hard · National Real Estate Exam
A buyer's agent is preparing a transfer disclosure on a 1975 home and notes that a federal lead-based-paint pamphlet and disclosure were delivered, signed, and the 10-day inspection opportunity was offered. After the disclosure is signed but before closing, the seller mentions to the agent that a contractor recently found and partially scraped peeling paint in a closet not previously noted.
Under the federal lead disclosure regime, what is the agent's correct obligation regarding this newly surfaced information?
- No further action is required because the lead disclosure and pamphlet were already properly delivered and the 10-day period was satisfied before the new information arose.
- The seller's knowledge of newly identified peeling paint is a known lead-based-paint hazard that must be disclosed, requiring the disclosure to be supplemented before the buyer becomes obligated at closing.
- The agent need only note the peeling paint in the inspection report, since the federal rule governs only records and reports already in the seller's possession at listing.
- The new information must be disclosed only if a certified risk assessment confirms the paint contains lead, since unconfirmed peeling paint is not a "known" hazard.
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