Poll Reveals Concerns Over Mold

Claims News Service, Nov. 9, 12:45 p.m. EST — Sixty percent of builders and real estate lenders have heard of a party backing out of a real estate transaction because of the fear that mold problems exist on the property, according to a new poll conducted by Environmental Assurance Group (EAG).

Seventy-six percent of executives acknowledge that they are concerned about mold liability on properties in which they have invested. In addition, respondents familiar with a specific mold-related incident in a real estate transaction said it would have taken an average of more than $300,000 to fix the problem.