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Nov 30, 2022 · Homeowners in California may have heard that if they live in a home with asbestos-containing materials, they need to disclose that to potential buyers when the home is being sold. There are some situations where this is the case and some situations where it does not apply.
It’s important to be aware of the relevant asbestos laws with regards to rehabbing and repairing your property. I’m going to unpack what asbestos is, where it comes into play most commonly for housing providers, and how to properly handle it to limit your risk and protect your tenants.
Jul 14, 2023 · California has implemented strict regulations to protect its residents from asbestos exposure. Understanding the various local regulatory agencies involved is crucial. Here are some key agencies you need to be aware of: South Coast Air Quality Management District (SCAQMD) Rule 1403.
- Disclose Known Asbestos and Negotiate
- Decide If You Will Fix Or Abate The Asbestos
- Offer A Credit For Repairs Or Abatement
When you complete the seller’s disclosure, you typically must disclose any known asbestos in the home. State laws vary, so if you’re confused, ask your agent for help completing the disclosure. Failing to disclose could expose you to potential lawsuits — and it’s always best to be honest. But don’t lose sleep worrying that disclosing will hurt your...
Even if asbestos is present in your home, you’re not legally required to do anything about it. While you could head off any buyer concerns — or requests for repairs after the home inspection— by fixing or abating the asbestos before you list, Spaniak says, “I have never had anybody walk away from a home that had asbestos.” If in good condition, flo...
In an ideal world, you’d have abundant time to fix or abate the asbestos before selling. But if you’re selling to relocate, or because you’ve already bought another house, time may be of the essence. Or, you just don’t want to deal with the hassle. McKenna says that it’s common for buyers to ask for a credit because it’s the practical thing to do. ...
- Dena Landon
A house owner may or may not be required to disclose the presence of asbestos before a sale in California. According to Cal. Civ. Code § 1102, the seller of residential real property comprising one to four units (excluding a few exceptions) must furnish a prospective buyer with a Real Estate Transfer Disclosure Statement (TDS).
Jan 30, 2023 · Knowing the facts about buying and selling a home with asbestos will allow you to make an educated decision on whether the decision is right for you. Keep in mind that buyers don’t need to turn away from a home just because it has asbestos.
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Aug 24, 2021 · A test is likely not required in the State of California (as of August 2021) however if you are looking for peace of mind, or to act out of an abundance of caution, feel free to call us today to talk about your project in more detail.
