Which homes it applies to
The federal rule covers most housing built before 1978. There are limited exceptions, such as some housing for the elderly or disabled without children, zero-bedroom units and housing found free of lead-based paint by a certified inspector. Ask your attorney or title company if you think an exception applies.
What the seller must do
- Disclose any known lead-based paint or lead-based paint hazards.
- Give the buyer any available records or reports.
- Give the buyer the EPA pamphlet Protect Your Family From Lead in Your Home.
- Include the Lead Warning Statement and the disclosure in the contract, with signatures.
- Give the buyer a 10-day opportunity to have the home inspected for lead, which the buyer may waive or the parties may change by agreement.
- Keep the signed disclosure records for three years.
For FSBO and flat fee sellers
Selling by owner doesn’t remove the requirement. Prepare the disclosure before you list so you can hand it over with the property disclosure statement. Add it to your NM FSBO paperwork checklist.
Questions
Do I have to test for lead before selling?
No. The rule requires disclosure of what you know and an opportunity for the buyer to inspect; it doesn’t require the seller to test.
Sources
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