Before you read
Test yourself first: 5 questions
Question 1 of 5
The presence of which environmental hazard is most often the subject of a required property disclosure due to its hidden, latent nature?
Answer: B. Radon is an odorless, invisible gas, making it a latent hazard commonly addressed in disclosures because buyers cannot detect it by sight.
Question 2 of 5
Under the federal Residential Lead-Based Paint Hazard Reduction Act, the lead-paint disclosure requirement applies to residential dwellings built before what year?
Answer: B. The 1978 ban on residential lead-based paint is the trigger date; sellers and lessors of target housing built before 1978 must make lead disclosures.
Question 3 of 5
A licensee shows a 1965 home and notices peeling, chipping paint on the windowsills. The licensee's best course of action is to:
Answer: C. For pre-1978 housing, the licensee must ensure proper lead-based paint disclosures, the EPA pamphlet, and the inspection opportunity are provided; concealing or downplaying hazards is improper.
Question 4 of 5
Who bears responsibility for ensuring compliance with the federal lead-based paint disclosure requirements in a transaction?
Answer: C. Both the seller (or lessor) and the real estate agent are responsible for ensuring the required lead-based paint disclosures are made; the agent must ensure the seller complies.
Question 5 of 5
Brokers must retain transaction records for:
Answer: A. States require record retention (often 3-5+ years) for contracts, trust-account records, and disclosures, subject to audit.
Keep the streak going with more questions like these, each with a full rationale.
What you need to know
Many states give buyers a statutory review window (commonly 3–10 days) with the right to cancel after receiving the documents. Material facts include underfunded reserves, upcoming assessments, and rental caps that block investor buyers. Estoppel/status letters certify the seller's paid-up dues and transfer fees. Agents should never summarize the documents ('the HOA is fine') — deliver them and let the buyer and their attorney review.
HOA Resale Disclosures: FAQs
Is HOA Resale Disclosures on the real estate exam?
Yes. Disclosures & Environmental is a scored domain on the real estate licensing exam, and this topic appears in the national portion.
Is this cheat sheet free?
Yes — every page on Cinna RE's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.
