Can You Sell a House With Lead Paint? Here’s What You Need to Now

Lead-based paint can pose some serious risks to homeowners. Most importantly, you need to understand the federal regulations regarding the hazardous substance in the home selling process. While the use of lead-based paint was discontinued in 1978, homes built before this year often have Lead paint.

Like other biohazards, lead paint can complicate the selling process. Here's what you need to know about selling a house with lead paint.

Lead Paint Can Be Dangerous

Lead is a highly toxic element that causes long-term damage to the brain and kidneys. Almost every bone in your body can absorb lead and release it in the body as you age.

The substance is more harmful to children of six years and younger. Unlike in adults, lower doses tend to affect children strongly and cause damage to the nervous system and vital organs. This is because the bodily systems are not fully developed. In addition, children are more likely to ingest the paint as they play and explore. As lead gets disturbed, it can turn into dust and enter the body through the respiratory system.

Statistics from the Department of Housing and Urban Development show that at least 35% of homes in the U.S. contain lead-based paint. However, the substance is primarily found in homes built before 1978.

Lead Disclosure When Selling a House With Lead Paint

When you're selling a house built before 1978, Federal law requires that you disclose any knowledge about lead paint in the house.

The seller should also provide an EPA-approved pamphlet informing the buyer more about lead. It helps the buyer understand the different methods of detecting lead paint in a home and preventive measures.Failure to disclose information about lead paint puts the buyer at risk. And you risk legal suits if a child suffers from lead poisoning. You could also face federal penalties and fines of $10,000 or more.

Selling a Home With Lead Paint

You can take two approaches to sell a house with lead paint. The first method would be selling the home as-is without making any repairs. This option can save you lots of time and money needed for the renovations. The second option is to fix the Lead issue plus other necessary repairs and stage the home for sale.

The two options involve very distinct strategies, and depending on your situation, one method may be better than the other.

Does Lead Paint Lower Home Value

In some cases, lead paint can impact the value of a home. If the seller knows the existence of lead paint in the home, it can affect its value. That's because buyers know they'll have to incur the cost of repainting the house.

Besides the repainting cost, buyers also consider the extra expenses of remodeling an outdated house. Most importantly, lead paint tends to be a dangerous health hazard during renovations because it can turn into dust. As a result, the buyer has to look for an EPA-approved contractor.

Endnote

Selling a house with lead paint is more complicated than selling an ordinary home. Removing the biohazard can be expensive and complicated. If you don't want to go through the hassles of lead testing and disclosure, you can sell the house directly to an experienced and reliable house buying company.