following procedures:
• Give an EPA-approved information pamphlet on identifying and controlling lead-based paint hazards. • Disclose any known information concerning lead-based paint or lead-based paint hazards. The seller must also disclose information such as the location of the lead-based paint and the condition of the painted surfaces. • Provide any records and reports on lead-based paint or lead-based paint hazards that are available to the seller. • Include an attachment to the sales contract that includes a Lead Warning Statement and confirms that the seller or landlord has complied with all notification requirements. Sellers and homebuyers must sign and date the attachment. • Sellers must provide homebuyers a 10-day period to conduct a paint inspection or risk assessment for lead- based paint or lead-based paint hazards. Title X requirements allow the buyer to sue you for triple the amount of damages suffered from the exposure. To make sure you won’t have to triple-pay, triple-check that you have done all you can to disclose any potential hazard materials in your home. For more information, visit the EPA website: www.epa.gov/lead.
WHEN IN DOUBT, DISCLOSE
The best way to ensure no repercussions of liability from lack of disclosure is to disclose any known issues. However, just because you’ve disclosed a problem doesn’t mean the problem is yours. The buyer may negotiate potential costs of renovations into the deal. For example, if the cost to get the pipes fixed is appraised at $5,000, subtract the amount from the 108
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