Should You Request A Radon Contingency?
Sellers are finding it difficult to find suitable buyers for their homes and this is leaving them vulnerable to demands which, in the past, would have been ignored. When you have several buyers bidding for a home, the buyer isn’t in a position to make demands and the seller is under no pressure to make any changes.
At present, it’s a buyers market so they have a lot of control over the buying process. Contingencies are always an interesting area of a sales contract, and one of the most interesting is the Radon contingency.
Radon is a radioactive gas that can collect in homes. There are tests that can be carried out to determine the level of this gas in a home, and if it exceeds minimum levels, the home can be fitted with extraction devices. If you are buying a home in Maryland, you can request a Radon Contingency as part of the sales contract. The test costs less than $200 and takes around two weeks to complete. If the home is found to exceed 4.0 pCi/L (a target set by Congress), then the buyer can ask the seller to install extraction devices. These can be installed for less than $1,000.
Buyers are now in the box seat and can request these contingencies. The seller has to accept the contract with these types of contingencies or lose the sale – with a shortage of buyers, no seller wants to risk that. As a buyer, there are contingencies available like Radon testing that could make your home a little safer. You have the upper hand so discuss with your real estate agent the types of contingencies that may be of benefit to you and your family.
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