Updated over 16 years ago on . Most recent reply
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
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Lead based paint testing on HUD properties
#3 Real Estate Deal Analysis & Advice Contributor
- Rental Property Investor
- Mercer Island, WA
I've noticed that recent listings from HUD now include an extensive lead based testing report, along with an estimate to remediate it. Their remediation must be something pretty significant, since it runs at least a dollar per square foot for the area to be remediated, much more in some cases.
The recommendations mention:
recommends stabilizing (using interim control paint stabilization techniques identified for HUD-owned single family dwellings in 24 CFR Part 35 as amended June 21, 2004) the following components utilizing “Lead Safe Work Practices†as outlined in The Lead Safe Housing 24 CFR Part 35 as amended June 21, 2004.
Anyone ran into this? Does it mean you're going to have to complete the remediation per their specifications in order to sell or lease the property?