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I’m looking to buy a condo located in downtown Orlando’s historic region. The homes in that specific location are way out of my price range, I can only afford a condo and there aren’t many opportunities within my price range.
This particular condo meets the character, price and location that I’m looking for. Except for one thing. During the viewing, the Realtor and I noticed 2 separate green mold patches (about 3-4ft) coming through the paint in one of the bedrooms facing the exterior of the building. The HOA knows about the mold problem and said they will fix the exterior problems (which upon visual inspection shows no damage at all). The interior damage would be left to me to take care of. They said the mold came from the maintenence man who was using a pressure washer to clean the exterior of the building which then forced water into the walls. The A/C unit is located next to the building is hidden by landscaping. The pipes that lead to the condo have no seal around them, so this may be where the water seeped into the walls. The unit itself is in otherwise pristine condition, and in no other areas of the unit is mold growing. No one is living in the unit (bank owned), and the air conditioning is not left running and all of the blinds windows are closed.
Any suggestions or personal experience in this situation? Keep in mind what I mentioned above. If I were to put an offer on the condo, should I subtract the cost of the repair from the asking price? My Realtor will also add a Mold clause to our offer so we can back out and not be penalized if the inspection shows serious damage.
HALP!! :]