Whether you are buying or selling an asbestos contaminated property, it’s important to think about an evaluation and the cost associated with the asbestos removal. At Excel Asbestos Removal we believe it’s important to help clients gain a better understanding of asbestos and provide honest and practical advice dependent on an individual’s situation.
Here are some things to consider when buying a property with asbestos, or when trying to sell a property containing asbestos.
Buying properties with asbestos
Asbestos is becoming an increasing concern for those in the housing market looking to buy. Buyers are not wanting to purchase a house filled with asbestos, a sentiment heightened further if they have young children.
There are two types of asbestos, friable and non-friable. The one to worry greater about is friable (loosely bound), meaning the asbestos-containing material can be very dangerous as it can contain up to 100% asbestos. To understand more about the difference in the types of asbestos, check out our previous blog on avoiding asbestos in home renovations.
Let’s say you are looking to purchase a house. Perhaps an old Queenslander? You have a house inspection and the Inspector points out the presence of asbestos (they are legally required to do so), what do you do now? The answer is, get an asbestos evaluation. This will allow you to better understand the extent of your problem and to receive a free quote as to the asbestos removal costs. In most cases when buying older houses, people need/want the asbestos removed as over the years they will want to renovate and want peace of mind when they do so.
If the asbestos is friable, you should make sure the seller removes it before you purchase, or ensure they give you a decent reduction in the purchase price to cover your quoted asbestos removal amount.
Selling properties with asbestos
Asbestos in a property has an impact on its value. This is because demand is dictated by the buyer, if a buyer is put off by a property containing asbestos, then the perceived value of the property can decrease significantly.
So you think your property may have asbestos, or you know it does because you bought it knowing there was asbestos?
Either way, before selling you should get an updated asbestos evaluation. The evaluation may surprise you, asbestos removal costs can range dramatically. You may be pleasantly surprised by how inexpensive removal can be, otherwise it’s important to know.
Here’s why it is best to understand what types of asbestos your property may have, where it is and how much for its safe removal…
- Before putting your property on the market, you should understand exactly how much the asbestos removal would cost a potential buyer. Armed with this knowledge, you can put your property on the market at the right price affording you some flexibility. This will place you in a financial position to be able to lower the asking price to a ‘discounted’ price to appease a potentially disgruntled buyer.
- Depending on your situation it may be in your best interest to either immediately remove the asbestos. If you have friable asbestos, especially if it’s in a place that could be easily disturbed, you should remove it. You wouldn’t want to buy a house with a dangerous material that is easily released into the air, neither will others. Or they might, but will want you to remove it anyway as a condition of purchase (yes this happens.
If you live anywhere between the Sunshine Coast, Brisbane and down to the Gold Coast, Excel Asbestos Removals are the company for you. We are experts with an A Class License in Asbestos removal, we are legally qualified to safely remove and dispose of all types of asbestos, from any location.
We have all our own vehicles and equipment – everything required to get your asbestos job done right the first time. Call us today if you have any questions and to receive a free quote!