An Ohio real estate transaction involves a pre-1978 home where the seller states 'no knowledge of lead paint.' The buyer conducts a lead inspection during the 10-day period and finds lead paint in multiple rooms. Under Ohio practice, what can the buyer do?
Correct Answer
C) Terminate the purchase agreement or negotiate lead-related repairs/credits with the seller
Upon discovering lead paint during the inspection period, the buyer can negotiate with the seller for remediation, encapsulation, or a price credit, or terminate the purchase agreement. The buyer exercised their right to inspect, and now has information to make an informed decision.
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More Oh Disclosure Requirements Questions
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- → Tom, an Ohio seller, asks whether he must disclose that the property has a sump pump in the basement. Under Ohio disclosure practice, which statement is correct?
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An Ohio renovation contractor is hired to renovate a pre-1978 home. Under EPA's Renovation, Repair, and Painting (RRP) Rule, what must the contractor do?
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Victor, an Ohio listing agent, is preparing the lead-based paint disclosure addendum for a pre-1978 home. Under federal law, who must sign the lead paint disclosure?