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Addendum to Contract for Residential Sale and Purchase 1 If initialed by all parties, the terms below will be incorporated into the Contract for Residential Sale and Purchase 2* between (“Seller
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How to fill out lead based paint addendum
Point by point guide on how to fill out the lead based paint addendum:
01
Start by obtaining a copy of the lead based paint addendum form from a reliable source such as your local government or real estate professional.
02
Carefully read through the instructions provided on the form to ensure you understand all of the requirements and implications.
03
Fill out the property information section, providing details such as the address, unit number (if applicable), and any other relevant identifiers.
04
Familiarize yourself with the section pertaining to the disclosure of lead-based paint and hazards. This section typically requires you to indicate whether the property was built before 1978 (the year when the use of lead-based paint was banned in residential properties).
05
If the property was built before 1978, you may need to answer additional questions regarding the presence of lead-based paint or any known lead hazards. Provide accurate and complete information to the best of your knowledge.
06
Consider consulting with a professional, such as a home inspector or contractor, if you are unsure about the presence of lead-based paint in the property or need assistance in answering the questions accurately.
07
Review the certification section of the form, which typically requires your signature as the property owner or seller to attest to the accuracy and completeness of the information provided.
08
Keep a copy of the fully filled out and signed lead based paint addendum form for your records.
Who needs a lead based paint addendum?
The lead based paint addendum may be required in various situations, but generally it is necessary in real estate transactions involving residential properties built before 1978. This includes rental properties as well. Both property owners (sellers) and prospective buyers or tenants may need to fill out and sign the addendum, as it serves as a means of acknowledging and disclosing the potential presence of lead-based paint or hazards. Compliance may vary by jurisdiction, so it's essential to consult local regulations and seek guidance from professionals if needed.
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What is lead based paint addendum?
Lead based paint addendum is a legal document that discloses the presence of lead based paint in a property.
Who is required to file lead based paint addendum?
Property owners, landlords, and real estate agents are required to file lead based paint addendum.
How to fill out lead based paint addendum?
Lead based paint addendum can be filled out by providing accurate information about the presence of lead based paint in the property.
What is the purpose of lead based paint addendum?
The purpose of lead based paint addendum is to inform potential buyers or renters about the potential health risks associated with lead based paint.
What information must be reported on lead based paint addendum?
Information such as the location of lead based paint, its condition, and any prior testing or removal must be reported on lead based paint addendum.
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