A buyer in New York is purchasing a 1975 condominium. The seller provides proper lead-based paint disclosure. The buyer waives the inspection period but later discovers lead paint during renovation. Can the buyer take legal action against the seller under New York law?
Correct Answer
C) No, because the buyer waived their inspection rights and received proper disclosure
Under New York's adoption of federal lead disclosure law, if proper disclosure was provided and the buyer waived their inspection rights, the seller has fulfilled their legal obligations. The buyer's later discovery of lead paint does not create liability when proper disclosure procedures were followed.
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Previous Question
Tom is selling his 1979 house in Rochester, New York. His real estate agent tells him he needs to provide lead-based paint disclosure. Is the agent correct?
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A New York real estate brokerage represents both buyer and seller in the sale of a 1972 home (dual agency with proper disclosure). The seller mentions to the listing agent that they think there might be lead paint in the basement but are not sure. What are the brokerage's obligations regarding lead disclosure?