When beginning the process of buying a new home in Missouri, there are countless tasks and paperwork to complete prior to moving in. These fulfillments can range anywhere from selecting mortgage options to deciding what items to move in or to purchase. Another typical step in buying a house is arranging a proper home inspection. Yet what happens when a certified inspector approves all areas of the home, and the homeowner later discovers a hidden issue? Like most states, Missouri contains laws that require sellers to disclose any physical damage or other issues in written form, but the details concerning these issues can be complex.
Knowing every angle about a prospective residence can save time and money in the long run. When it comes to disclosing previous methamphetamine production, an article in Realty Times confirms that buyers have the legal right to know if such dangerous drugs were manufactured in a home. The article goes on to share that, even after proper clean-up, there is still the possibility of methamphetamine contamination in the home. Missouri is one of many states that requires homeowners and real estate agents to disclose prior meth contamination, as state officials typically record contaminated homes in a database for public safety.
Another recent issue in the world of real estate is that of lead paint, which the New York Times describes as a former popular type of house paint before experts deemed it toxic. The Times reports that a major culprit is the process of seller-financed deals, which ultimately place poorer families in lead-tainted homes. In states such as Maryland, Kansas and Missouri, instances of lead-contaminated homes have been the result of these seller-financed contracts. These contracts allow original homeowners freedom from liabilities of repairing homes; in turn, low-income families without the funds to make repairs are moving into potentially lead-tainted living environments.
While the chances of both meth and lead contamination depend on many factors, Missouri law requires homeowners to only sell homes that are in habitable conditions. There are a number of risks to be aware of when working with seller-financed deals, which can include but fail to disclose past methamphetamine and lead contamination.