The future is upon us, but actually we are so behind, the future is here and some of us may be phased out entirely. What am I talking about? ROBOTS! Several companies, one in California, one in Brooklyn currently employ Bots to show real estate and take questions from Buyers. Artificial intelligence, programmed into the […]
Most of us have lived in a home built prior to 1978 and never gave it any thought that our home could be a hazard to our health. I vision my younger sister standing on her tip toes over the window ledge trying to see outside. Like most toddlers she chewed on it and most likely consumed paint chips that contained lead.
In 1992 congress passed a law that began in 1996 that states owners and landlords must disclose to buyers and renters any knowledge of lead paint, the possibility of lead paint, any test results for lead paint, provide a HUD required disclosure pamphlet and allow for a 10 day inspection period.
Owners and landlords are required to attach the information to a lease or have a clause that states that the tenant or buyer has received the required disclosures. They are also required to keep this information for three years. Because there are some exemptions you can read more about this at: https://www.hud.gov/program_offices/healthy_homes/enforcement/disclosure
For real estate professionals the responsibility falls upon you to inform your client of this disclosure and provide the forms to them. It’s a good practice to keep the required disclosures on file to avoid this slipping by while processing all the necessary paperwork for a successful transaction.
The forms are available at the HUD website:https://www.hud.gov/sites/documents/DOC_11884.PDF
Happy home selling 🙂