If you’ve recently bought a new home, you may have had an appraisal, inspection and radon test as part of the purchasing process. These items are often required by the mortgage lender; extending a loan secured by a home that harbors a dangerous condition or is structurally unsound can cost the lender money, so ensuring your home meets or exceeds all relevant standards can render it a much safer investment.
Generally, the results of your radon test won’t be reported to you unless they indicate high radon levels inside the home.
While high radon levels can result in denial of a mortgage loan–and can sometimes give you the right to cancel a purchase agreement without penalty unless the seller agrees to pay for radon mitigation–borderline levels may be enough to pass your lender’s standards, even though this data could indicate a radon problem that needs attention.
Read on to learn more about this tasteless, odorless, colorless gas and how radon mitigation services can keep you and your family safe after you’ve purchased a new home.