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Lead Base Paint Requirements

Fairway Clarifies Lead Based Paint Requirements for All Agencies

To clarify how best to comply with the agency guidelines in regard to lead based paint, we have put together the following direction and placed it within the Fairway guidelines:

For homes built prior to 1978:

  • If the appraiser and/or other file documentation does not mention lead based paint
    • no action is necessary
  • If the appraiser and/or other file documentation suggests lead based paint may be present
    • An inspection by an EPA Certified Inspector (Contractor) may be provided to evidence the paint is not lead based. A copy of the Inspector's certification and invoice is required.
  • If the inspection determines lead based paint exists, 
    • the homeowner or seller may repair the defective paint provided a Lead Based Paint Certification is completed; or
    • abatement will be required by a EPA Certified Contractor.  A copy of the Contractor's certification and invoice is required.
    • If the buyer or current homeowner elects to not perform an inspection, presence of lead based paint will be assumed and
      • the homeowner or seller may repair the defective paint provided a Lead Based Paint Certification is completed; or
      • abatement will be required by a EPA Certified Contractor.  A copy of the Contractor's certification and invoice is required.
  • On VA loans Only: The completion of all repairs involving defective lead-based paint must be certified by the VA-assigned appraiser. The same guidelines above are required for VA loans as well.   Please see full VA guidelines below and update as needed.
    • If the buyer or current homeowner elects to not perform an inspection, presence of lead based paint will be assumed and
    • the homeowner or seller may repair the defective paint provided a Lead Based Paint Certification is completed; or
    • abatement will be required by a EPA Certified Contractor.  A copy of the Contractor's certification and invoice is required.

VA guidelines: Properties prior to 1978 (in addition to above) relisted below.

If the dwelling or related improvements were built before 1978, the presence of lead-based paint must be presumed. 

  • Any defective lead-based paint is a safety hazard that must be remediated according to the requirements outlined above.
  • The appraiser must clearly identify the location of any defective paint.
  • Note: Economic feasibility is not an acceptable reason for waiver of a repair involving lead-based paint.
    • If the appraiser and/or other file documentation does not mention lead based paint
      • no action is necessary
  • If the appraiser and/or other file documentation suggests lead based paint may be present
    • An inspection by an EPA Certified Inspector (Contractor) may be provided to evidence the paint is not lead based. A copy of the Inspector's certification and invoice is required.
  • If the inspection determines lead based paint exists, 
    • the homeowner or seller may repair the defective paint provided a Lead Based Paint Certification is completed; or
    • abatement will be required by a EPA Certified Contractor.  A copy of the Contractor's certification and invoice is required.
    • If the buyer or current homeowner elects to not perform an inspection, presence of lead based paint will be assumed and
      • the homeowner or seller may repair the defective paint provided a Lead Based Paint Certification is completed; or
      • abatement will be required by a EPA Certified Contractor.  A copy of the Contractor's certification and invoice is required.

 Please contact your Regional Account Manager should you have any questions related to this Client Announcement.

 

10/21/19