Paula, an Ohio buyer, exercises her right to a lead inspection during the 10-day period. The inspection finds lead paint on the exterior. Paula wants to terminate the contract. Under federal law, can she do so?
Correct Answer
B) Yes, the buyer may terminate the contract based on the lead inspection results within the inspection period
Under 40 CFR Part 745, if the buyer conducts a lead inspection during the inspection period and the results are unsatisfactory, the buyer has the right to terminate the purchase agreement. The buyer exercised the inspection right as intended by the law.
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More Oh Disclosure Requirements Questions
An Ohio property is in a township that has recently enacted a point-of-sale inspection requirement for residential property transfers. The seller was not aware of this new requirement. Under Ohio practice, whose responsibility is it to ensure compliance with local point-of-sale requirements?
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An Ohio property has a private road easement that requires the property owner to share maintenance costs with 4 other property owners. Under Ohio disclosure law, what must the seller disclose?
Jake, an Ohio seller, has a property with a French drain system installed to address yard drainage issues. Under Ohio disclosure law, must Jake disclose the drainage system?
Terry, an Ohio seller, has a property with a water softener installed to treat hard water from the private well. Under Ohio disclosure law, must Terry disclose the water softener and the reason for its installation?
- → 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?
- → Kevin, an Ohio first-time seller, asks whether he must disclose that his property is connected to the municipal sewer system. Under Ohio disclosure practice, which statement is correct?
- → Nancy, an Ohio buyer, is purchasing a property and asks about environmental assessments. Her agent explains the different phases. Under Ohio environmental practice, what is the purpose of a Phase I Environmental Site Assessment?
- → Sara, an Ohio buyer, asks her agent whether she should conduct an environmental assessment before purchasing a residential property in a suburban neighborhood. Under Ohio practice, when is an environmental assessment typically recommended?
- → Lisa, an Ohio seller, discovers that her property's drinking water has high iron content, causing staining of fixtures. The water is safe to drink but cosmetically unpleasant. Under Ohio disclosure law, must Lisa disclose this?
- → Christine, an Ohio seller, knows her property contains asbestos floor tiles in the basement. The tiles are in good condition and undamaged. Under Ohio disclosure law, must Christine disclose the asbestos?
- → Emily, an Ohio buyer, is purchasing a property near a former landfill. She asks her agent about potential environmental concerns. Under Ohio practice, what should the agent advise?
- → Roger, an Ohio seller, asks his agent whether mold is considered an environmental hazard that must be disclosed. Under Ohio disclosure practice, which statement is correct?
- → Matt, an Ohio first-time seller, asks his agent what an underground storage tank (UST) is and why it matters for disclosure. Under Ohio environmental law, why must USTs be disclosed?
- → Amanda, an Ohio seller, is completing the Residential Property Disclosure Form. The form asks about environmental hazards. Under Ohio law, which of the following must be disclosed if known?
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Previous Question
An Ohio seller previously had a lead inspection that found no lead paint in the home built in 1974. Under federal disclosure law, must the seller still provide the EPA pamphlet and disclosure form?
Next Question
An Ohio real estate firm's policy requires agents to include the lead-based paint disclosure addendum in ALL purchase agreements, regardless of the property's construction date. Under federal law, is this policy necessary?