Asbestos removal costs may vary, and the true price depends on the extent of work needed to be done. Contractors usually set a minimum fee that ranges from $1,500 to $3,000, before the job even begins. Complete removal in a 2,600-square-foot home with asbestos everywhere—walls, floors, ceilings, attic, roof, pipes—could cost as high as $40,000 to $60,000.
Your home is made up of many parts and systems. When something goes wrong, it can be expensive to fix the problem. One of the scariest things to hear from your contractor is that your home has asbestos. You usually only find out that your home has asbestos when you’re in the middle of a renovation or repairing another issue in your home because asbestos was used as part of the building process.
Removing asbestos from a home is a detailed process. It includes tenting the infected area and wearing special clothing. You must keep the work area wet to keep dust particles at bay. It can be a costly enterprise. While you’ve heard the term, you’re probably wondering what exactly asbestos is.
What Is Asbestos?
Asbestos is a naturally occurring mineral. It’s made up of flexible fibers that are capable of resisting fire, electricity, and corrosion, which made it really popular in construction in the mid 20th century. The Asbestos Hazard Emergency Response Act of 1986 determined there were six types of asbestos and separated them into two categories.
Those are amphibole and serpentine. The category is determined by the shape of the fiber. Amphibole asbestos fibers have a straight, jagged shape, while the serpentine fibers have a spiral shape. The six types of asbestos are:
However, over time, people began to realize that asbestos presented a danger to human health, and it was linked to instances of cancer. While its use isn’t banned in the United States, it presents a clear health danger to people over an extended period of time and it’s tightly regulated by government agencies. Mesothelioma is the cancer most commonly associated with asbestos, and its cause is always primarily exposure to asbestos.
How Asbestos Affects Home Values and the Cost of Removing It
If you own an older home, it’s a good bet that there’s asbestos somewhere in your home although it might not be dangerous yet. Asbestos is only dangerous in its flaky, dust particle form. You can test your home for asbestos. Once you know that you have asbestos in your home, most states require you to either fix and remove the asbestos or declare its existence to any prospective buyer.
Many people might not know exactly what asbestos is but they know it isn’t good. It’s entirely possible that buyers will knock your property off their list without even seeing it first after hearing that it has asbestos.
As you can imagine it takes specialists to remove asbestos from a home. The cost of removing it depends on how much you have in your home and where it’s located. You can expect to spend between $20 to $65 per square foot. To remove asbestos from siding, ceilings, attic, roof, tile, installation, and pipes for the house, you can reasonably budget between $15,000 and $48,000.
You may feel stuck. You can sell your home for a lot less than you thought it was worth if you can find a buyer or spend a lot of money riding your home of the asbestos. However, there’s another choice. You can opt to sell your home for quick cash to a company such as House Buyers Cash.
Benefits of Selling Your Home for Quick Cash
You might not have the money to hire someone to eliminate the asbestos in your home, and you don’t want to live there. Also, you don’t want to take a huge loss by selling your home to an individual who is going to low ball because of the asbestos. A company that buys home quickly for cash is ready to take over your asbestos issues. Here are a few benefits of a quick cash sale.
Avoid Repairs and Deduct the Costs From Price
With a quick cash sale, the company knows that they’re buying your home as-is. They don’t expect you to remove the asbestos before the deal closes. In many cases, the company deducts the expected cost of repairs from the price that they offer you. The company will make any necessary repairs, including removing the asbestos after the house closes, and they take possession.
This type of quick sale can save you a lot of time and hassle. You won’t need to get pricing to remove the asbestos or live in the home while it’s being removed. You should also get more money than you would in a traditional sale after revealing the asbestos.
Receive a Cash Offer in Around 24 Hours
You can expect someone from the quick cash sale company to come to your home and inspect it. This will probably be a more detailed walkthrough than a traditional prospective buyer. After they leave, you won’t need to spend days wondering if you’re going to get an offer. You can expect a cash offer within 24 hours of the inspection and visit.
Avoid Prepping and Getting Your Home Ready to Go on the Market
When you sell your home the traditional way, a real estate agent comes to your home, looks it over, makes suggestions for repairs and prep work, and then waits for you to tackle the prep work and repairs. After you’ve completed these tasks, you have to get your home on the market. Your real estate agent takes photos and puts them online. With a quick cash sale, you accept the offer and choose a closing date.
With a quick cash sale, you can typically close in as few as 10 days and as many as 60 days. You just need to get your paperwork ready and set the date. With a traditional sale, the closing can take two or three months. It might be contingent upon the buyer selling a home they already own or securing financing to buy yours.
When you discover you have asbestos in your home, it can seem overwhelming. You don’t want to spend the money on repairs yourself, and you need to find a buyer who’s ready to tackle the work. This makes a quick cash sale a great option. At House Buyers Cash Company, we’re ready to buy your home in around two week’s time.
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