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The environmental factors that impact a real estate transaction

| Dec 14, 2017 | Firm News

There are many factors that can impact a California real estate transaction, and not all of them pertain to legal complexities or financial matters. Often, environment factors can impact both residential and commercial property transactions. Whether you are buying or selling, you would be wise to learn how you can protect your interests when facing these matters.

In most cases, it is possible to deal with the environmental factors that could lead to health problems or safety concerns, but it is important to spot these issues as soon as possible. Either the buyer or the seller would be wise to identify these issues promptly in order to avoid assuming unintended liabilities.

What are the most common issues?

There are various types of environmental factors that could cause certain issues for you either as a buyer or a seller. Some of the most common of these factors include the following:

  • Mold contamination: Mold is often a problem in buildings that are poorly constructed or do not have adequate ventilation. Mold can cause health problems, such as respiratory issues, as well as damage to the actual structure of the building.
  • Land contamination: This type of contamination happens when pollution, litter or other factors actually contaminate the land itself or the water that runs into and off of the property. This can cause health problems and significant legal complications.
  • Asbestos exposure: This type of toxic material is often in older buildings, but it can also be present in building materials, such as flooring and shingles. The cost of dealing with asbestos issues could be significant.

Sellers have the obligation to disclose any potentially dangerous environmental factor of which they are aware. Additionally, buyers have the right to know about issues and address any concerns before they purchase the property.

The impact of environmental issues

It can be quite costly to deal with environmental issues, and they can also be dangerous for the health of anyone who visits, lives on or works on the property. If you are selling a property and believe you have certain issues you should disclose, or if you are a buyer, you have no time to lose in taking the appropriate action to protect your interests.

With help, it is possible to deal with complications, address concerns and shield yourself from any unnecessary financial losses or unforeseen legal complexities. A real estate transaction of any kind is a major step, and you need an ally who can help you meet your objectives.