Selling a Home With Radon
In 2014, approximately 50,000 homes have been sold in the United Sates. Real estate professionals account for the majority of these sales. Because legislation can change quickly, not all real estate professionals are aware of the regulations when it comes to reducing indoor radon levels. Below is a quick list of specifics you need to know if you are selling a home with radon:
- The EPA suggests that there is no 'safe' level of radon.
- Regulations vary by state.
- If your state does not have specific radon regulations, then federal regulations apply.
- All radon reduction specialists need to be certified, otherwise the workmanship and test results may not be recognized by your lender.
- Homes with government backed loans need to pay close attention to the regulations, because financing can be affected if these regulations are not followed exactly.
- If every radon regulation is not followed, not only can your closing fall through but there are also legal implications that could fall upon you, your realtor, and their agency.
If you have any questions, visit www.epa.gov/radon/ or call 1-800-NO-RADON for more information. Keep a look out for next week's blog; Buying a HUD Home with Radon.