Unit 4: Environmental Issues Disclosures Flashcards
What do most environmental issues fall under?
Environmental Protection Agency (EPA)
A seller tells the agent they have fixed the lead based paint in their home. What does the agent still need to do?
Even though the seller believes it has been cured or removed, the agent still needs to disclose any suspected environmental issue.
T/F Environmental issues are not considered material fact.
False. Environmental issues ARE considered material facts and MUST be disclosed.
What is asbestos?
A mineral used in buildings that can cause respiratory disease.
When was asbestos used in building materials?
Asbestos was used in a variety of building materials (pipes, wall insulation, flooring, and siding) before 1978
Which is the best way to remove asbestos?
Encapsulating the asbestos (sealing into place).
What state is asbestos the most dangerous?
Asbestos is only harmful if the fibers are friable (broken and potentially airborne).
What should happen to asbestos if a building is being demolished or renovated?
Abatement (removal) done by a licensed professional before demolition.
Why is lead dangerous?
Elevated levels of lead can cause serious and potentially fatal neurological damage.
What does federal law require sellers of housing built before January 1, 1978 to do?
Sellers, even if a real estate agent is not involved, need to provide buyers with a disclosure.
How many days do buyers have to get a home tested for lead?
10 days
T/F Buyers can terminate an offer during the 10 day lead inspection window.
True
T/F Sellers are required to do an inspection or an abatement.
False. Sellers are NOT required to do an inspection or an abatment.
What responsibilities does the broker have in terms of lead-based paint disclosures?
The broker must sign the disclosure and make sure that all parties are in compliance.
In properties built before 1978, what are property managers and landlords obligated to give their renters?
Lead-based paint disclosures and EPA pamphlets.
T/F A renter of a property built before 1978 is given the opportunity to test or have lead-based paint removed.
False. A renter of a property built before 1978 IS NOT given the opportunity to test or have lead-based paint removed.
What is radon?
A naturally occurring odorless, radioactive gas that creates a hazard if it is trapped and can cause lung cancer.
How can the presence of radon be fixed?
Radon levels can be lowered through mitigation by adding a ventilation system to move the gas outside.
What is carbon monoxide?
It is an odorless gas that is a byproduct of combustion.
If mold is found in a home, what is required?
Remediation or the removal of mold following the EPA and state regulations.
What other environmental issues should real estate professionals be aware of?
Underground storage tanks, groundwater pollution, brownfields (operation facilities), and waste disposal sites.
What is the purpose of the Environmental Impact Statement?
This statement describes the potential impact of a proposed project on local and regional air, wetlands, land, and environment.
Mall of America
T/F Environmental Impact Statements are not required for government projects.
False. Environmental Impact Statements ARE required for government projects and may be required for private development.
What are stigmatized properties?
Properties that may be deemed undesirable not because of physical conditions or features but because of activities that occurred.
What activities are included in a stigmatized property?
Suicide, murder, criminal activity, and HIV or AIDS.
Who determines whether undesirable property activities need to be disclosed?
States
