Can I sell a house if there’s lead paint in it?
Can I sell a house if there’s lead paint in it?
Let’s talk about the critical issue of selling your house that has lead-based paints so that you can confidently proceed with selling your house.
If you want to sell your house quickly, there are two options: an easier option and a harder option.
We’ll cover both methods in depth, as well as the reasons why they don’t always work.
How Can I Sell a House with Lead Paint?
There are two options for selling a house with lead paint.
If you want to sell your home without doing any renovations, you could choose to sell it as-is. You won’t need to spend time and money fixing up the property before putting it on the market.
The second method for selling houses is to fix up the property before marketing it.
There are two main options here. Depending on your specific needs, one may be better than the other. We’ll discuss both of these options in detail.
If you sell a house where lead paint was used, there may be obstacles you encounter when trying to get rid of the lead paint.
Since the 1970s, homeowners have been warned against buying homes painted with lead-based paints. Nowadays, most people would rather avoid lead poisoning than live in a house painted with lead-based materials.
Most home buyers are likely to borrow a large chunk of the cost of their house. If they’re buying from an FHA-insured seller, lenders may want to see proof that the property has been tested for lead-based paint.
Because lenders view properties as if they would own them, they won’t want to be stuck with a lead-paints problem after they’ve taken ownership.
Lead paint poisoning has been known to cause brain damage, kidney
Lead is a highly poisonous chemical that can cause serious health issues if consumed for an extended period of time. It can be stored in our bones, which means that as we age, the lead is released back into our bloodstreams.
Lead poisoning is especially dangerous for young people. Studies show that kids are more vulnerable to low levels of lead than adults. Low levels of lead can cause permanent damage to the developing brains of young people.
Lead paints are particularly dangerous because they break down over the years, allowing lead particles to enter the body. Children who ingest these particles may suffer from brain damage.
If lead paint issues exist in your home, you may want to disclose them if you’re selling it.
Federal regulations require sellers of homes with old-fashioned painted walls to disclose whether they contain any kind of hazardous material.
The U.S. has banned the use of certain types of paints containing toxic chemicals since 1978. If you’re selling a house built before 1978, you must provide prospective buyers with a “Painted Surfaces” disclosure.
The disclosure states the potential risks associated with the use of the product, including the possibility of exposure to toxic chemicals or substances. It also mentions whether or not the seller is aware of any hazards related to the product.
You must provide the potential buyer with an EPA-certified brochure describing how to identify lead-paints in their homes and what they need to do about them.
You will also need to give buyers up to ten days to test their lead-based paints before signing off on the contract. If they discover any lead-based paint, they must let you know immediately so that you can take appropriate action.
Furthermore, many states have additional requirements for disclosing lead-based paints. For example, some states require sellers of all homes, regardless of age, to disclose lead-based paints to potential purchasers.
Failure to follow federal regulations regarding lead-painted surfaces can result in potential prosecution for the homeowner.
You may be sued if you fail to disclose what you know about potential hazards in your house. This includes suits for damages for any health issues that were allegedly brought on by exposure to these hazards.
Option 1: Sell your house as-is for whatever price you want.
As we mentioned earlier in this guide, if you sell your house without removing the lead-based paints, you could end up having to pay thousands of dollars in fines.
Here’s a quick overview of how you can sell a house quickly, for free, and for a good price.
Will Anyone Buy a House with Lead Paint?
Home buyers typically want a “move-in ready” home. However, there are some who want to buy a house that needs repairs. They think they can fix any issues themselves and end up with a nice place for a reasonable cost.
One of the biggest challenges for these buyers is their ability to come up with enough money to buy the house. They may be able to get financing from conventional, FHA, or VA mortgages, but not necessarily at the best rates.
If the building was constructed prior to 1978, and the appraisers note deteriorating or pealing paint, then repairs must be made before the building will be considered for approval.
One of the biggest challenges is that these buyers aren’t interested in properties with major health issues.
On one hand, professionals who invest in real estate purchase homes for cash. They are well equipped to handle situations like having to remove toxic materials from their properties.
Real estate agents buy houses as investments. For them it’s a business decision – not an emotional one. Their clients can’t afford to live in properties with problems, so they’re willing to pay a premium price for a home that’s clean and safe. And if the property needs repairs, then the agent will charge extra for those too.
When buying real property, an investor looks at the current market conditions and determines if he wants to flip the property (buy it and then resell it) or not.
If they’re a long-term owner who rents their property out, they need a good rental market.
Investors can oversee the repairs and act as their own general contractor. They can hire contractors for specialized areas, such as lead-paint removal.
Real estate investors look for houses that need some repair so that they can get them at a lower price than others. They are used to working on old buildings and deal with lead-paint issues.
If you want to learn more about all of the aspects you need to consider when selling your house to a real estate investor for the first time, you can read our comprehensive guide “Selling Your House to an Investor the Right way”. Here we’ll discuss the main pros and consequences of doing so.
There are both benefits and drawbacks to selling a home as is to an investor.
Selling to an investor may be beneficial because they offer these advantages:
You buy the property without taking any action to fix the problem. All the burden of dealing with the lead paint is put on the new owner.
