Lead Based Paint Disclosure-What, When and How
Some residential housing units built before 1978 contained lead based paint which, after being found to be a potential health hazard to the occupants, was outlawed in 1978. As a result, the Environmental Protection Agency (EPA)requires home owners that are selling their homes,condos, villas or other residential unit that was built before 1978, as well as landlords renting out a residential unit built before 1978, to make certain disclosures to the buyer/tenant. Failure to comply with these disclosure requirements can not only create a potential health risk for the new home owner or tenant, but can also subject the property owner to rather large fines.
What a Seller must do
- Provide to the buyer, prior to the buyer being obligated under a contract to buy your home, an EPA-approved information pamphlet on identifying and controlling lead-based paint hazards titled Protect Your Family From Lead In Your Home. This may be attached to the contract or can be referenced in the contract. You can download the pamphlet here.
- You must provide to the buyer, prior to the buyer being obligated under a contract to buy your home, a written disclosure of any known information concerning the presence of lead-based paint or lead-based paint hazards in the home or building. For multi-unit buildings, this requirement includes records and reports concerning common areas and other units when such information was obtained as a result of a building-wide evaluation. This may be attached to the contract or can be referenced in the contract. The disclosure must confirm that the seller has complied with all notification requirements. You can download an EPA sample form here..
- Allow the buyer a 10-day period to conduct a paint inspection or risk assessment for lead-based paint or lead-based paint hazards. Parties may mutually agree, in writing, to lengthen or shorten the time period for inspection. Homebuyers may waive this inspection opportunity.
What a Landlord must do
- Provide to the tenant, prior to the tenant being obligated under a lease, an EPA-approved information pamphlet on identifying and controlling lead-based paint hazards titled Protect Your Family From Lead In Your Home. This may be attached to the contract or can be referenced in the contract. You can download the pamphlet here.
- You must provide to the tenant, prior to the tenant being obligated under a lease, a written disclosure of any known information concerning the presence of lead-based paint or lead-based paint hazards in the home or building. For multi-unit buildings, this requirement includes records and reports concerning common areas and other units when such information was obtained as a result of a building-wide evaluation. This may be attached to the contract or can be referenced in the contract. The disclosure must confirm that the seller has complied with all notification requirements. You can download an EPA sample form here..
Additional Resources
We can get you through it!
We know this can be intimidating for a new landlord or a for sale by owner, but our professionals at MORE, REALTORS can show you just how easy we can make it for you from start to finish! We know the St. Louis market and have some of the most knowledgeable and experienced brokers and agents in St. Louis in our firm.