We are Pun and Associates, an experienced real estate law firm that has ensured stress-free real estate transactions for countless clients. When it comes to buying a new home, one crucial aspect that every buyer should be aware of is the presence of potential hazards.
We invited Sal Fichera, a trusted New York attorney at Pun and Associates, to talk about this important aspect of real estate transactions.
During a home sale, sellers must reveal any potential dangers linked to the property. These may encompass elements such as lead-based paint, asbestos, mold, or even the existence of radon gas. It’s important to note that if the property in question was constructed before 1978, the seller is obligated to adhere to the Residential Lead-Based Paint Hazard Reduction Act of 1992. According to this legislation, the seller must divulge all documented details, records, and reports concerning lead-based paint that they are aware of.
It’s also important to note that specific disclosure requirements may vary by state, so it’s always advisable to consult with a local attorney to ensure compliance with the law.
We hope this article and the video above are helpful to you. Check out our YouTube channel, and feel free to give P&A a call if you have any questions regarding real estate transactions. We look forward to hearing from you.