Disclosure is a very important term in the world of real estate in the state of Florida. It doesn't just mean disclosing the state of your home or property in an effort to sell it. Disclosure also involves uncovering other potential issues that could affect your ability to sell the property. Today, we will discuss real estate disclosure in Florida.
The seller of every property in Florida is legally obligated to disclose any and all known facts of the property that could affect its value. The seller must tell the condition of the property, all repairs made to it, and any issues that still require attention.
If your property is part of a Homeowner's Association (HOA) or condominium association, this must also be disclosed to the buyer. The seller should disclose this information when they go to list their property with a real estate agency, not when a buyer is about to sign the papers to become the owner of the property.
A property seller must also complete a lead paint disclosure if the home was built prior to 1978. This disclosure is mandatory as a rider to the sales contract. This disclosure should be included as part of the listing process, not when the buyer sits down to sign the contract.
It is recommended that all home sellers have their property inspected prior to listing it on the market. This gets rid of that awkward conversation with a potential buyer who wants to have it inspected. When you have an inspection done prior to listing the property you will be able to fix any issues that are found ahead of time.
The home inspection prior to listing should also include mold. Mold can be difficult to find, which is why an inspection is necessary.
Real estate litigation is complicated, especially in the state of Florida. An experienced real estate lawyer can explain the law to you and help you write agreements surrounding the sale of your property.
Source: Gulf Coast Associates, Realtors, "Florida Real Estate Disclosures," accessed June 02, 2017