What has been your experience with LBP found?

I have no experience with LBP, but I understand that it is VERY serious and whoever purchases the property MUST have it removed or have the seller remove it before anyone moves in. If a child gets lead poisoning while living in a property(rental,etc...), the owner will be responsible for all medical bills and the cost of removing the LBP whether they knew about it or not. That is why most contracts now have a clause stating that the seller must have a lead certificate that verifies that the property is lead free.
Hope that helps!

RENinja

Right you have to sign a contract acknowledging that lead based paint is there. Here is more information: http://www.cpsc.gov/cpscpub/pubs/5054.html and http://en.wikipedia.org/wiki/Lead_paint

I know that if you're going to buy a property and fix it up and sell it for a profit, you must be an official Lead Based Paint Renovator. That is now law. You have to take an approved class to get the certificate. This allows you to be knowledgeable about working on a property built before 1978.

Also, this is not the same as abatement (removing it). You have to hire someone certified in this to remove it. (I imagine very expensive.)

You must take the proper procedures when working on a house that has lead paint. If the paint is "encapsulated" or painted over, then the lead paint dust doesn't do anything. It's the disturbing of the LBP dust and small children in the area that is the issue.

If you find LBP in a property, then you will have to disclose that you know it is there.....and then you will have issues selling the house unless abatement is done. I suggest finding this out during inspection. Also, I'm not positively sure that the specific laws in each state are the same.

It is not true that you have to have it removed. I have the certificate and what they teach you is how to properly control the dust when disturbing the area you are working on. You have to put up signs and all this stuff. You only have to test the area that you will disturb or renovate. In other words, if you are just painting a wall, you don't have to test that wall for LBP. If you're tearing out a wall....you have to test. IF you find LBP, then you have to follow the proper procedures.

I can tell you, if I know I'm going to re-do the entire kitchen and I find LBP....I'm not buying the property.

By the way, after I wrote that long post it occurred to me that you might be interested in wholesaling properties, and in that case the LBP is not really your problem. You have to sign the usual official paperwork saying you didn't live it it and don't have any knowledge about it and because the property was built before 1978 it might have lead paint in it. If you sell it to someone wanting to rehab it for a Fix N Flip, then they probably (or should) be knowledgeable about these things. It's their issue.

It's always good to go back and read the old posts. Sometimes we might
forget when rehabbing about lead base paint.
Thanks for the information.