Radon is a harmful substance that is found in the ground. Sometimes, radon can leach out of the ground and appear in the basement of residential homes. When a homeowner wants to sell, tests will usually be performed during the sale process to determine the home’s radon levels. If they come back showing high levels of radon, it can throw a wrench into the residential real estate transaction process. Deals can still go through, even with a high radon level, but they usually require some adjustment.
Radon Is a Dangerous Gas
Radon is a gas that is created when radioactive elements in the ground decay. Large-scale exposure to radon is carcinogenic. Radon is blamed for approximately 20,000 deaths each year and is a major contributor to high rates of lung cancer among non-smokers. Accordingly, radon testing is a part of the due diligence and inspections that a buyer performs before the home selling transaction is completed.
If the tests discover high levels of radon, it could give a buyer a right to walk away from the deal entirely. Even when levels of radon are not that high, many buyers hear the word radon and are immediately frightened. However, the seller can take steps to mitigate the radon and improve their chances of selling their home.
The Seller May Be Responsible for Mitigating Radon
The most common way to mitigate radon is to install a system that pulls the air from the ground and vents it outdoors. These systems rely on a pipe that discharges the air above the roof of the home and usually lowers the radon to acceptable levels. The seller is ordinarily the one who is responsible for footing the bill for the radon mitigation system, which can cost up to $2000. If the seller and the buyer sign a contract that allows the buyer to walk away if they are unsatisfied after the home inspection, however, they might still exit the deal over radon levels.
Radon can be a hassle to deal with, but it does not automatically have to mean the end of a real estate transaction. If you want to sell your home, consider doing your own tests before you put your home on the market. You may be able to save yourself time and energy by proactively doin what is necessary to mitigate the radon.
Contact a Kane County Real Estate Attorney Today
Both buyers and sellers need representation during the residential real estate sales process. There may be issues that arise that a Geneva real estate attorney can help you handle. To speak with the lawyer at DLAW, PC, you can call our office today at 331-222-7978.