You Should Know Your Rights Before Buying or Leasing

3 Reasons You Should Know Your Rights Before Buying or Leasing

Before 1978 construction companies preferred using lead-based paint because of its reduced drying time and moisture-resistant capabilities. However, when research shed light on the harmful effects of lead, the government imposed a ban on lead-based paint. If you’re looking to buy or lease any property in the near future, you need to pay extra attention to lead-based paint.

Buying or leasing a home with lead paint will not only impose a serious risk to the health of residents but also lead to life-threatening diseases. Thanks to the strict laws against lead paint, now homeowners or renters have rights that will protect them against such activities.

The Lead-Based Paint Disclosure Rule: Explained

The federal law states that when a tenant or buyer chooses a home that is built after 1978, they have the right to know whether or not the home contains any lead-based containments. This is why it’s important to have a documented EPA pamphlet that indicates if the particular property contains any lead-based paint. The Lead-Based Paint Disclosure Rule is the federal law that states the seller needs to disclose all the important information in the copy.

The copy must be signed by both the parties – tenant or buyer at the time of leasing or selling. If you’re looking to make a purchase of a home, be sure you keep the record copy for three years from the lease date. While using the pamphlet, be sure you use the latest version that was updated on the 6th of January, 2020.

Why You Must Know Your Rights About Lead-Based Paint Property Buying or Leasing

Renters or buyers are protected under the Residential Lead-Based Paint Hazard Reduction Act of 1992. According to the act, the lender or seller has to disclose the potential hazards of lead to the borrower before they sign a lease or buy the property. The law was exclusively passed for the homes that were built before 1978. Having the right knowledge about building time will help you to ensure whether or not the property is free from contaminants. Let’s explore other reasons why it is important to know your rights before buying or leasing a home:

  1. Helps To Choose The Right Property: Knowing the right details about the property will help homebuyers or renters about the potential hazards of lead-based paint. It will assist homeowners or renters in ensuring whether or not they are buying or leasing the right property.
  2. Helps You Sue The Guilty Party: If you’ve been affected by the lead-based paint hazards, you can sue the landlord. According to the rules and regulations, the landlords should disclose every little information regarding the property and lead hazards. If they fail to do so, the lender has the full right to sue the guilty. When you know your rights, you can demand the right compensation amount from the guilty party.
  3. Saves Your Money From Investing In Wrong Property: Last but not least, knowing every fact about the property beforehand will help you to invest your money in the right direction. You don’t have to spend any time, effort or money dealing with the after-effects of buying the wrong property.

Be sure you get all the signed documents beforehand as they can help you to file for claims. It acts as a defensive layer that will help you to protect your money and, most prominently, your family.

Your Rights About Lead-Based Paint Property Buying or Leasing

How to Determine If a Property Has Lead Paint?

Before you rent or buy a particular property, it’s important to determine whether or not the property has lead paint. Moreover, this becomes more important if the property was built before 1978. If the seller is unsure whether or not the property contains lead paint, it becomes more important to test the presence of the paint. One of the best ways to test if the chosen property has traces of lead paint is by hiring a professional.

A reputable team can help you determine the content of lead paint accuracy along with how harmful it can be for your family. On the contrary, if you wish to choose the DIY method to test the lead paint, you can freely use it. But it comes with a downside as it can be expensive and many times offer false results. If you wish to complete the task without burning a hole in your pocket, it’s good to avoid the DIY method. Rather, calling the professionals should be a one-stop solution to ensure that you’re investing your money in the right direction.

Check Lead Warning Statement Thoroughly

When you buy or lease a property, your tenant will offer you a lead warning statement. This is given to disclose the areas that contain lead-based paint and the hazard that it can impose on your health. For this reason, you need to check it thoroughly and ensure that you’re buying the right property that will protect you, your family and your assets. Check out the simple steps to analyze the lead warning statement thoroughly.

  • Lead presence in the water
  • Year when the property was built along with the year when it was renovated
  • Lead paint location in the different areas of the property
  • The result from the lead paint testing done by professionals

Knowing these things beforehand will help you to make a wise decision in the end.

Contact ZOTApro Today to Buy the Right Property

Federal laws are one of the best ways to protect yourself from buying a property with lead hazards. When you get a lead warning statement from the lender beforehand, you can rest easy knowing that your loved ones are safe and secure. If you wish to know more about lead paint hazards, ZOTApro is ready to serve you with unrivaled and unparalleled support and service. With a highly skilled and trained team, we can help you determine the potential risks of lead-based paint in a property.
Our ultimate mission is to protect buyers and renters from buying properties that have lead paint. For this reason, we encourage people to know their rights before buying or leasing a home property. Contact ZOTApro today and get rid of all the hassles and stress.