"You Know It’s a Tear-Down When . . "

Metastasized Mold

Jeff Foxworthy, the comedian, has a well-worn bit called “You know you’re a redneck when . . .”

I suppose the real estate equivalent would be, “you know it’s a tear-down when . . .”

In that spirit:

You know it’s a tear-down when . . . the mold in the home has advanced so far that the nails in the home’s framing are either missing or completely rusted out.

In fact, that describes the home I just took clients through this morning.

Once that has happened, even “gutting to the studs” is problematic — because the integrity of the studs is in doubt.

P.S.: whether the home is an “economic” tear-down vs. a “functional” tear-down are two separate questions.

An economic tear-down is typically an undersized home on a big lot, in an expensive location. There may be absolutely nothing wrong with the home itself. Rather, the location simply supports a much more expensive home.

A functional tear-down is when the home’s condition is so far gone that rehabbing is no longer an option.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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