Navigating Lead-Based Paint & Survey Importance in Property Purchase

[Bar Shalom Laniado]

Hello,

I'm in the process of purchasing a new property for a buy and hold strategy. The seller and I have already signed the contract, but now the listing agent is requesting that I sign a correction stating that my inspector is not allowed to conduct a lead-based paint test. If I were to go ahead with the test and it comes back positive, what would that mean? How can I address this issue? Would it require a major renovation? What are the consequences of having lead-based paint? Do you have any estimate of the extent of the problem?

Additionally, they have added a clause to the contract stating that I must provide the survey. What are your thoughts on conducting a survey? Is it important?

Thank you.