Property Disclosures

If you see sawdust that can't be explained, it's probably a sawdust-like material called frass created by ______.

Carpenter ants

How does asbestos cause cancer?

Asbestos fibers decay, and the friable particles can damage the lungs when inhaled.

Your buyers love the 1891 Victorian they have under contract, but they want to get both the water and the paint tested as soon as possible. What are they testing for in both water and paint?

Lead

Which statement about lead-related health problems is true?

Lead may cause behavioral problems, learning disabilities, seizures, and, in extreme cases, death.

While walking around the exterior of a rural home she's inspecting, Juanita noticed a metal vent pipe sticking out of the ground 25 feet from the house. She documents this because it may be a sign of what potential environmental hazard?

Underground storage tank

Which one of the following scenarios describes an adverse condition that would need to be disclosed?

A hail storm damaged some shingles last year.

Which of the following wouldn't need to be disclosed by the listing agent who noticed it when selling a home?

A kitchen cabinet that was installed at a slight angle

Which of the following statements about material facts is true?

A material fact may have more or less effect on a buyer based on the buyer's needs and values.

Mike relocated for work and learned that the region in which he planned to buy a home had many old underground mines. In fact, Mike might even need to purchase mine subsidence insurance. What might a home inspector flag for Mike if there are any concerns about undermining?

A sinkhole on the property

What must sellers provide prospective buyers of homes built prior to 1978, in addition to the appropriate disclosure form?

EPA lead safety pamphlet

Justin decided to build a privacy fence around his yard. He thought the fence was along the property line, but it turns out he built it one foot inside his neighbor's property. What will an inspector document as existing on the neighboring property?

Encroachment

Basement wall cracks and leaks can be indicators of ______ problems.

Foundation

The Nicholsons just bought a mid-century modern home that will require lead paint abatement. Tom and Genna, their three-year-old daughter Grace, and Genna's mom Pat are waiting to move into the split level until the abatement is complete. Who would be at the most risk of adverse lead effects if they moved in before the abatement was finished?

Grace

Tom and Rosanne are interested in a property, but before making an offer, they want to make sure there aren't any registered sex offenders living in the neighborhood. Which statement is most accurate?

It's up to the buyer to perform due diligence and research whether sex offenders live in the area. Licensees can direct clients to the state's registry.

What hazard do mining activities, landfills, or agricultural pesticides contribute to?

Groundwater contamination

Which of the following is a common problem with roof shingles?

Discoloration or curling

The fibers of ______ are dangerous when inhaled because they can lodge in the lungs and intestines, causing cancer.

Asbestos

Which of the following could indicate a problem with the chimney flue or ventilation?

Drafts near the fireplace

Three days ago, there was a severe thunderstorm in Shirley's town. Today, there's still a large puddle of water on her property, but it doesn't appear the neighboring properties have any puddles. This could indicate a(n) ______ problem.

Drainage

Which of the following properties requires a lead disclosure?

Duplex built in 1959

Water buildup, ice damming, and a fascia damaged by moisture are common ______ issues.

Roof

In full seller disclosure states, whose responsibility is it to complete the seller disclosure form which will be reviewed by prospective buyers?

Seller

Which of the following could be a clue that a property was formerly a waste disposal site?

Soft spots, mounds, and discolored soil

Marla's excited about closing on a cute lakefront cottage. But when she reads the report from the home inspection, she learns that the chimney leaks and that there is water damage in several places. This wasn't on any of the seller's disclosures. Which of these is the best option for Marla?

Terminate the agreement and ask for a refund of her earnest money.

Your buyer Clint loves older homes and wants to make an offer on a beautiful Craftsman. He doesn't like the yellow brick and has plans to paint it a lovely Williamsburg blue. You tell him that he may not be able to change the color or, even if he can, he may have to get the color approved first. What did you see on the property disclosure form that hinted at this?

The house is in a historic preservation district.

Why would buyers want to know whether a property is currently experiencing a tax abatement?

Their taxes are likely to increase when the abatement period ends.

You're showing your buyers a house that clearly has a second-story addition. What important thing do you need to find out from the sellers?

Whether or not the addition was permitted

Jared wants to purchase property. One of the properties his agent shows him was formerly zoned for commercial use. It has a steep drop off at the back of the property, as well as some soft spots and mounds. Should his agent recommend that he have a home inspector investigate it?

Yes, these are clues that the property may have been used as a waste disposal site.