I have a problem with rental property. I have run out of options.?
I bought a house 2 years ago and have been renting it out. It has been a good rental house until the day mold was discovered. Cleaning up the mold is so very expensive and as there has been alot of rain the mold has gotten worse. It can cost as much as the price of the house to clean it up and it might or might not come back. There is a great deal of liability involed in this house. If I try to cover up the mold it opens me up for a lawsuit. The home owners warrenty does not cover mold. I am living overseas this was an investment property. I am in a tax exempt status so what ever loss I have on the house can't be a tax write off. There is no way to prove the mold was there before I bought the house. As far as offers go I cant even get 2/3 value of the house. The house has been shown numerous time over the last few months and nobody wants it. The house is paid for for so I wont have to worry about paying the bank. Any ideas on what I can do would be greatly appreciated.
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