Mold growth threatens property values

Much has been written about the difficulty of overcoming the hurdles associated with mold claims asserting physical injury or damages. Less attention has been paid to the effect such claims have on property values. Mold claims are vigorously litigated because the problem can be difficult and costly to fix. Inspectors have to punch holes in walls and rip up floors to determine the extent of the infestation. It is not unusual to see remediation costs double or triple the fair market value of the property. The mental and physical frustrations associated with management and remediation of a mold infestation compound the problem of plummeting property values.