Property Buyers Beware: Mold, PCBs and Other Dangerous Contaminants May Lurk in Foreclosed Properties
The laboratories at EMSL Analytical provide affordable mold, lead, asbestos and other contaminant testing solutions.
As the economy shows signs that the country is over the worst of the recession with a 3.5% third quarter growth in GPD, the number of homes going into foreclosure continues to climb. Even with all the government sponsored efforts to prevent foreclosures the past three months have likely seen the highest number of foreclosures in the country’s history.
According to one recent report by RealtyTrac® one in every 136 homes in the U.S. are now in foreclosure, which is 23% increase over the same period last year. The market is now flooded with these properties and many first time homebuyers and real estate investors are looking to buy these discounted properties.
Real estate foreclosures come in all types of conditions from move-in ready to completely run down, vandalized and neglected properties. Many of these same properties are being sold by the banks ‘as is’ so buyers need to be aware of potential problems with such issues such as mold contamination, lead paint and asbestos.
Properly conducted home inspections should identify many of these issues, but a number of buyers forgo this important step which can lead to costly environmental issues later. EMSL Analytical, one of the nation’s largest environmental testing laboratories, provides affordable testing solutions for prospective buyers and property inspectors.
“Up to 24 million homes in the U.S. contain substantial lead paint hazards according to the CDC and the EPA recently announced new guidance for properties constructed or renovated between 1950 and 1978 because of concerns with PCBs in caulking material,” reported Joe Frasca, Executive Vice President for EMSL Analytical. “Millions more likely have issues with mold and asbestos so it is imperative to have a property inspected and tested to protect the buyer’s interests,” Frasca continued.
About EMSL Analytical, Inc.
EMSL Analytical is a nationally recognized and locally focused provider of indoor air quality, environmental, industrial hygiene, food and materials testing services and products to professionals and the general public. The company has an extensive list of accreditations from leading organizations as well as state and federal regulating bodies.
- Contact Information
- Joe Frasca
- Senior Vice President, Marketing
- EMSL Analytical, Inc.
- Contact via E-mail
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