If a property had an extensive mold issue that was remediated, how would it likely be classified?

In the context of real estate, a property that has previously experienced significant issues such as mold infestation, even after remediation, is typically classified as a psychologically affected property. This classification arises because potential buyers or tenants may have concerns about the property's history and the implications for health and safety. The presence of mold can lead potential buyers to worry about air quality and other health risks, which can create psychological barriers to purchasing or renting the property.

Classification as a psychologically affected property seeks to ensure transparency in real estate transactions. Sellers may have an obligation to disclose past issues, including mold problems and their resolution, as this information can impact a buyer's decision-making process. By identifying the property this way, it acknowledges that, despite remediation efforts, the history of the issue can influence perceptions and marketability.

The other classifications, such as normal property, distressed property, or a commercial concern, do not adequately capture the nuances of the situation where past issues may linger in the minds of potential buyers, making psychological effects a critical factor in how the property is viewed in the market.