An Ohio buyer's agent represents a buyer purchasing a pre-1978 home. The seller's lead paint disclosure states 'No known lead-based paint.' However, the buyer's agent notices peeling paint on the exterior trim. Under Ohio and federal law, what should the buyer's agent do?
Correct Answer
C) Advise the buyer about the observation and recommend a lead inspection during the 10-day inspection period
Under the buyer's agent duty (ORC §4735.62), the agent should inform the buyer about the observed peeling paint on the pre-1978 home and recommend utilizing the 10-day lead inspection period to have the property tested. Peeling paint on a pre-1978 home is a potential lead hazard.
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Related Concepts
An as-is clause in a real estate contract states that the buyer accepts the property in its current condition without requiring the seller to make any repairs. However, an as-is sale does NOT eliminate the seller's obligation to disclose known defects.
Asbestos disclosure involves informing buyers about the presence of asbestos-containing materials (ACMs) in a property. Asbestos was commonly used in construction materials before 1980 and poses health risks when fibers become airborne.
Violating fair housing laws can lead to significant penalties, including fines, civil liability, and professional discipline.
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Previous Question
An Ohio seller has a lead inspection report showing lead paint in several rooms of a pre-1978 home. The seller renovated those rooms and encapsulated the lead paint. Under federal disclosure law, what must the seller disclose to the buyer?
Next Question
An Ohio seller of a pre-1978 home fails to provide the required lead-based paint disclosure to the buyer. The buyer closes on the property and later discovers lead paint. Under federal law, what penalties may the seller face?