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This document is a required Lead-Based Paint Disclosure for residential properties built prior to 1978, notifying potential buyers about the risks of lead exposure from paint, dust, and soil. It includes

How to fill out lead-based paint disclosure sales

How to fill out Lead-Based Paint Disclosure (Sales)

1. Obtain the Lead-Based Paint Disclosure form from a reliable source.
2. Fill in the property address at the top of the form.
3. Indicate whether the property was built before 1978, as this is relevant for lead paint regulations.
4. Provide information about any known lead-based paint hazards found in the property.
5. Disclose any history of lead-based paint inspection or risk assessment.
6. Ensure all sellers and real estate agents involved in the transaction sign and date the form.
7. Provide a copy of the completed disclosure to the buyer.

Who needs Lead-Based Paint Disclosure (Sales)?

1. All sellers of residential properties built before 1978 are required to provide a Lead-Based Paint Disclosure.
2. Real estate agents working with buyers and sellers of such properties must facilitate the disclosure process.
3. Buyers of homes constructed before 1978 need the disclosure for their awareness and safety.

This Lead-Based Paint Disclosure statement is required by Federal Law when selling residential housing built prior to 1978. If the home was constructed PRIOR TO 1978, this form is REQUIRED to be completed and signed by the seller and buyer. If the dwelling was constructed in 1978 or later, this form is not required. If in doubt about the timing of construction, use the disclosure form. Whenever the form is used, the seller must also give the buyer the EPA pamphlet discussed below.

People Also Ask about

What is the seller's disclosure of lead-based paint?

The Lead-based Paint Disclosure Rule requires sellers, landlords, real estate agents and property managers to provide specific information about known lead-based paint and lead-based paint hazards before prospective renters and homebuyers sign a lease or contract.

When must the lead-based paint disclosure occur?

As a result, buyers and renters of most housing built before 1978 must receive the “Protect Your Family from Lead in Your Home” pamphlet and known information on lead-based paint and lead-based paint hazards before buying or renting the housing. Lead can affect almost every organ and system in the human body.

Does Freddie Mac require a lead-based paint disclosure?

There are some exceptions, but a good practice is to always get the Addendum completed and signed if the property was constructed before January 1, 1978. The Addendum is not required for: Homes built during or after 1978. Dwellings that don't have separate bedrooms (i.e., lofts and efficiency apartments)

What are the requirements for Freddie Mac?

Freddie Mac outlines several eligibility criteria for borrowers including: A credit score of 660 or higher. A debt-to-income rate of 43% or lower. A down payment of 3%

Is lead-based paint disclosure required on conventional loan?

Certain types of housing, such as those for the elderly, lofts, and short-term rentals, can indeed be exempt from Lead-Based Paint disclosure requirements.

Who fills out the lead-based paint disclosure?

Before considering a deed-in-lieu of foreclosure on a tenant-occupied property built before 1978, if the Servicer is aware of, or becomes aware of, any outstanding lead-based paint or health code citations or violations against the property or property owner, it must notify Freddie Mac (see Directory 5), and include a

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What is Lead-Based Paint Disclosure (Sales)?

Lead-Based Paint Disclosure (Sales) is a legal document that informs potential buyers of residential properties built before 1978 about the presence of lead-based paint and its associated risks.

Who is required to file Lead-Based Paint Disclosure (Sales)?

Sellers of residential properties built before 1978 are required to file Lead-Based Paint Disclosure (Sales).

How to fill out Lead-Based Paint Disclosure (Sales)?

To fill out Lead-Based Paint Disclosure (Sales), sellers must complete the form by providing details about the property, including any known lead-based paint hazards and their history, and must sign the document.

What is the purpose of Lead-Based Paint Disclosure (Sales)?

The purpose of Lead-Based Paint Disclosure (Sales) is to protect buyers by ensuring they are aware of any lead-based paint risks and to encourage them to conduct inspections if desired.

What information must be reported on Lead-Based Paint Disclosure (Sales)?

The disclosure must report any known information regarding the presence of lead-based paint, any lead-based paint hazards, a summary of any lead risk assessments or inspections, and a statement regarding the buyer's rights.