When a seller is looking to generate interest in their property, they often make concessions to move the process along. They may offer to make repairs or to upgrade appliances, to pay closing costs or homeowners' association fees or offer a home warranty. Others simply competitively price their homes. While these can help get a home sold, sellers are required to make certain disclosures as required under Florida law.
Florida requires sellers to disclose everything that they know about a property's history or condition to potential buyers. It's illegal for a seller to purposely not disclose a flaw with a property simply because it's not visible to a buyer.
The way that Florida's property disclosure laws are currently written puts owners in a place to highlight any aspects of a home that may make it less desirable or decrease its market value. Since this could include almost anything, the Florida Association of Realtors has created a checklist for things that sellers most commonly disclose.
One of the top things that sellers need to inform their buyers about their property is if there are any mechanic's liens, back property taxes, bankruptcy proceedings or any other legal claims to the property. Property boundary disputes including easements must also be disclosed.
Potential pest control issues such as an infestation of termites, something that could affect the sturdiness of a home must also be disclosed. Any growth of mold, or the presence of lead or asbestos should also. Anything that has the potential of affecting the health of the new owners should be disclosed to the buyers.
If there are any known problems with the home's heating or cooling system, its electrical wiring, roof, plumbing, foundation or any other aspects of the home that would be costly to address, then they must be disclosed.
Sellers are required to disclose if their property is located in an area that has had problems with sinkholes before and whether it's covered under a homeowners' association as well.
Resolving real estate disputes promptly is key to keeping costs low and avoiding bigger legal problems on down the line. At the same time, if a matter must be resolved in court, then having a knowledgeable Melbourne real estate litigation attorney representing your interests can affect how quickly it takes for your legal woes to get settled.