Two Steps to Take Before Putting a Property That Contains Asbestos Up for Sale

Discovering that your home contains asbestos can be very upsetting, particularly if you want to sell it. Here are two steps you should take if you should ever find yourself in this situation.

Consider arranging for the removal of the asbestos prior to putting the house on the market

You do not necessarily have to have the asbestos removed from the property prior to putting it on the market. However, if you choose not to remove it, the offers you receive from interested parties will almost certainly be very low (significantly lower than the house's market value).

The reason for this is that the individual who ends up purchasing the property will have to incur the expense of having the asbestos removed.

If you arrange for a local asbestos services company to extract the asbestos from your home before you put it up for sale, you should find that you receive reasonable offers that are much closer or equal to the property's market value.

Under no circumstances should you attempt to extract the asbestos without the assistance of a professional asbestos removal service, as to do so could endanger both your own health and the health of everyone else currently residing in the property. Asbestos is a highly toxic substance which needs to be handled with extreme care and skill.

Be completely honest when discussing this matter with prospective buyers

Depending on where the property is located, you may be legally obliged to disclose the presence of asbestos in the property you intend to sell. This can usually be done by informing your real estate agent, who will then include a statement about this issue in the property's documentation.

In addition to this, it is also a good idea to be as forthcoming about this matter as possible during house viewings. Rather than waiting for prospective buyers to discover this problem after they have read the relevant paperwork. or until after they have paid to have a building inspection done, it is best to be completely open from the beginning.

Speaking to interested parties directly about where the asbestos is located (or where it was located, if you have chosen to have it removed) will demonstrate that you have nothing to hide and are not trying to minimise or conceal the extent of the problem; this level of candour will, in turn, will increase the likelihood of them making an offer.