Section 28 Of The Real Estate Purchase Addendum
What Is Section 28 Of The Real Estate Purchase Addendum?
Section 28 of the Real Estate Purchase Addendum, also known as the Radon Gas Disclosure, is a clause that is included in the contract of sale when buying a property. This clause requires the seller to disclose any known information about the presence of radon gas in the property.
Radon gas is a colorless, odorless, and tasteless gas that is naturally occurring in the soil. When it seeps into the property, it can pose a risk to the health of the occupants of the home. Radon gas is the second leading cause of lung cancer in the United States, and it is estimated that one in every fifteen homes in the U.S. has elevated levels of radon gas.
Why Is Section 28 Important?
Section 28 is important because it ensures that the buyer is informed about the presence of radon gas in the property before they make a purchase. If the seller fails to disclose this information, the buyer may have legal recourse if they later discover that radon gas is present in the property.
In addition, Section 28 also provides the buyer with the opportunity to conduct a radon test before finalizing the purchase of the property. If the test reveals that there are elevated levels of radon gas, the buyer can negotiate with the seller to have the gas mitigated before closing the sale.
What Happens If Radon Gas Is Found?
If radon gas is found in the property, the buyer and seller can negotiate the terms of the sale to include the cost of mitigating the gas. This typically involves installing a radon mitigation system, which can cost anywhere from $800 to $2500, depending on the size of the property and the severity of the radon levels.
If the seller refuses to mitigate the radon gas, the buyer has the option to walk away from the sale without any penalty.
How Can Buyers Protect Themselves?
If you are in the market to buy a property, it is important to work with a qualified real estate agent who can help you navigate the complexities of the purchase contract. Your agent can also recommend a reputable home inspector who can conduct a radon test as part of the home inspection process.
In addition, it is important to educate yourself about the risks of radon gas and the steps that can be taken to mitigate it. The Environmental Protection Agency (EPA) provides a wealth of information on their website about radon gas and how to protect yourself from its harmful effects.
Conclusion
Section 28 of the Real Estate Purchase Addendum is an important clause that protects buyers from the potential health risks associated with radon gas. By requiring the seller to disclose any known information about the presence of radon gas in the property, buyers can make informed decisions about whether to purchase a property and negotiate the terms of the sale accordingly.
By working with a qualified real estate agent, conducting a radon test, and educating yourself about radon gas and its risks, you can protect yourself and your family from the harmful effects of this dangerous gas.