The House I Want to Buy Has Asbestos. What Should I Do?

The supply of housing isn’t keeping up with demand. The Brookings Institute estimates the nation was short 4.9 housing units in 2023. Those looking for houses may not be as choosy as they would like to be, including considering older homes with asbestos-containing products inside.

If you’re in that situation, what should you do? You could not buy it, but what other houses are for sale in your area, and how much do they cost? How do you handle purchasing a house containing a potentially hazardous substance with the potential to cause cancer?

Where Might Asbestos-Containing Products Be?

Asbestos can be in many areas of homes built before the 1980s because asbestos was used in thousands of products, many of them in homes. Here are some possibilities:

• Attic: Loose-fill (vermiculite) or spray-on insulation
• Basement: In or on furnaces, boilers, wood stoves, hot water pipes, and ventilation ducts
• Floors: Tiles or the glue (mastic) keeping them attached to the floor
• Ceilings: Textured “popcorn” ceilings, ceiling tiles, textured paints, plasters
• Interior walls: Plaster, wallboards, joint compounds, paints
• Roof: Shingles, felt, and mastics
• Exterior: Siding and stucco

Never waive your right to inspect a house before buying it. As part of the pre-sale inspection, professional testing is the only way to know if something in your home has asbestos. Don’t be too concerned about the issue until you get results showing asbestos.

Asbestos is in the House. What Should I Do About It?

That depends on many factors, including the following:

• Is the product intact or deteriorating and falling apart (releasing fibers into the air)?
• Is it in an area where people are likely to be or tucked away where someone is unlikely to go? The more exposure to an old asbestos product, the more likely it will cause health problems
• Is it in an area where repairs or renovations are planned or likely? Repairs or renovations may require contact or removal of the asbestos product
• How risk-averse are you? Are you uncomfortable with anything in your house that could be a health threat? Are you risk-tolerant and willing to put up with something that might be, but isn’t yet, a problem?

If asbestos is present, it could lower the house’s value unless demand is so high that potential buyers will overlook it.

Here are some approaches to consider with the seller:

• Demand the asbestos products be abated as a condition of the sale. Professional abatement will cost thousands of dollars. It will vary on the volume and complexity of the work. It may cost less if the contractor is more eager for projects. The seller may agree, reduce the price to entirely or partially cover the cost of abatement you’ll arrange for in the future, or refuse to do anything because the house is being sold “as is”
• Ask for a reduction in sales price to reflect the property’s diminished value or the cost of abatement you’ll pay for. The seller may agree, and you’ll negotiate the amount, or they’ll refuse to accept a lower bid
• Not ask for anything. The seller may have been upfront about the house being sold “as is.” You could say that due to the discovery of asbestos, you’ll lower what you’re willing to pay. You may negotiate how much that will be, or the seller may refuse to accept less
• You could not ask for anything and accept the condition for the price you tentatively agreed to pay. There may be a small amount of asbestos. It may be easily removed or sealed up. You’re in great need of housing, have few other options, and are willing to cope with the asbestos in the house

Real estate is a two-way street. Your situation is only part of the equation. The seller’s circumstances are the other. They may be:

• Desperate to move, access the equity in the house, or stop making mortgage payments and be more flexible in negotiations
• In no hurry to sell and feel that if they turn you down, it won’t take much time or effort to find another potential buyer who is less concerned about asbestos

Asbestos is just one potential hazard in older homes, including the following:

• There may be mold or lead paint in the home
• Well or municipal water may be contaminated
• If you’re not connected to municipal sewers, an older, poorly constructed, or designed sewage system may fail

Given the home’s overall condition, asbestos may be one of many things to be concerned about.

Call Us Today for A Free Consultation

We are your boots on the ground if you or someone you love suffers from mesothelioma or another asbestos-related illness in Kentucky. To reach our office in Louisville, call 855-385-9532. You may also complete our contact form for a free initial consultation.