Wisconsin Real Estate Sales Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Wisconsin Real Estate Sales Exam. Utilize flashcards and multiple choice questions with detailed explanations. Achieve success on your test!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Can a seller of target housing accept an offer without including the lead-based paint attachment?

Yes, if the buyer agrees
No, it is not permissible under the LBP disclosure law
Yes, if the property is under a certain age
No, unless explicitly stated in the offer

The correct answer is: No, it is not permissible under the LBP disclosure law

In the context of real estate transactions involving target housing, which includes homes built before 1978, the Lead-Based Paint Disclosure Rule mandates that sellers must provide a lead-based paint disclosure attachment to potential buyers. This law is designed to protect buyers and tenants from the health risks associated with lead exposure, particularly in properties where lead-based paint may still be present. When a seller accepts an offer without including this mandatory lead-based paint attachment, they are not complying with federal regulations. This omission could lead to significant legal consequences and liabilities for the seller, as it deprives the buyer of critical information regarding potential lead hazards. Therefore, under the lead-based paint disclosure law, it is prohibited to complete a sale of target housing without this essential documentation, irrespective of the buyer's wishes, the age of the property (assuming it is indeed target housing), or any stipulations in the offer. The requirement is firm and cannot be bypassed, ensuring the safety and informed decision-making of the buyer.