Property Disclosures
This topic covers the duty to disclose material defects and the required federal lead-based paint disclosure that protects buyers and renters.
Material Defects and Misrepresentation
Even in buyer-beware jurisdictions, sellers and agents may not misrepresent a property and must disclose known material defects that are not readily observable. Agents must never actively conceal problems and should encourage buyers to obtain professional inspections. Whether particular facts must be disclosed varies by state law.
Lead-Based Paint and Environmental Hazards
Federal law requires that sellers and landlords of most housing built before 1978 provide a lead-based paint disclosure, the EPA pamphlet, and, for sales, an opportunity to test. Other environmental concerns include radon, asbestos, mold, and underground storage tanks. Massachusetts also has its own Lead Law with additional obligations for homes where young children live.