Who signs the lead-based paint addendum first?
03/24/2017 | Author: Editorial Staff
Does it matter which party signs the Addendum for Seller's Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards (TAR 1906, TREC OP-L) first?
Yes. The seller must sign first because the seller has the obligation to provide information to the buyer regarding any known lead-based paint and/or lead-based paint hazards, as well as any records and reports pertaining to lead-based paint and/or lead-based paint hazards that the seller may have.
The prospective buyer must have this information when deciding whether to conduct a risk assessment or inspection for the presence of lead-based paint or lead-based paint hazards. Note that this seller’s disclosure must be made before any contract for the purchase of a residential dwelling built before 1978 is executed by the buyer.
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