Disclosures When Selling A Home In Florida

Certain material information must be provided to potential home buyers. According to local and state laws and statutes, this data can vary from state to state and region to region. Failure to provide this information can result in fines and other legal penalties.

The following disclosures are currently required when selling a home in Florida:

1. A property tax summary informs potential buyers of the property taxes paid by the seller on the home. The disclosure should also state that a reassessment of the property may be necessary if any significant repairs or renovations are made to the house. Those changes could cause the buyer’s property taxes to increase or decrease.
2. Information about the respective homeowners’ association should be included if the home being sold belongs to such a group. This applies to condominiums, townhomes, and other properties that are part of a homeowners’ association. Details about the association’s membership, rules, assessments, and when dues must be paid should be included.
3. If the home is a coastal property, the possibility of erosion should be disclosed. Information should be provided about whether the house may have any construction regulations. In addition, language can be included in this disclosure about any rules regarding marine turtle protection, the beach environment, and any nearby coastal protection structures that can affect the property.
4. Any home built before 1978 must disclose any lead-based paint used in the house at any time. This is a federal mandate. The real estate contract needs to include a Lead Warning Statement affirming that the seller has adhered to all requirements for lead paint notification. A pamphlet about possible lead-based paint concerns approved by the Environmental Protection Agency must also be supplied.

Not Required to Disclose

1. If a suicide, murder, or other death happened or is believed to have happened on the property being sold.
2. If a person who contracted AIDS or HIV lived in the house at any point in time.

If a potential buyer asks about these issues, the best thing to do is to be honest. Florida law doesn’t specifically say what to disclose when those areas are brought up. You don’t have to say anything if you don’t want to.

However, it’s often advised to be open about such matters. Answer those questions to the best of your knowledge, and don’t leave anything important out. Buyers could take legal action against you if it’s discovered that you omitted or failed to disclose such details.

House Defects

Defects with a house are another area of concern. Eventually, there are bound to be some issues with most homes. Home buyers in Florida shouldn’t expect every home sold in their state to be perfect. Sellers aren’t responsible for any defects in their homes that they didn’t know about.

If defects are discovered in a home that was sold, the buyer has to be able to prove that:

1. The seller didn’t inform the buyer about the problem.
2. The seller had full knowledge of the defect in question.
3. The buyer didn’t know about the problem after purchasing the home.
4. The defect wasn’t easily visible or otherwise detectable.
5. The defect significantly affects the property’s value.

Any known defects should be disclosed to interested parties, regardless of their size or severity. It’s a good idea to have this information in writing to avoid misunderstandings or disagreements. Written claims or statements are also easier to prove in a court of law than verbal claims or statements.

Disclosures must be provided if you’re selling your home with a realtor or selling your house yourself in an “as is” condition. All required disclosures listed above must be supplied to anyone interested in buying your home. This information can help buyers make an informed decision.

Standard Disclosure Form

The Florida Association of Realtors developed a standard disclosure form that can include all relevant disclosure details. It’s a separate document from the purchase agreement or other associated paperwork.

Categories include:

1. If there are structural problems with the home’s heating and/or cooling system, wiring, roof, plumbing, appliances and other items.
2. If any property border problems or disputes have been raised.
3. If fungi, termites, or other harmful insects have caused damage or infestations in the home.
4. If the house has ever been affected by court proceedings, complaints or other legal actions.
5. If faulty drywall, mold, lead, asbestos, or other environmental problems have been found in the house.
6. Have sinkholes ever been located on the property.

Florida law doesn’t mandate that all of these disclosures must be made in writing. You can make verbal claims or attestations. However, many sellers disclose this and other pertinent details in writing. This can protect the seller and make any potential claims easier to defend against in court.

You can talk to your real estate agent or attorney if you have any questions or concerns about required disclosures. They should be able to walk you through items that do and don’t need to be disclosed. If you consult an attorney, make sure you work with one with real estate law experience.

Disclosures are a necessary part of the home sale process. They can sometimes be challenging to understand and navigate, but most aren’t very complex. Disclosures list important information that can affect a home sale. Once they’re out of the way and the purchase agreement has been signed, you can look forward to selling your house. It won’t be long until you can close one chapter of your life and look forward to the next one.