The law in Florida puts some requirements on a homeowner to give you certain information about the property before you buy. These are disclosures. A seller must obey the law when it comes to telling you about issues and other important information about the property. If you buy the home and later discover that the seller did not disclose everything, you may have the law on your side to make things right.
The Florida Realtors website explains that the general rule for disclosure is that the seller must report anything that he or she knows about. So, if there is an issue of which the seller was not aware, it is not a liability for her or him to not disclose it. In most cases, for serious issues, the seller should know about them.
Common disclosures
There are several disclosures a seller must make about a property’s safety. One of those is reporting to you about the presence of radon. Any serious structural issues or other construction issues are also items that the seller should tell you about. The state also has a requirement to disclose information about insulation. If there are any pending actions for code violations on the property, the seller must let you know that as well.
As-is
Even if you buy a property in an as-is state, the seller must still make disclosures. Selling a property as-is does not mean that the seller can avoid making disclosures required by law or avoid issues if he or she does not make those disclosures. Buying as-is simply means that the seller is not going to make any repairs or updates to the home if there are issues present.
Disclosures exist to protect both the seller and the buyer. Any defects that the seller knows about are items you should know about before you buy. It keeps the real estate transaction fair and ensures that you know exactly what you are buying.