What is a lead based paint disclosure and why should you care? If you're buying a
home you need these tips!
Hey everyone! Welcome back to our Channel, I'm Lindsay
with the Wise Move AZ Team at Realty ONG Group. If you want to stay up to date
on all things Anthem and real estate then you need to hit that subscribe button.
Pro Tip: you're also going to want to hit that little bell icon so that you're the
first to know when our new videos are posted every single Thursday. As your
Anthem, Arizona REALTOR® I have worked with a number of families to ensure a smooth
purchase of their home. A lot of work goes into getting under contract to
purchase a home and one of the key pieces is the lead based paint
disclosure. Now, if you watched our video last week, you may already have an
idea of what to expect when it comes to the lead based paint disclosure. Last
week we focused on tips for sellers. This week we're focusing on tips for buyers,
so stick around, to find out if this potential health hazard impacts you. Or
if you're selling, click to watch last week's video in the cards for this video.
Either way we've got you covered. Oh, and before I forget at the end of
this video I'll give you access to a copy of the lead-based paint disclosure
and other important documents, so stick around! First things first, what is lead
based paint? Okay, this might shock you but lead-based paint is paint that
contains lead... go figure! The Federal definition of lead-based paint is paint
that contains 0.5% lead or 5,000 milligrams of lead per kilogram of paint
chips. Congress passed the residential lead-based paint hazard reduction Act of
1992, also known as Title X to protect families from exposure
to lead from paint, dust, and soil. Section 1018 of this law
directed HUD and the Environmental Protection Agency to require the
disclosure of known information on lead based paint and lead based paint hazards
before the sale or lease of most housing built before 1978. Why is lead based paint a
problem? Lead based paint is a problem because exposure to lead can cause
serious health problems Exposure to lead tends to be more problematic in
children. At low levels of exposure in children it can cause nervous system and
kidney damage; learning disabilities, attention deficit disorder, and decreased
intelligence; speech, language, and behavior problems; poor muscle
coordination; decreased muscle and bone growth; and hearing damage. High levels of
exposure in children can be even more severe including seizures,
unconsciousness, and in some cases death. In adults, lead exposure can cause harm to
a developing fetus; increased chance of high blood pressure during pregnancy;
fertility problems in both men and women; high blood pressure; digestive problems;
nerve disorders; memory and concentration problems; and muscle and joint pain.
Pretty scary, right?! Long story short, lead is a hazard for our
health and if it's present in a home that you're hoping to buy, you need to
make sure that you're doing everything in your power to ensure the home is
healthy and safe. When is the lead based paint disclosure required? In Arizona, a
lead-based paint disclosure is required if the home was built prior to 1978 or
if the home was built after 1978 but the seller knows or has reason to believe
that lead-based paint may be present in the home. Reviewing and understanding the
Sellers' disclosures is a very important part of buying a home and to help with
this we put together a whole video on the importance of disclosures If you're
interested in watching that video, simply click in the
cards for this video. So, what do you need to do? The obligation
to disclose the presence or possible presence of lead based paint falls on the
Seller and their agent. That being said, if the home you're hoping to buy
requires a lead based paint disclosure there may be some additional work you're
gonna want to do. Here are 5 things we strongly recommend. #1: Educate
Yourself. This is easily done. The seller will provide you with an informational
pamphlet that's approved by the EPA, as well as a copy of the lead based paint
disclosure. You need to read both of these documents thoroughly and make sure
you understand them. I'll give you copies of both of these documents at the end of
this video, so stick with me! In addition to reading these documents, you'll
probably want to do some research of your own. #2: Order Testing. If the
home you're hoping to buy requires a lead based paint disclosure there are two
different tests that you'll want to consider. These are a lead-based paint
inspection and a risk assessment. The lead-based paint inspection tells you if
the home has lead based paint and where it's located.
The risk assessment will tell you if the home currently has any lead hazards from
lead in paint, dust, or soil. It will also tell you what actions need to be taken
to address the hazard. Note that you have ten days after contract acceptance
(unless otherwise negotiated) to get these tests done, so, you'll want to make it a
priority! Your REALTOR® will be able to recommend companies to conduct this
testing and can even help with scheduling them. #3: Get quotes.
If the testing comes back positive for lead-based paint or other lead hazards
in the home, we encourage you to take the time to get quotes to find out how much
it will cost to remedy this. You'll want to ensure that you're getting quotes
from lead safe certified contractors or renovators. Again, your REALTOR® can help
with this piece, but remember you want to be completely informed when it comes to
understanding the risks and costs associated with the lead-based paint.
#4: Work with the Seller to come to an agreement. As you conduct
your inspections, including your lead based paint testing, you may develop a
list of items you disapprove of. In Arizona, you can give this Seller the
opportunity to correct the items you disapprove of. This is dealt with in the
BINSR process. We go into way more detail about the BINSR process in one of
our previous videos, so I'll make sure that I link to that in the cards for
this video. But, for the purposes of this video, know that with the help of your
REALTOR® you can work with the Seller to come to an agreement on who will remedy
any lead hazards in the home, and most importantly if you can't reach an
agreement with the Seller, you're not obligated to proceed with the purchase.
#5: Don't Panic. If the home you want to purchase contains lead-based
paint or other lead hazards don't panic. Your REALTOR® is there to help you make
the best decision for you and your family. Know that lead hazards can be
remedied by lead-safe certified renovators and that these companies are
certified by the EPA and if the thought of buying a home that contains lead
hazards is just too much for you to bear, you are not obligated to proceed with
the purchase. If you follow all these steps you'll be in great shape when it
comes time to purchase your home. So, there you have it! What do you think? Do
you feel prepared to tackle the home buying process where a lead based paint
disclosure is required? Let me know in the comments. If you'd like to receive a
copy of the lead based paint disclosure and an EPA-approved informational
pamphlet, simply click the link in the description box below. I know this week
has been a bit heavy, but if you learned something, let me know by hitting that
like button, subscribing to our channel, and sharing this video with your friends!
See YOU next Thursday!