Under the federal lead-based paint disclosure rule, what opportunity must a buyer generally be given before becoming obligated under a purchase contract for pre-1978 housing?
Correct Answer
A) A 10-day opportunity to conduct a lead-based paint risk assessment or inspection, unless the buyer waives or modifies the period as permitted by the rule.
Under 42 USC 4852d and its implementing regulation at 24 CFR 35.92, sellers of pre-1978 residential housing must give buyers a 10-day opportunity to conduct a lead-based paint risk assessment or inspection before the buyer is obligated under the contract. This period exists to allow buyers to make an informed decision based on actual testing. The 10-day window is a default — the parties may mutually agree in writing to a different period or the buyer may waive the opportunity entirely.
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