What is a Lead-Based Paint Disclosure and why should you care? If you’re selling your home you NEED these tips…
Hey everyone, welcome back to our channel! I’m Lindsay, with the Wise Move AZ Team at Realty ONE Group. If you want to stay up to date on all things Anthem and Real Estate then need to subscribe to our YouTube Channel. Pro Tip: While you’re there, 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 sale of their home. A lot of work goes into getting your home under contract and one of the key pieces is the Lead-Based Paint Disclosure. Now, the Lead-Based Paint Disclosure isn’t required on every sale in Arizona, but when it is, it is VERY important, so stick around to find out if you need to make this important disclosure for your home.
If you’re thinking, ‘But Lindsay, I’m buying a home NOT selling!’, don’t worry we will be sharing our best tips for Buyers in next week’s video and blog post, so make sure you subscribe and hit the bell icon so that you can be notified when that video is released.
First things first, what is Lead Based Paint?
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 EPA (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 for 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
- Hearing damage
High levels of exposure in children can be even more severe, including:
- and in some cases, death
In adults, lead based paint can cause:
- Harm to a developing fetus
- Increased chance of high blood pressure during pregnancy
- Fertility problems (in men and women)
- High blood pressure
- Digestive problems
- Nerve disorders
- Memory and concentration problems
- Muscle and joint pain
Pretty scary, right?
Long story short, lead is a hazard to our health and if it’s in a home you’re hoping to sell your home, you need to make sure that you are properly disclosing the existence of or the potential for lead based paint in your home.
When is the Lead Based Paint Disclosure Required?
In Arizona, a lead-based paint disclosure is required when a home was constructed prior to 1978 OR if it was built after 1978 and the Seller knows or has reason to believe that Lead-Based Paint may be present in the home. Disclosures are a very important part of selling a home, and to help with this, we created a whole video on the importance of disclosures and how to make them. If you are interested in watching that video, simply click in the cards for this video.
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. If you are selling your Arizona home that was built prior to 1978 or you suspect contains lead-based paint, here are 5 things you need to do:
1. Educate the Buyer
This is easily done by providing the buyer with an EPA-approved information pamphlet on identifying and controlling lead-based paint hazards. I’ll provide you with a copy of this at the end of the video, so stick with me.
2. Disclose, Disclose, Disclose
Disclose any known information concerning lead-based paint or lead-based paint hazards. As the Seller, you must also disclose information such as the location of the lead-based paint and/or lead-based paint hazards, and the condition of the painted surfaces. Again, this is easily done using standardized forms created by the Arizona Association of REALTORS®. The required form is the ‘Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards’ for sales. If you need more room to write you can include additional information in the Seller Property Disclosure Statement or you can continue on a separate page that all parties will sign off on. The more information you can share the better protected you are. Trust me when I say, this is not something you want to get sued for!
Chances are, depending on when you bought, you had to go through the lead-based paint disclosure process as a buyer, when you bought the home. Where possible, provide any records and reports on lead-based paint and/or lead-based paint hazards that you have. This may include any inspections you’ve had done or records of remediation work. Sharing is caring, and this kind of “sharing” is required by the Arizona purchase contract!
4. Give the Buyer the Opportunity to Investigate
As the Seller, you must provide the buyer with a 10-day period to conduct a paint inspection and risk assessment for lead-based paint or lead-based paint hazards. Keep in mind that you and the Buyer may mutually agree, in writing, to lengthen or shorten the time period for inspections. Additionally, the buyer may waive this inspection opportunity.
5. Don’t Stress
All this can sound pretty heavy and even scary. While it is an important disclosure to make, my intent with this video is NOT to scare you. I promise! I just want to make sure you are protected. By making these disclosures you are mitigating your risk of getting sued, and nobody wants to get sued, right?! Your REALTOR® will help you ensure that you are filling out all of necessary paperwork, it is really up to you to read it, understand it, and be honest.
If you follow all of these steps, you’ll be in great shape when it comes to selling your home!
So there you have it! What do you think? Will you be required to do a Lead-Based Paint Disclosure on your home? Let me know using the form below.
If you’d like to view a copy of the Lead-Based Paint Disclosure and an approved EPA pamphlet that you can provide to Buyers, simply click here.
See YOU, next Thursday!