Specific Information: Due to the lack of drywall manufactured in the USA between 2004 and 2007 many manufacturers were forced to buy drywall imported from China.
The "Chinese drywall" has been linked to the infiltration of sulfide gases can corrode electrical system and air conditioning components and other electrical appliances.
Some residents have been forced to move from their homes and a few builders in Florida have begun to replace the drywall.
The potential scope of the problem is enormous. In Florida alone, an estimated 36,000 households contain Chinese drywall inspections, and is estimated between 60,000 and 100,000 properties across the nation who can satisfy them.
Florida Department of Health (DOH) has received numerous complaints about properties in which you smell "rotten egg".
The agency (DOH) is currently identifying and evaluating potential hazards to human health associated with the corrosion of metals due to this problem.
Governor Crist has requested assistance from EPA to develop strategies to resolve the matter to the owners of these properties.
Legal Considerations: Many lawsuits have been filed in federal court, including claims about builders like Lennar, Banner Supply Company, a Chinese manufacturer of the drywall and a foreign company that distributed the product in USA.
Lawyers who represent clients in the Court find that there are properties in 13 states that have problems with the drywall. This anticipates that when the Consumer Products Safety Commission completed the investigation, it could be one of the largest product liability cases related to property developers in the U.S. history.
Like any situation that may materially affect the value of a property, the presence of Chinese drywall triggers the need for disclosure by publicizing his presence.
No one expects the Real Estate professional conduct inspections, or recognize signs that a household may contain this material. However, if an owner is aware of his presence, as if the real estate professional knows, the same should be disclosed. It is important to understand that not all Chinese are bad drywall and drywall not all bad from China.
National Association of Realtor's recommends: To attend the Realtors working with buyers and sellers of properties potentially affected by the Chinese drywall, FAR has developed "Chinese Drywall Addendum for Purchase" and has modified the disclosure of Seller's Real Property. These forms are designed to alert buyers about the presence of this material and give the option of building inspection or any method available to evaluate the property in this area.
Realtors working with buyers can provide a copy of this addendum in the search for a property in order to educate them on this issue.
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