Investors usually buy real estate using their own funds rather than borrowing from a bank. They aren’t concerned about whether they’re going to get approval for the loan or if the property will pass inspection.
With lenders involved, along with appraisers and inspectors, the process may take up to six to eight months. Professional investors can sometimes get an investment deal closed within three to four months after they accept an offer.
If you sell directly to investors, there are no commissions. These are usually the largest part of a seller’s closing costs when selling a house through a real estate agent. Other costs can be included in an investors’ offer so that you don’t need to bring any funds to closing.
Investors usually want to see a property before they invest their own money into it. So if you’re considering selling a property, you shouldn’t need to stage it. And if you’re not staging it, you won’t have to keep showing it off.
Investors’ offers will vary depending on the amount of work needed and the level of interest they have in buying the property at a particular price. Depending on the current state of your house, their offer might be lower than the fair value.
However, you should always compare investor’s offer against the expenses involved in repairing and selling your house. Sometimes, the time spent preparing your house for resale could be more expensive than the increase in its price.
After comparing all the benefits and drawbacks, it might be worthwhile to consider selling your house to an investor.
If you want to get the most money when selling your house for cash, here are some tips.
To get the best deal when selling your house through real estate agents, you need to compare several different bids.
You’ll want to market your house to as many investors as possible. If you spend some time online, you may be able to find a couple of real estate investment companies who are active in the local community.
After that, you need to research them so you’re sure you’re dealing with investors who know their stuff. You also need to be certain they are well funded and that they’ve closed lots of deals before.
HouseCashin has taken care of all the hard research so that you don’t need to! They’ve found the top real estate investors in every state and made it easy for you to contact them.
You don’t need to fill out any forms multiple times. We simply put your offer requests in the hands of the top investors in your local area so they can get back to you quickly.
You don’t need to worry about finding leads; we’ll take care of everything.
You could remove lead paint from your house before selling it.
To help you compare, we’ll first need to examine the steps involved in selling your house the traditional way.
A lead-based paint inspection will need to be conducted before any further action. This will determine the extent of the damage and whether additional measures need to be taken.
After that, you’ll need to hire qualified people to do the work. You cannot do this by yourself unless you’re a professional contractor.
If there is significant damage to the roof, you may need to repair the damaged parts before doing any further work.
Once your house has been cleaned up from lead-based paint, then you can sell it to the general population. You might want to consider hiring a real estate agent for this purpose.
Is there any obligation to get your house tested for lead paint?
You’re not required to check if there are any lead-based paints in your house.
Federal law requires all builders of houses constructed before 1978 to…
Are they aware of any potential hazards from using old paint?
Show buyers a brochure explaining the dangers of lead-containing paints and the fact that they may be present in older buildings.
Give potential homeowners at least ten days to test out the house before they commit to buying it.
Some states have their OWN lead-based painting laws that go beyond federal law.
If older houses show signs of decay, lenders might ask for an inspection before they approve a loan. FHA and VA mortgages will usually request inspections for any house built prior to 1978.
If real estate agents working in older housing suggest that testing be performed for lead-based paint, they may legally do so under federal law. However, if they find any lead-based paint, then they must refer the client to another agent who specializes in handling these types of properties.
If you think there might be lead-painted surfaces in your house, you’ll want to get them inspected by a professional.
You can get an estimate from the Environmental Protection Agency (EPA) for the cost of having a professional inspect your house for potential hazards caused by old, chipped, peeling, or flaking paints. The inspection will tell you if there are any hazardous materials present in your walls, ceilings, floors, windows, doors, and trim. If so, the inspector will help you determine which repairs are necessary and provide you with contact information for local contractors who specialize in these types of projects.
Removing Lead Paint
If there is any evidence of previous exposure to toxic substances, including paint, remove it immediately. It must be replaced by a qualified professional.
The EPA’s Renovation, Repair, And Painting rule was adopted in 2010. It outlines how renovation projects involving older houses built before 1978 must comply with certain safety standards.
You need to be careful when using solvents to remove lead-containing paints because they may leave behind residue.
You can use a power sander to remove the old coatings from the walls. However, if you don’t want to risk damaging the wall surface, you should first soften the existing coating using a low-powered heater or a commercial degreaser. Then scrape away the softened material with a putty knife.
If it is decided that removing the paint will not solve the problem, then you may need to remove the entire surface entirely. This means tearing off drywall, painting over the wall, putting up new walls, and repainting everything else. It is important for workers to wear protective gear when they are working with the contaminated paint debris. They must be careful not to inhale any dust particles created by the disturbance.
If you don’t comply with these regulations, you could face fines from the EPA. These fines may be passed onto you by your contractors.
Repairing homes after they’ve been painted lead free
If you’re going to remove old paint from your house, you might want to consider having it tested for hazardous chemicals.
If you live in a house that was constructed before January 1, 1978 and if you have a child under the age six residing there, then you must follow EPA rules for residential radon.
This applies to:
If there’s any kind of disturbance in the room, paint that part red.
A job that requires more than 20 sq ft of exterior paint surface disturbance
Window replacement
Carpet replacement
Demolition work
HVAC repair or replacement
