Radon inspection contingencies can be a lifesaver for potential buyers if listed properties are exposed to life-threatening radon emissions.
Radon inspection contingencies are a critical safeguard in real estate transactions requiring a comprehensive radon assessment before closing the deal. Radon, an odorless and colorless radioactive gas, poses potential health risks when concentrated indoors.
Moreover, home buyers can ensure their safety by obtaining satisfactory radon inspection reports measuring the property's gas levels. If the results show acceptable radon levels, the transaction can continue without worry.
However, if high levels are detected, the radon contingency provides an opportunity for negotiation or withdrawal from the deal. It empowers buyers to address the issue and safeguard their investment.
The radon contingency is a proactive measure to protect buyers from potential health hazards, promoting trust in property transactions. This post will focus on the radon contingency in a property contract, outlining its significance, process, and associated costs. Let’s get started!
A radon inspection contingency is a clause in a real estate contract requiring a satisfactory radon check before proceeding. The radon contingency safeguards prospective buyers from radioactive exposures of radon gas. The provision ensures the property’s safety from toxic emissions and contaminants.
It’s essential to have a basic knowledge of radon, which has no odor or color. It has a natural occurrence in our environment. Formation of radon results from uranium decay in rocks, soil, and water. The gas seeps through gaps and cracks in the structural foundation of houses.
Moreover, radon exposure can lead to severe effects on human health. It multiplies the development of lung cancer in our bodies. People who smoke or have a lung cancer history in the family are prone to developing health conditions from radon exposure.
A radon contingency is vital for several reasons. The most critical reason is the safety that this provision provides to new homeowners and their families. They can rest assured that their new homes are free of radon contamination. Radon emissions pose severe health hazards, and radon examination can detect these emissions.
Moreover, a radon inspection contingency can help you avoid costly repairs down the road. If there’s radon detection during the inspection, you may be able to negotiate with the seller to have the necessary repairs made before finalizing the contract.
Therefore, buyers can ask the sellers to fix radon contamination issues before finalizing the home purchase. You can cancel the deal if the seller refuses to lower the price and fix the problems.
A radon check is a relatively simple process that involves testing the air in your home for radon levels. The test conducted during the inspection can be of a couple of types: long-term and short-term.
Short-term testing can last from two days up to a week. They provide quick estimates of radon emissions in homes. On the contrary, long-term tasting can last up to three months. This gives inspectors sufficient time to check radon emissions more accurately, making the final inspection results more reliable.
During a radon inspection, a trained professional will place a radon detector in your home and allow it to collect air samples. The detector will then be sent to a lab for analysis, and you will receive a report detailing the radon levels in your home.
The radon inspection cost depends on many factors which buyers must know before placing the radon contingency in property contracts. The factors involved include the test type, property size, and location. While the charges of standard short-term testing can range from $150 to $250, long-term testing can cost double the amount. Therefore, a long-term test can cost around $300-$500.
However, it’s crucial to have a broader perspective of the radon inspection cost. Compared to the treatment costs of health issues caused by radon exposure, these inspection costs are pretty meager. Even the repair costs incurred by radon exposure are smaller than those incurred in treating medical conditions caused by radon contamination.
Additionally, many home inspectors offer radon testing as part of their services, so you may save money by bundling your radon inspection with your general home inspection.
While not legally required in all areas, a radon contingency is highly recommended, especially in regions with high radon levels. It provides buyers with peace of mind and the opportunity to address potential radon issues before moving in.
Typically, the radon examination cost is the buyer's responsibility. However, this is negotiable during the offer and acceptance phase of the real estate transaction.
If there are high radon detections during the inspection, the buyer can request the seller to mitigate the radon issue before the completion of the sale. Radon mitigation involves installing a system to vent the gas safely out of the home.
Alternatively, the buyer may negotiate a price reduction or ask the seller to provide a credit to cover the cost of mitigation.
Radon-related regulations vary by location, so checking local laws and guidelines is essential. Some states or municipalities may have specific requirements for radon testing and mitigation, which could influence the inclusion and terms of the radon contingency in the real estate contract.
Sellers have the right to accept, reject, or counteroffer any radon checking contingency. If a seller refuses, the buyer must decide whether to purchase without the contingency or leave the deal.
While there are DIY radon testing kits available. However, the recommended option is to hire a qualified radon testing professional. They have the expertise to ensure accurate and reliable results, using proper testing equipment and following industry standards.
There is no specific time for conducting a radon test. However, the general recommendation is to perform the test during the home inspection phase before finalizing the purchase. This allows you to address potential radon issues before committing to the property.
Radon levels can vary from one property to another, and no specific property type is more prone to high radon levels.
Radon levels can fluctuate based on various factors, such as weather, ventilation, and changes in the property. A good recommendation is to retest periodically, especially if the property undergoes significant renovations or structural changes.
Some government agencies and local authorities may offer programs or incentives to encourage radon testing and mitigation. Check whether such programs are available in your area.
A radon inspection contingency is an important step that all homebuyers should consider when purchasing a new property. A radon contingency can help identify potential issues and ensure that the home you are purchasing is safe and contaminant-free.
In addition to protecting your health, a radon contingency can also help you avoid costly repairs in the long term. Your agent can also provide a list of qualified professionals for radon inspection. Moreover, these agents can also help you understand the test results.
Furthermore, you can take several other steps to protect yourself from radon exposure. These include sealing cracks or gaps in your foundation, improving home ventilation, and installing a radon mitigation system if necessary.
We strongly recommend including a radon contingency in your contract because nothing matters more than your life and the life of your loved ones! Best wishes!
Subscribe to our monthly newsletter for up-to-date real estate industry trends, news, and insights.
Saved
