surprise to you, but there are at least 3 ways to sell your moldy house. If your realtor disagrees, you may want to look for a different realtor. What are your three options?

Option #1 - Tell It Like It Is And Sell It Like It Is

The mold in your house doesn’t mean you can’t sell it. It only means you must disclose it. You just have to tell a potential buyer about the problem. You don’t have to fix the mold yourself. Although this option makes finding a buyer more difficult, it can be done. You should at least be aware of this option and how it works before crossing it off your list.

Option #2 - Fix It First

Another option is to fix the problem before you sell. If you choose this option, you need to make sure the job is done right! Otherwise you could end up paying for the repairs twice!

And be sure to get the proof (in writing) that the mold was successfully abated using a recommended procedure. You’ll need the documentation for your buyer, and probably her lender, to show the problem is solved.

Doing it right is not hard. But it is important. If the job is done wrong, you could make things worse. And you need something more than a paid receipt to show the work was done correctly. You need a written report that proves the mold problem is gone!

Option #3 - Let The Buyer Fix It

Another option is to find out how much it will cost to solve your mold problem, and then let the buyer hire the contractor and pay for it after the closing. The buyer does the work after you close and no longer are the owner.

There is no perfect solution; each has its good and bad points. Like most things in life, there is no perfect solution. Making the right decision is very important - after you have all the facts. Different options work for different folks.

For example, with our first option you simply tell the buyer there is (or may be) a mold problem, and then let them fix it. The good thing about this option is that you don’t have to deal with it. The not so good thing about it is that a smart buyer is going to want some pretty good compensation for taking an additional risk when she buys your home. That means money out of your pocket.

By applying these options, you’ll be able to sell your house and be in control of the situation. However it’s very important to follow the right procedures and avoid the common pitfalls which can make the situation even worse.

Jon Dacken is the author of several free reports about mold including “How To Sell Your Moldy House”. Visit http://www.TheToxicMoldSolution.com for your free copy.

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