A buyer is purchasing a residential property built in 1965. Under federal lead-based paint disclosure requirements, what right does the buyer have regarding lead-based paint testing?
Correct Answer
C) 10-day opportunity to conduct a lead-based paint inspection
Under 24 CFR § 35.86 of the Residential Lead-Based Paint Hazard Reduction Act, buyers of pre-1978 residential properties must be given a 10-day period to conduct a lead-based paint risk assessment or inspection at their own expense, unless this period is mutually adjusted or waived by the buyer.
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Related Topics & Key Terms
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Related Concepts
Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
A property condition disclosure is a written statement by the seller detailing the known condition of the property, including defects, repairs, and issues with major systems. Most states require sellers to complete this form.
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