Real Estate (residential) quickie FAQ's

Asbestos: Current Issues for Real Estate Transactions

PACM means "presumed asbestos-containing material". This means that buildings constructed before 1/1/81 are assumed to be constructed with asbestos containing surfacing and thermal system materials (ACM) unless the materials are proven not to contain asbestos.
There are certain inspections required in California, such as pest control, however no inspection is required for asbestos for a home purchase. (Unless, of course, you're planning on opening it as a school.) There are, however, requirements for disclosure.
A word of caution: Is the buyer planning on remodeling? 
Asbestos inspections *are* required prior to demolition/renovation. Here in the San Francisco area it comes under Bay Area Air Quality Management District Regulation 11, Rule 2 , Section 303.8.
The general home inspection does not cover asbestos and nearly all general home inspection reports have disclaimers that exclude hazardous materials. 
A buyer is spending major dollars for this home purchase and making a tremendous investment. Many people want to know that they're not also buying a very expensive problem. .......and certainly want to know ahead of time what kind of cost impact might be expected.
In past years, contractors were allowed to inspect and give free estimates. California recognized the potential for conflict of interest when they formulated the regulations which require inspections and assessments to be done by Certified Asbestos Consultant's.