I think the mold issue is probably doing as much as anything to kill the sell of Ed McMahon’s very expensive, probably over-priced Beverly Hills pre-foreclosure disaster house.
As we remember the McMahons won a lawsuit against their insurance company a few years ago claiming faulty clean-up after a leak. They said mold came about as a result and it killed their little dog, Muffin, and sickened them.
I don’t think so.
They could have quietly settled with the insurance company which is what I would have done. They reportedly got 7.3 million you might point out.
Yeah, but where is all that money now?
And why did such dangerous mold develop in the first place?
Good property management means staying on top of any issue that could become a major problem. Remember our motto- big doors swing on small hinges.
I would have personally inspected that house for months to make sure everything was in order. Sometimes you have to double check behind “the experts” to guarantee the job was done correctly. Did the McMahons do that?
Anytime you have a leak inspect everything thoroughly. Keep en eye on it for future outbreaks. Don’t let a small problem fester.
Here’s something else very important here.
Only a few molds are really dangerous. Most are harmless. I’m not saying Ed McMahon’s mold was not dangerous. I don’t really know. I’d have to look at the mold and study it myself. What I’m saying is most molds just aren’t.
But there has been so much hype most of your tenants and future buyers will think any mold is dangerous. Bear that in mind, because it’s worth repeating.
“When your family loses its health and your home is a wasteland, that’s a colossal disaster,” McMahon said at the time. (Quoted by the Los Angeles Times)
Smart, very smart. Who wants to live in a disaster area and gamble with their family’s heath? I sure wouldn’t.
Can the house sell at all?
It will after all the smoke clears and the price comes way down.
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