Real Estate

Selling and Buying a home with lead paint: what you need to know

Selling-and-Buying-a-home

Are you looking to sell a house which is built in 1978? The chances of the number of leads will increase depending upon when your home is built. In case, there is at least lead paint present in the house. You have to face some challenges while selling a home with lead paint. Only in one case, you can overcome your challenges if you are well informed about your legal obligations. There are certain laws surrounding it if lead paint exists on the home being bought or sold. The nuances for buying or selling a house where lead paint exists also increase. There are two types of disclosure will occur: first is federally mandated disclosure and the second type of disclosure is governed on a state by state basis.

As a real estate agent, the first question comes to your mind is why lead paint is an issue. As lead paint exists in most of the homes built before 1978. Yeah, it is true, as the years moved closer to 1978, it started reducing but there is still enough lead present to create a problem for the health who inhales it. As we all know, lead is a substance which is highly toxic in nature that will affect nearly every organ in the body. Several types of research say children smaller than smaller and equal to six years are more prone to risk because they consume more paint in their exploration.
Here are a few things that you need to know while selling or buying a home with lead paint :

1.Disclose information about lead paint:

You must tell the buyer if you know any lead paint in the home. Yeah, there are several sellers who don’t know about “ Is there any lead present in the paint or not”, they can sign off by saying they do not know about that matter.

2.Lead based paint test:

A certified lead – free home is easier to buy as compared to the house where lead paint exists. By selling a lead-free home, you are preventing buyer and children from the health-related risk.

3.Ten days to buyers for lead based paint test:

It is not necessary as a seller to conduct lead-free paint test but they have to give ten days period to them so that they can test in case if they want but you can reduce ten days period in case of buyer immediately wants to buy a house.

4.Property transfer lead paint notification:

Seller gives all perspective to the buyer such as property transfer lead paint notification before signing a buying and selling sale agreement which includes both federal and Massachusetts law. Seller has to fill himself all the details on the lead paint form. The real estate agent will give this form to the buyer at the time of the sale and buyer should not fill their own lead paint form. So we can say, the real estate agent will an important role between buyer and seller.

5.Pamphlet is must:

Distribute pamphlet to all buyers to inform about lead paint to them so that they can protect their families from a lead.

At last, Make you are meeting all the requirement or not.

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