Environmental
Mold in a property is a potential health hazard because:
AIt increases heating costs
BMold spores can cause respiratory problems and allergic reactions✓ Correct
CIt damages only structural steel
DIt only affects properties without HVAC systems
Explanation
Mold exposure can cause respiratory issues, allergic reactions, and more serious health problems. Sellers and agents should disclose known mold issues as a material defect.
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Key Terms to Know
Comparable Sales (Comps)
Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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