Chinese drywall homes for sale draw some buyers

Florida real estate agents increasingly list properties constructed with defective drywall from China and, increasingly, buyers are showing interest.

Some of the homes have been remediated to eliminate the contamination, and others are offered "as is" – but most dangle cut-rate prices attractive to prospective owner-occupants and investors alike.

Property agents say that as long as buyers understand the risks – the jury is still out on the health threats associated with tainted drywall – those with the money to fix up a dwelling stand to benefit financially in a sale. However, they also worried about the investors, some of which aim to purchase properties at bargain prices and leave the drywall in place or, at least, take the biggest shortcut to removing it. They'll then rent the homes, most likely to low-income tenants.

While most brokers require sellers to sign a disclosure document if their property has contaminated drywall, the law does not require it; and renters are unlikely to even see such a form, anyway.

Source: Tampa Tribune (05/06/10) Behnken, Shannon

Source: INFORMATION, INC. Bethesda, MD