Home Buyers Guide
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Step 5: This is It!
Congratulations! You've found a house you think could
be the one. Great, but there are still some things to consider:
Should I have a Home Inspection done?
Are you qualified to make the best observation of this home, or should you
consult the advice of a professional home inspector, engineer, or contractor?
Older homes may require additional attention. Look carefully. In addition to
the usual array of concerns, there are other issues you should be aware of.
Lead-based paint
All owners of homes built prior to 1978 are required to disclose anything they
know about the presence of lead in the home. Also required is that they provide
buyers with the EPA booklet entitled, "Protect Your Family From Lead in
Your Home." If a Realtor is handling the sale, they can provide the
booklet.
Sellers are legally obligated to sign a lead disclosure
statement. This disclosure reveals to the buyer any knowledge that the seller
has regarding the presence of lead. The seller must also make a 10-day window
of opportunity available to the buyer for a lead test to be done, at the
buyer's expense, if the buyer wishes to have one. Lead, if not handled
properly, can be hazardous especially to young children. However, it was a
common practice to use lead-based paint, and if properly maintained, no risk
may be present.
To find out more information about lead in the home:
Call the National Lead Information Center: 1-800-LEAD-FYI, or 1-800424-LEAD;
For the hearing impaired TDD: 1-800-526-5456. The EPA's Safe Drinking Water
Hotline: 1-800-426-4791. For additional information, see Hot Topics: More on
Lead.
Asbestos
Asbestos can present health problems, and some lenders will require that
treatment be performed; either removal or encapsulation prior to closing. This
could be costly, and should be identified prior to making an offer to purchase.
Keep in mind, however, that asbestos was frequently used as to insulate, and
its presence alone should not preclude you from making a decision to purchase.
It's best to get an expert opinion.
Megan's Law
The tragic death of 7-year old Megan Kanka of New Jersey, was the catalyst for
new legislation pertaining to the disclosure of those convicted of crimes
against children. New York State is just one of 43 states that now has its own
version of Megan's Law. While no specific federal guidelines exist with regard
to disclosure. New York State's Megan's Law requires the disclosure of sexual
offenders if they are currently living in "close proximity" to the
home for sale. Sellers may ultimately be required to disclose this information
to any buyer who asks. Information can be obtained by dialing 1-900-288-3838,
Monday through Friday, between 8 am and 5pm. Callers will reach the Division of
Criminal Justice Services (DCJS), who will provide information regarding those
listed on the State's Sex Offender Registry. The cost of the call is $5.00, and
callers are required to provide correct name, and wither an exact street
address, social security number, birth date, or driver's license number of the
person in question. As of March 31, 1998, there are 7,128 cases on the
Registry.
Equal Housing Opportunities
Federal law prohibits homeowners, landlords, real estate agents, or lenders
from refusing to rent or sell to any person on the basis of their race,
religion, color, sex, national origin, handicap, or children/familial status.
The Fair Housing Act prohibits the making, printing or
publishing of any statement, notice or advertisement in connection with the
sale or rental of housing which expresses a preference, limitation, or
discrimination based on race, color, religion, sex, handicap, familial status,
or national origin.
These represent the most common concerns, but may not be the
only elements to be concerned about. Discuss them with your Realtor and your
attorney.
From The Homebuyers' Guide, by Laurie J.
Bloom,
© 1999 The Multiple Listing Service of Long Island, Inc. All rights
reserved.
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