medium · National Real Estate Exam disclosures

A seller includes an 'as-is' clause in a contract for a home built in 1950.

Does this clause exempt the seller from the federal requirement to provide a lead-based paint disclosure?

  1. Yes, but only when the property is being sold to a licensed general building contractor.
  2. No, though the 'as-is' clause does limit the buyer's right to test for lead to a 24-hour window.
  3. No, federal law requires lead-based paint disclosures for pre-1978 housing regardless of contract terms.
  4. Yes, because the buyer has already agreed in writing to accept the property with all existing hazards present.

Sign up free to see the explanation and track your rank →

More National Real Estate Exam disclosures practice

KomFi: Test Prep Made Easy

KomFi: Test Prep Made Easy — free adaptive practice for GMAT, GRE, SAT, ACT, National Real Estate Exam, Investment Banking, and finance with full explanations.

KomFi Academy is free GMAT prep and personalized GMAT help built as a training platform: 92,240+ practice questions, 30,500+ flashcards, on-demand video lectures, podcasts, and 4K slide decks. Flagship tracks: Free GMAT Prep, Free GMAT Resources, National Real Estate Exam Prep, Investment Banking Prep, Finance Prep, GRE, SAT, ACT, LSAT, MCAT, Financial Accounting, Private Equity, Private Credit, and Quantitative Finance.

Free GMAT Prep & Personalized GMAT Help

What's inside

Topics

View pricing · Read testimonials