Real Estate Glossary

What is Asbestos?

Asbestos is a naturally occurring mineral that was widely used in construction materials during the 20th century. It was popular because it is heat-resistant and can help prevent fires, as well as being a good insulator. However, it was later discovered that asbestos is extremely hazardous to human health and can cause lung cancer, mesothelioma, and other serious illnesses.

Why is Asbestos Important in Real Estate?

When it comes to real estate, asbestos is important to know about because many buildings constructed before the 1980s contain materials that contain asbestos. If these materials are disturbed or damaged, asbestos fibers can be released into the air and pose a health risk to anyone nearby. This means that if you're buying or selling a property, it's important to have it inspected for asbestos so that any necessary remediation work can be done to ensure the safety of those who will be living or working in the building. Asbestos can also affect the value of a property, as the cost of removing it can be expensive. Therefore, it's important to be aware of the presence of asbestos and factor it into any real estate transactions.