Key takeout
You can legally sell your home with asbestos, but you must follow the disclosure law. Removing asbestos is not necessarily necessary, but it can be useful for sale. It is possible to sell the product as is, especially to investors and buyers who are willing to participate in the project. Asbestos and local market conditions can affect prices and buyer interests. It goes a long way in making the integrity and preparation process smoother.
You have decided it’s time to sell your home – but there is one concern that will interfere with you: asbestos. If your home was built decades ago, it’s natural to wonder about the risk, whether removal is necessary, and how it will affect your sales. You might ask yourself, “Can I sell my house with asbestos?”
The good news is, yes, you can sell a house with asbestos. However, most states have asbestos disclosure requirements to protect buyers.
Whether you’re selling fixer uppers in Williamsburg, Virginia, or selling a longtime family home in Albuquerque, New Mexico, understanding how asbestos affects your sales can help you make wise decisions.
What is asbestos and why is it important?
Asbestos is a naturally occurring mineral that was widely used in home construction, especially before the 1980s. Heat and resistance to fire were highly praised. Unfortunately, asbestos fibers can be in the air and can pose health risks if they are interrupted. Long-term exposure is associated with serious conditions, including mesothelioma and lung disease.
Because of these risks, many buyers are cautious when asbestos is in their home, even if it is not currently dangerous.
>>Read: A guide to asbestos at home
How to identify asbestos in your home
Visually identifying asbestos is difficult as it is often mixed with other materials. However, there are some signs that can cause doubt.
Age of House: If your home was built before 1980, it is more likely to contain asbestos. Material Type: Common areas that may contain asbestos include popcorn ceilings, vinyl floor tiles, attic insulation, cement siding, HVAC duct insulation, and old roofing materials. Unlabeled insulation or ceiling texture: Materials not labeled with materials that appear fibrous or flakes should be treated with care.
The only way to check for asbestos is to check a professional test. A certified asbestos inspector can safely collect samples and send them to the lab for analysis. Avoid interfering with suspicious ingredients yourself. This can cause harmful fibers to be released into the air.
Can I legally sell my house with asbestos?
Yes, it’s legal to sell a home that contains asbestos, but the rules vary depending on your state. Most states require that sellers disclose the presence of asbestos if they are aware of it. You do not need to test your asbestos before selling, but you may be obligated to notify the buyer if it has been confirmed through a home inspection or a previous renovation.
Working with a real estate agent who is well versed in your state’s disclosure laws will help you ensure that everything is handled correctly.
How to sell a house with asbestos
When selling a home with asbestos, you have several paths to consider. Each option comes with its own costs, challenges and benefits. This is a breakdown of what you need to know to make the best choice for your situation.
Disclose and negotiate asbestos
Most states require sellers to disclose asbestos, but they are not legally obligated to amend it. Expect buyers to request a price cut or leave, leading to negotiations. Getting a containment or sealing estimate will help support the customer’s asking price during these talks.
Sell AS-IS with cash
If asbestos removal is extensive and costly, selling your home with cash may be an option. This approach lowers the price of the home due to the need for repairs and appeal to buyers ready for the project. However, if your home is in good condition, fixing asbestos before selling will generally give you a better return.
Deal with asbestos before selling
Disclosure of asbestos makes it difficult to sell your home at the full price. Addressing issues in advance, such as asbestos sealing, enclosing, and removing it can help speed up your sales.
Do I need to remove asbestos before I sell it?
It is not necessarily necessary to remove asbestos before listing your home, and in many cases it may not be practical. There are a few things to consider:
Asbestos Condition: If it is not intrusive and in good condition (such as ceiling tiles or siding), removal may not be urgent. Cost of removal: Asbestos reduction costs thousands of dollars depending on the amount of material. For minor areas, you can pay around $1,500. A large deletion job can easily reach $15,000 to $30,000 or more. Buyer’s Preferences: Some buyers may be suitable for buying a home and handling removal later, while others may use it as a negotiation point.
Tips for selling your home with asbestos
If you are uncertain, get an inspection: If you are suspicious of asbestos, but not sure, it will become clear to hire an expert to test critical areas such as insulation, ceiling tiles, ducts, and more. Be honest with disclosure: Transparency helps build trust and avoid legal issues. Work with experienced agents: Knowledgeable agents effectively sell your home and guide you through conversations with potential buyers. Set realistic expectations: Be prepared for price negotiations or longer timelines, especially if the buyer seeks repairs or credits.
Does asbestos reduce the value of my home?
In some cases, yes. The presence of asbestos may reduce the value of your home, especially if the buyer needs to cover the cost of removal. However, if your asbestos is in good condition, contained and the rest of your home is very shaped, the impact may be minimal. A home with strong curb appeal, desirable locations and updated features can command a solid offer even if asbestos is present.
FAQ: Selling a house with asbestos
Should I tell the buyers about my home’s asbestos?
Yes, if you know that your home contains asbestos, most states will need to disclose it during sale. Certainly check the state’s real estate disclosure laws.
Can I detect asbestos at home inspection?
Not always. General home inspectors are not permitted to test for asbestos. However, they may point out areas that appear suspicious and recommend experts for confirmation.
How much does it cost to remove asbestos?
Costs range from $1,500 if small and included areas, and over $30,000 for full house mitigation. Price depends on the location, quantity and accessibility of the material.
Can I safely leave asbestos in place?
Yes, if the asbestos is unharmed and uninterrupted, it may be safe to leave it in place. This is known as encapsulation. This includes sealing the asbestos to prevent the fibers from being released into the air.
