Radon
Radon is an odorless, colorless gas that is naturally occurring in the soil and can be present in high levels in Colorado. Radon is the second leading cause of lung cancer behind smoking, and the main cause of lung cancer among non-smokers.
You should ALWAYS test for radon when you are buying a home! Most home inspectors can add that service to your general inspection. A radon test usually takes 48 hours, and the testing device is placed on the lowest habitable level of the home.
If the test results are over 4.0 pCi/L (picocuries per liter), mitigation is recommended. The good news is that radon mitigation is relatively inexpensive (usually between $800-$1200) and quick to install. Even if a home has a radon mitigation system already installed, you’ll still want to test radon levels - the system may not be working as effectively as it should, and radon levels can still be high.
Radon is widely accepted as a health and safety concern, so even if a buyer has limited their inspection objection to health, safety, and structural issues, sellers will generally either agree to install mitigation or credit the buyer the cost of installing mitigation.
Check out Alpine Building Performance’s blog on radon for more information!
Title
Title is a common term in real estate transactions - it generally refers to how and by whom a property is owned. If you’re discussing how something appears in title, or how to take title, it is referring to how and by whom the property is owned, or how a new buyer intends to take ownership.
It can also refer to the title company that is handling the transaction.
Title Commitment
A title commitment is the title company’s commitment to provide the buyer and lender with title insurance, along with any requirements for and exceptions to that insurance.
Title Insurance
Title insurance protects the buyer (and lender) against any defects in the title. Check out this great resource from First American Title explaining title insurance!