REMEMBER TO DISCLOSE Informational Post

By
Real Estate Agent with AllMountainRealty.com

This year we have been involved in 3 listings that belonged to others and we are the second party in to try and sell the home. What makes these 3 unique is the homes were built before 1978. In all three cases when we presented the seller with the REQUIRED Lead Paint Disclosure they looked at us and said , "What's this?"

In Georgia you are required to disclose, if the house was built before 1978, the fact that there might be lead based paint. Yet in all three of these cases the disclosure was not done. I am going to assume out of lack of knowledge. Which is why I am writing this post . So what can happen?

1 If you get caught and yes the State does monitor these things the fine is $ 5,000 !!!

2 The buyer finds out about this after the fact and freaks out . Who knows where the $$$ will be in this case

3 The buyer renovates or has children . Either get sick from dust from the renovation containing lead or the child gets sick from eating paint chips. I do not even want to think about this one $$$$

So the bottom line is if a home is built before 1978 in Georgia you must have the exhibit for lead paint.

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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog

On line at www.allmountainrealty.com Call at 706 579 1098

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Brian Schulman
Coldwell Banker Residential Brokerage, Lancaster PA - Lancaster, PA
Lancaster County PA RealEstate Expert 717-951-5552

Pennsylvania has the same disclosure requirement.  I was under the impression that it was a federal requirement to provide a lead paind disclosure if the house was built before 1978.

Aug 14, 2009 08:22 AM #1
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Charles Perkins
Charles G. Perkins, CPA - Burien, WA

Washington state also requires lead based paint disclosures. 

Aug 14, 2009 08:24 AM #2
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Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

Hi Brian and Charles Thanks for your comments. I suspect every State has a fomr of one shape or another to use. Yes I do think ther is a Fed requirement as well. Thanks for your comments

Aug 14, 2009 08:28 AM #3
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

This is Federal LAW. 

This is also a DISCLOSURE, which means that the seller DISCLOSES the the buyer, the year the property was constructed and what, if any, knowledge the seller has about any testing, reports, existance of LBP, etc.

The buyer is entitled, by law, to receive the disclosure prior to considering writing an offer. 

The seller discloses.

The buyer then decides whether or not to make offer. 

Aug 14, 2009 08:30 AM #4
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Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

Hi Lenn thanks for your comment. In Georgia even if the seller does tell his agent and the home is older than 78 and the agent does not do the disclosure form , the agent is held liable too

Aug 14, 2009 08:45 AM #5
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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Sorry Charlie.  I misread the post the first time around.  I though you were representing the buyer and didn't get the disclosure.

If you're listing a property and the seller refuses to include the LP Disclosure, you are certainly at risk.

That's more risk than I'm willing to take.  If fouting the law is the seller's habit, they are dangerous.

Aug 14, 2009 10:32 AM #6
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Jim Crawford
Maximum One Executive REALTORS® - Atlanta, GA
Jim Crawford Atlanta Best Listing Agents & REALTOR

Tis is imperitive...but I have another question about the law ...how come all the foreclosures of homes built before 1978 are not require to disclose that known fact?

Aug 14, 2009 10:58 AM #7
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Jody Keating
Jody Keating Connective Realty,LLC, Bryan/College Station,TX - Bryan, TX
Broker/MM/Realtor, Bryan / College Station, TX

In Texas, the seller and the sellers agent are both responsible for the disclosure. The seller may not be aware that they are required to make any kind of disclosures so the sellers agent is responsible for informing the seller that they need to make the disclosure and they need to do so honestly. This is the only way that both the seller and the sellers agent can be legally covered.

The following is from the EPA Residential Lead-Based Paint Hazard Reduction Act of 1992--Title X

(4) Compliance Assurance. Whenever a seller or lessor has
entered into a contract with an agent for the purpose of selling
or leasing a unit of target housing, the regulations promulgated
under this section shall require the agent, on behalf of the
seller or lessor, to ensure compliance with the requirements of
this section.

Aug 14, 2009 02:04 PM #8
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