New York Real Estate Salesperson ExaminationProperty Condition and DisclosuresEasy
A New York real estate salesperson is representing a buyer interested in an older home built in 1972. During the initial showing, the buyer notices some peeling paint on the window sills and asks about potential hazards. What is the salesperson's primary responsibility regarding lead-based paint disclosure in this scenario?
- ATo recommend the buyer waive their right to a lead-based paint inspection to expedite the closing process.
- BTo personally test the paint for lead and provide a certified report to the buyer.
- CTo ensure the seller provides the EPA-approved lead hazard information pamphlet and discloses any known lead-based paint.
- DTo advise the buyer that lead-based paint is only a concern in homes built before 1950 and is not an issue here.
Show answer & explanationAnswer & explanation
Correct answer: C. To ensure the seller provides the EPA-approved lead hazard information pamphlet and discloses any known lead-based paint.
Federal law requires sellers of homes built before 1978 to disclose any known lead-based paint hazards and provide an EPA pamphlet. The salesperson's role is to ensure this disclosure occurs, not to perform testing or advise against inspections.
Why the other options are wrong
- A. Advising a buyer to waive a legal right without proper information or consideration of risks is a breach of fiduciary duty and unethical.
- B. Salespersons are not qualified or required to test for lead-based paint; this is a specialized service.
- D. While risk is higher in older homes, the federal disclosure rule applies to homes built before 1978, making 1972 relevant.
Lead-Based Paint Disclosure
Federal law requiring sellers/landlords of homes built before 1978 to disclose known lead-based paint hazards and provide an EPA informational pamphlet to buyers/tenants.
- Applies to homes built before 1978.
- Seller must disclose known hazards.
- Seller must provide EPA pamphlet.
- Buyers get a 10-day inspection period.
Memory trick: Lead is dead if the house is said to be from '78, or earlier, so disclose it, don't hate her!