What type of testing is often required by lenders concerning properties?

Lenders frequently require radon tests as part of the property assessment process. Radon is a naturally occurring, radioactive gas that can accumulate in buildings, particularly those with basements or lower levels. High levels of radon exposure can pose health risks, including lung cancer, which has prompted lenders to prioritize radon testing to ensure the safety of the property and its occupants.

This testing helps to identify any potential health hazards before finalizing a mortgage or loan agreement. Many lenders see it as a crucial component in ensuring that the property meets safety standards, which can influence both the property's marketability and the lender's long-term risk.

While soil contamination tests, structural integrity tests, and electrical safety tests are also important aspects of property inspections, they are not as commonly mandated by lenders in every transaction as radon tests are. Radon testing, especially in certain regions, has become a standard requirement to ensure that the home is safe for the occupants and does not represent a liability for the lender.