Unit 4: Environmental Issues Disclosures

Question 1

What do most environmental issues fall under?

Answer 1

Environmental Protection Agency (EPA)

Question 2

A seller tells the agent they have fixed the lead based paint in their home. What does the agent still need to do?

Answer 2

Even though the seller believes it has been cured or removed, the agent still needs to disclose any suspected environmental issue.

Question 3

T/F Environmental issues are not considered material fact.

Answer 3

False. Environmental issues ARE considered material facts and MUST be disclosed.

Question 4

What is asbestos?

Answer 4

A mineral used in buildings that can cause respiratory disease.

Question 5

When was asbestos used in building materials?

Answer 5

Asbestos was used in a variety of building materials (pipes, wall insulation, flooring, and siding) before 1978

Question 6

Which is the best way to remove asbestos?

Answer 6

Encapsulating the asbestos (sealing into place).

Question 7

What state is asbestos the most dangerous?

Answer 7

Asbestos is only harmful if the fibers are friable (broken and potentially airborne).

Question 8

What should happen to asbestos if a building is being demolished or renovated?

Answer 8

Abatement (removal) done by a licensed professional before demolition.

Question 9

Why is lead dangerous?

Answer 9

Elevated levels of lead can cause serious and potentially fatal neurological damage.

Question 10

What does federal law require sellers of housing built before January 1, 1978 to do?

Answer 10

Sellers, even if a real estate agent is not involved, need to provide buyers with a disclosure.

Question 11

How many days do buyers have to get a home tested for lead?

Answer 11

10 days

Question 12

T/F Buyers can terminate an offer during the 10 day lead inspection window.

Answer 12

True

Question 13

T/F Sellers are required to do an inspection or an abatement.

Answer 13

False. Sellers are NOT required to do an inspection or an abatment.

Question 14

What responsibilities does the broker have in terms of lead-based paint disclosures?

Answer 14

The broker must sign the disclosure and make sure that all parties are in compliance.

Question 15

In properties built before 1978, what are property managers and landlords obligated to give their renters?

Answer 15

Lead-based paint disclosures and EPA pamphlets.

Question 16

T/F A renter of a property built before 1978 is given the opportunity to test or have lead-based paint removed.

Answer 16

False. A renter of a property built before 1978 IS NOT given the opportunity to test or have lead-based paint removed.

Question 17

What is radon?

Answer 17

A naturally occurring odorless, radioactive gas that creates a hazard if it is trapped and can cause lung cancer.

Question 18

How can the presence of radon be fixed?

Answer 18

Radon levels can be lowered through mitigation by adding a ventilation system to move the gas outside.

Question 19

What is carbon monoxide?

Answer 19

It is an odorless gas that is a byproduct of combustion.

Question 20

If mold is found in a home, what is required?

Answer 20

Remediation or the removal of mold following the EPA and state regulations.

Question 21

What other environmental issues should real estate professionals be aware of?

Answer 21

Underground storage tanks, groundwater pollution, brownfields (operation facilities), and waste disposal sites.

Question 22

What is the purpose of the Environmental Impact Statement?

Answer 22

This statement describes the potential impact of a proposed project on local and regional air, wetlands, land, and environment.

Mall of America

Question 23

T/F Environmental Impact Statements are not required for government projects.

Answer 23

False. Environmental Impact Statements ARE required for government projects and may be required for private development.

Question 24

What are stigmatized properties?

Answer 24

Properties that may be deemed undesirable not because of physical conditions or features but because of activities that occurred.

Question 25

What activities are included in a stigmatized property?

Answer 25

Suicide, murder, criminal activity, and HIV or AIDS.

Question 26

Who determines whether undesirable property activities need to be disclosed?

Answer 26

States