You want to sell your property and you are wondering if you should remove the vermiculite first. Be aware that it is not mandatory to remove vermiculite, but the mere presence of vermiculite could deter more than one potential buyer. In addition, the issuing banks, CMHC (the company that will insure the mortgage loan if the down payment is less than 20%) and the insurance companies now require that one of the two parties proceed with the removal of the vermiculite if it is contaminated with asbestos. In fact, the devaluation of the property and the increase in potential costs during a disaster (e.g. leaky roof and collapsing ceiling gypsum carrying asbestos-contaminated vermiculite into the living space) were enough for these companies to now demand that vermiculite decontamination work be undertaken by a recognized and certified company. Therefore, you or the buyer will need to make a commitment to proceed with the vermiculite extraction and decontamination of the premises.
From experience, several real estate brokers have told us that it is best to remove the vermiculite from a house before selling it. This is because the number of potential buyers is increasing significantly and this increase in the number of buyers will sell at a much higher price. This gain in value often exceeds the costs of the vermiculite removal work. Despite the many benefits for sellers, a small proportion still prefer to reduce the amount of the sale to the benefit of the buyer.