Mold problems are injecting an element of chance into real estate deals, according to a recent survey of builders and real estate lenders conducted by the Environmental Assurance Group, based in Hartford, Conn.

When asked whether they believe that mold can affect the value of a real estate transaction, 99 percent of respondents said yes. Of those surveyed, 60 percent reported hearing of parties who had backed out of real estate transactions due to the fear that mold problems might exist. Possible mold liability involving investment properties was a concern among 76 percent of executives. In addition, respondents familiar with specific mold-related incidents said that it would have taken an average of more than $300,000 to fix the problems.

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