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Contract Series Paragraph 28

George Clements ~ Greenville, SC Real Estate

 

Paragraph 28 of the Contract for Sale Deals with addendums and looks something like this:

 

28. OTHER ADDENDA: (A) LEAD-PAINT ADDENDUM: Seller states house may have been built prior to 1978. No___ Yes___. (If yes, lead-paint disclosure form EPA-3 sales (rev. 5/99) must be attached and made part of this Contract.) (B) ADDITIONAL ADDENDA: No___ Yes___.

 

If the house is built before 1978, "yes" would need to be checked and a lead based paint addendum would need to be added to the contract.  Any home built before 1978 requires a lead based paint addendum because of the potential danger it can cause.  Purchasers are required to sign off that they understand that the home could have lead based paint in it and are given a pamphlet of information.

The other "yes" would need to be checked if there is an addendum for anything else concerning the sale.  For instance, if there was a special sitiation concerning timing on possession then an addendum would need to be used to spell out the exact terms.

Comment balloon 0 commentsGeorge Clements • May 30 2008 09:11AM

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