Lead Paint Disclosure| What is it? Why is it important?

Cori Dunphy
Published on November 18, 2019

Lead Paint Disclosure| What is it? Why is it important?

https://youtu.be/H6-hWY2KQiQ

It’s the Lead Paint  Disclosure Statement.  If you’re buying a home in Monmouth County, NJ you NEED this information.

Hey everyone, it’s Cori your local  real estate expert with Monmouth County Dream Homes and Re/MAX Central located right here in Marlboro Township.  This is definitely the place to be if you want information all about Real Estate and Monmouth County. Check back often, my new videos come out each and every monday!

As your Local Monmouth County REALTOR® I love helping people navigate through the home buying and selling  process. There is a LOT of paperwork that we need to address when buying or selling a home. One thing that you must sign when you are selling a home, and get signed when you are making an offer on a home is the Lead Paint Disclosure Statement.

What is Lead Based Paint?

NOPE this is NOT a trick question.  It’s just paint with lead in it. Duh? 

Why is Lead Based Paint a Problem | Is it Dangerous?

Lead based paint is a problem because it can lead to serious health issues.  E It’s deadly and harmful to humans and pets. It takes the slightest amount for harm to occur! Exposure to lead is especially dangerous in children.  So if you are thinking about buying a home you need to be super sure the home is a safe and healthy place for your family!

How do I Know if a Home has Lead Paint?

Lead paint can be a problem in homes built prior to 1978.  This is why the Lead Base Paint Disclosure exists. If a home you are purchasing is built Prior to 1978 there are additional steps you can take to protect yourself.  I will have a video coming out about that shortly so stay tuned!

What is the Lead Base Paint Disclosure Statement | When is it needed?

As I mentioned, Buildings built before 1978 are much more likely to have lead-based paint. Federal law requires you to provide certain important information about lead paint before a prospective buyer is obligated under a contract to purchase your home. This form is needed 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.  

Is the Lead Base Paint Disclosure Hard to Fill out?

The Lead Base Paint Disclosure is truly one of if not the easiest forms in real estate to fill out if you need one.   But you must take it seriously as a buyer or a seller. 

If you want to have a copy of the lead paint base disclosure document in front of you while I review it, click here. 

Some important info regarding the form

(show quik time film of form)

#1: You can not edit the form

This is truly a fill in the blank form.  If they want a check mark put a check mark, if they want initials put your initials.  

#2: The Sellers Section ( section A)

The sellers job is to answer A and B and then provide any known documentation or hazards.  

#3: The Buyers Section

The buyers job is to initial that they received copies of information if copies are available.  They have to acknowledge they have received the pamphlet about Lead Paint in the home. The buyer also has to check do they want to have a risk assessment done or are they waving the opportunity.  Personally for me, in my 17 years, I have NEVER had a client request a risk assessment.

#4: The Listing Agent

The listing agent on the property also supplies their initials.  They are signing that they have informed their sellers of their duty to fill out this form!

#5: Certification of Accuracy

This is where EVERYBODY SIGNS.  All the sellers, all the buyers and both the listing and selling [email protected]

So, really that it. If you didn’t grab your copy of the Lead Paint Disclosure Statement  click here. Remember I”ll have another video coming out shortly about Buying a Home built prior to 1978 and how to protect yourself!

Thanks for joining me this week, I’ll see YOU, next monday when i’ll be back to talk about Real Estate and or Monmouth County!