Under federal law, when purchasing a pre-1978 home, which of the following correctly describes a buyer's right regarding a lead-based paint inspection?
Correct Answer
A) Buyers have 10 days to inspect and may waive this right in writing
Federal law (HUD/EPA regulations under the Residential Lead-Based Paint Hazard Reduction Act) gives buyers a 10-day opportunity — or a mutually agreed-upon period — to conduct a lead-based paint risk assessment or inspection in homes built before 1978. Buyers may waive this right in writing. The law applies to residential properties, not commercial, and does not require the seller to pay for the inspection.
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Related Concepts
A property condition disclosure is a written statement by the seller detailing the known condition of the property, including defects, repairs, and issues with major systems. Most states require sellers to complete this form.
Protected classes are groups of people who are legally shielded from discrimination based on specific characteristics.
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