GRAR Lead Compliance Addendum Purchase Sale Contract 2009-2025 free printable template

SELLER. PROPERTY. Disclosure of information on Lead-Based Paint anchor Lead-Based Paint Hazards. Lead Warning Statement. Every buyer of any interest ...

How to fill out lead compliance addendum form

How to fill out GRAR Lead Compliance Addendum Purchase Sale Contract

1. Start by downloading the GRAR Lead Compliance Addendum form from the official website or your local real estate association.
2. Read the instructions carefully to understand each section of the addendum.
3. Fill in the property details, including the address and legal description.
4. Indicate whether the property was built before 1978, as this is relevant for lead-based paint disclosures.
5. Provide information on the seller's knowledge of lead-based paint in the property.
6. Include Buyer and Seller names as well as their signatures at the bottom of the addendum.
7. Review the completed form for accuracy and completeness before submission.
8. Attach the signed addendum to the Purchase Sale Contract.

Who needs GRAR Lead Compliance Addendum Purchase Sale Contract?

1. Real estate sellers who are selling properties built before 1978.
2. Buyers who are purchasing homes that may have lead-based paint concerns.
3. Real estate agents facilitating the transaction.
4. Landlords who need to comply with lead disclosure regulations.

Video instructions and help with filling out and completing lead compliance addendum

Instructions and Help about lead compliance addendum form

I brought everybody Michael Walter from taking action today calm and in this video I want to show you how to fill out your purchase agreement for your properties that you've negotiated you're ready to buy and then you most likely are going to go ahead and wholesale these deals, so I'm going to walk you through the process of filling out the paperwork and then get it to the title company so here's your standard purchase and sales agreement made by in between we'll say Jo seller whose address is this is the home you're buying that's going to be one two three Megan Street Cleveland agrees to sell save Mike invest dork here and after called the buyer whose address is throw your address in there the real property described as the following put the physical address that's the 1-2-3 Main Street not for your purchase price let's say we negotiate this deal to $10,000 so right in 10,000 and spell it out as well earnest money buyer agrees to pay on our contract we put it 10 dollars as refundable earnest money to be applied towards a purchase price upon closing of the property earnest money to be held by the buyer or title company or closing agent, so that makes it pretty easy on our end down here we got property included in the purchase price you could put anything you negotiate in here with the seller I mean if they want to throw in a lot more you put that in here you know we have all the fixtures the fans appliances if we negotiate that anything the tool you agree to that's where you'll put that in their over here we have a few items we cover you know consult an attorney with any questions on the contract inspection properties being sold as is taxes this could go to whatever you negotiate check out public records see if there are taxes owed on it a lot of times you'll end up assuming them if you negotiate it a good enough deal just because the seller is distressed they want out so a lot of times you'll assume the text is closing on our contract we played that a buyer pays the closing cost same thing we negotiate a perfect deal on the front end, so we cover the cost to get it done go ahead and date the contract here's where Joe seller signs and then the buyer is Mike investor there now we have a solid contract here next we want to fill out our assignment a contract our contracts filled out we are searching for cash buyer to sell this contract they're going to bring all the money to the table including our assignment fee and cash us out so start out for valuable consideration the receipt and sufficiency of which is hereby acknowledged Mike investor hereby transfer and assign to will say cash investment group writes an interest that contract between Jo seller here you put the property description that's the one two three main street for the consideration of the sum of let's say we agreed to sell our contract for $2,500, so you put twenty-five hundred write it out as well 2,500 the assignment fee will be added to the overall purchase price of the property...

People Also Ask about

When was lead paint banned?

Lead-based paints were banned for residential use in 1978. Homes built in the U.S. before 1978 are likely to have some lead-based paint. When the paint peels and cracks, it makes lead paint chips and dust.

What is 42 usc 4852d?

42 U.S. Code § 4852d - Disclosure of information concerning lead upon transfer of residential property. permit the purchaser a 10-day period (unless the parties mutually agree upon a different period of time) to conduct a risk assessment or inspection for the presence of lead-based paint hazards.

Who is the burden of complying with the lead-based paint disclosure law?

Sellers, landlords, and agents are responsible for compliance.

Which of these is required in a lead-based paint disclosure?

What must a lead paint disclosure include? The disclosure form should summarize the federal law (the Residential Lead-Based Paint Hazard Reduction Act of 1992) that created the requirement, notifying the tenant that homes built prior to 1978 typically used lead-based paints and that they pose a health risk if ingested.

What is the HUD EPA lead disclosure rule?

Section 1018 of this law directed HUD and EPA 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.

Is lead-based paint disclosure required on FHA refinance?

The FHA/HUD official site reminds residents and landlords that the “Lead Disclosure Rule” requires home sellers and landlords of housing, “built before 1978 to disclose to purchasers and potential tenants knowledge of lead-based paint or lead-based paint hazards using a disclosure form, signed by both parties, attached

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What is GRAR Lead Compliance Addendum Purchase Sale?

The GRAR Lead Compliance Addendum Purchase Sale is a form used in real estate transactions to ensure compliance with federal and state regulations regarding lead-based paint disclosures in properties built before 1978.

Who is required to file GRAR Lead Compliance Addendum Purchase Sale?

Sellers of residential properties built before 1978 are required to file the GRAR Lead Compliance Addendum Purchase Sale to disclose any known lead-based paint hazards.

How to fill out GRAR Lead Compliance Addendum Purchase Sale?

The GRAR Lead Compliance Addendum Purchase Sale must be filled out by providing information on the property's age, disclosing any known lead-based paint hazards, and obtaining signatures from both the seller and the buyer.

What is the purpose of GRAR Lead Compliance Addendum Purchase Sale?

The purpose of the GRAR Lead Compliance Addendum Purchase Sale is to protect buyers by ensuring they are informed about potential lead hazards and to comply with legal requirements surrounding lead disclosure.

What information must be reported on GRAR Lead Compliance Addendum Purchase Sale?

The information that must be reported includes the year the property was built, details about any known lead-based paint hazards, and confirmation that the buyer has received information about lead safety.