Texas Assoc. of REALTORs removes lead paint forms.

Originally Posted By: gromicko
This post was automatically imported from our archived forum.

TAR forms 1907, 1940 removed from TAR library

HUD recently amended its Lead-Based Paint Disclosure form that is used in the sale of HUD-owned property (TAR 1907). HUD's contractors (First Preston in Texas) are required to complete one of two lead-based-paint disclosure forms and post the appropriate form on their Web sites that contain the property's details. One form is required if the contractor has no knowledge of lead-based paint or any prior remediation. The other is required if lead-based paint is known to be present or if remediation occurred. In the past, TAR included the HUD Lead-Based Paint Disclosure form that is used in sales of HUD-owned property in the TAR library. Not all forms related to the sale of HUD-owned property were included in the TAR library.

In the last several years, HUD's contractors have automated their bidding process. Bids are submitted online and forms are downloaded off of contractors' Web sites. At the time a bid is submitted electronically, HUD's contractors are required to obtain electronic consent from the selling broker (or the buyer if no broker is involved) that any required disclosures have been provided. The selling broker is also required to electronically confirm that he gave the prospective buyer the EPA pamphlet about lead poisoning. If the bid is successful, the buyer will have to sign the contract and addendum. Brokers who sell HUD-owned properties attend a training program and must establish an account online at the contractor's Web site. Brokers must have such an account to submit offers for HUD-owned properties on behalf of their clients. The automation of the bidding process eliminates the need for TAR to include in its library the forms that apply to just HUD-owned properties.

Nick Gromicko

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