Zonolite attic insulation/house selling question

[ed kerns]

I have an estate house for sale that a home inspection reveals has Zonolite attic insulation which likely contains asbestos. We have a purchase offer on the house, which would require the removal of the attic insulation. At first blush it looks like proper remediation will cost around 10k.
Does anyone have first hand experience in this type of situation? The house is listed at $78,000 so a ten grand hit is significant. There is no money in the estate (except the home value) to do the work. The EPA recommends leaving the material alone and undisturbed, but I certainly understand why a potential buyer would want it gone.
My options seem to be taking out some sort of loan to have the insulation removed and hoping the buyer completes the purchase - or saying no and waiting for another potential buyer who may or may not have the same concerns. I'm interested in hearing from anyone who has been on either side of this issue (buyer or seller). Thanks!

[blackhat]

Get a sample tested?  Not all zoo lite contained asbestos.

[Dogdays]

I have an estate house for sale that a home inspection reveals has Zonolite attic insulation which likely contains asbestos. We have a purchase offer on the house, which would require the removal of the attic insulation. At first blush it looks like proper remediation will cost around 10k.
Does anyone have first hand experience in this type of situation? The house is listed at $78,000 so a ten grand hit is significant. There is no money in the estate (except the home value) to do the work. The EPA recommends leaving the material alone and undisturbed, but I certainly understand why a potential buyer would want it gone.
My options seem to be taking out some sort of loan to have the insulation removed and hoping the buyer completes the purchase - or saying no and waiting for another potential buyer who may or may not have the same concerns. I'm interested in hearing from anyone who has been on either side of this issue (buyer or seller). Thanks!

My neighbors discovered this or something similar in their home and found that an asbestos settlement trust would pay for a majority of the remediation expense.  I just did a quick google search and found this site for Zonolite: https://www.zonoliteatticinsulation.com/...nformation.  It looks like it will pay 55% or the cost up to $4,125.  Worth checking out.

[ed kerns]

I have an estate house for sale that a home inspection reveals has Zonolite attic insulation which likely contains asbestos. We have a purchase offer on the house, which would require the removal of the attic insulation. At first blush it looks like proper remediation will cost around 10k.
Does anyone have first hand experience in this type of situation? The house is listed at $78,000 so a ten grand hit is significant. There is no money in the estate (except the home value) to do the work. The EPA recommends leaving the material alone and undisturbed, but I certainly understand why a potential buyer would want it gone.
My options seem to be taking out some sort of loan to have the insulation removed and hoping the buyer completes the purchase - or saying no and waiting for another potential buyer who may or may not have the same concerns. I'm interested in hearing from anyone who has been on either side of this issue (buyer or seller). Thanks!

I have checked out the Zonolite trust and it came back as 'consistent' with their product. It appears I'd be eligible for the reimbursement which certainly eases the pain, but still leaves me on the hook for around $6000. I've read (and the internet is NEVER wrong) that testing for asbestos in this application is difficult and not 100% accurate as it involves visually inspecting a small sample under a microscope for asbestos fiber. The EPA recommends that one should assume Zonolite contains some amount of asbestos. The inspection from the Zonolite folks is apparently for barium which is how they ID it as their product. They are quite clear that they don't test for asbestos. Frankly, I think it's an overblown issue - but my thinking that doesn't get this house sold
.

[CLETUS]

I have an estate house for sale that a home inspection reveals has Zonolite attic insulation which likely contains asbestos. We have a purchase offer on the house, which would require the removal of the attic insulation. At first blush it looks like proper remediation will cost around 10k.
Does anyone have first hand experience in this type of situation? The house is listed at $78,000 so a ten grand hit is significant. There is no money in the estate (except the home value) to do the work. The EPA recommends leaving the material alone and undisturbed, but I certainly understand why a potential buyer would want it gone.
My options seem to be taking out some sort of loan to have the insulation removed and hoping the buyer completes the purchase - or saying no and waiting for another potential buyer who may or may not have the same concerns. I'm interested in hearing from anyone who has been on either side of this issue (buyer or seller). Thanks!

Offer to rebate the cost of remediation at the closing.

[ed kerns]

Offer to rebate the cost of remediation at the closing.

I've considered this. I'm not sure if the mortgage lender will come through without the work being already done. My realtor thinks not, but I'm exploring the option.

[jamesglenn]

Some states allow the owner to remove and bag asbestos in residences. I do not know your location or ability to accomplish this, but it's a possibility.  With the proper mask,filters, ventilation, and suit; the dangers are not negated which is why some states allow it.

I would definitely get a couple quotes from abatement contractors to at least know what the costs will be prior to making a decision.

[jteneyck]

BlackHat is right; not all Zonolite contains asbestos.  The vermiculite came from several mines only some of which contained asbestos.  I've never heard of using barium as a marker for asbestos.  We had the vermiculite we used tested for actual asbestos fibers and it is not hard to find if it's there. If you decide to have it tested you need to use a reputable lab, like McCrone Associates, in order to be assured of valid results.  

John

[ed kerns]

BlackHat is right; not all Zonolite contains asbestos.  The vermiculite came from several mines only some of which contained asbestos.  I've never heard of using barium as a marker for asbestos.  We had the vermiculite we used tested for actual asbestos fibers and it is not hard to find if it's there. If you decide to have it tested you need to use a reputable lab, like McCrone Associates, in order to be assured of valid results.  

John

Thanks John, From my (limited) understanding, the barium is a marker not for asbestos, but for Zonolite brand vermiculite. Specifically for the stuff mined in Libby Montana, in which the contamination occurred.

[Stwood_]

First, I would have a test done to determine for sure.

If it was contaminated, I would approach the buyers and offer to knock off half the cost (offer not over 5 grand).
If they didn't take the offer, move on.