Posted by Bill K. (AZ) on May 23, 1999 at 16:41:33:
Leon,
Like all investments, you play if the deal is right.
I don’t know about asbestos, but Bill Bronchick’s “Lease/Option Workshop” course specifically deals with the lead issue. There is a federal pamphlet that you need to provide to your buyers regarding possible lead hazards in homes built prior to 1978. He provides you with a disclosure form and a copy of the EPA pamphlet entitled “Protect Your Family from Lead in Your Home”.
Don’t shy away from houses built prior to 1978. People are buying them all of the time. The laws on disclosure are clear and easy to follow. You should have no problem complying.
So, if the deal is right, go for it with the understanding that you have an obligation to disclose and provide certain information to your buyers.
I hope this helps.
Bill K. (AZ)