Lead Based Paint in the House

[Ashish Yadav]

Hi BP Community

I am in the process to buy an OOS turnkey property in Texas for rental purpose, which is 1953 built. The TK provider has provided me this addendum about Lead based paint warnings, along with the contract to sign. Since it's a turnkey provider who is selling this property, they have not given me the seller's discloser notice saying that seller has never occupied the property. I have attached a screenshot of the terms mentioned by the TK provider about Lead based paint and they are not comfortable changing the terms for me, as they say, it's their standard contract and can not be changed.  I would love to hear how serious this is? Is it a general norm for sellers to ask the buyer to waive off any right to get property inspected for lead, and waive off any right to walk away from the contract if any lead based hazard is found during inspection? Or am I reading this addendum incorrectly and it's not that serious of an issue? How big of a red flag is this? How much risk I would be taking if I still go ahead and sign the contract? 

Would appreciate any input here, as this is my first REI.

[Guy Gimenez]

Very common. In fact, in 21 years, I've never personally paid for a LBP analysis, nor have I ever had a LBP analysis performed by a buyer on any of my properties. There is likely LBP in the property under many layers of paint. As long as you don't eat the paint chips or try to sand down the sheetrock through multiple layers of paint without a ventilation device, it's not a big deal. Most of the properties I hold were all built in the 1950's.