Buying or Selling an older home…What you need to know about lead paint.

Q.I am buying an older home and wonder if it has lead paint.  How will I know?  What do I have to do about it?

A. In New Hampshire, if a property was built before 1977, it may contain lead paint, which could be hazardous to children or pregnant women.  A Seller’s only responsibility is to notify the Buyer that a possible lead paint hazard does exist.  However, if this notification is not given, the Buyer has no recourse.  If this is a concern of yours, be sure to ask.

This issue becomes more complex if you are buying an investment property.  If indeed there is lead paint in the property, you cannot rent to families with children under the age of 6 or without rectifying the problem.  If you already have such a tenant in the property when you become aware of the lead paint, you must request they vacate, but cannot evict them.  You then have 30 days in which to remove, replace or permanently cover the lead based substance.

To find out if such a hazard exists, ask your Realtor to refer you to companies that will do testing for you.  Be sure, however, that this is addressed in your Purchase and Sales Agreement.

Published in: on March 15, 2010 at 12:44 pm  Leave a Comment  

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