People who are considering a home purchase should know what they’re walking into if they do make the purchase. There are specific laws in Florida that dictate what specific disclosures a home seller has to make to a buyer.
Home sellers who don’t make the required disclosures can face serious legal penalties. Home buyers can’t make an informed decision about their purchase if they don’t have the applicable information.
Insulation material in the home
If the home is a new build, the contract for the home must include the R-value, thickness and type of insulation used unless the contract is signed prior to the insulation decisions being made. The buyer must be notified of the information via a receipt once the information is known.
Home sellers must disclose anything they know of that could have a negative effect on the home’s value. This is true even if a home is being sold as-is. Ideally, this will be done in writing so there’s no doubt about what’s been disclosed. One exception to this rule is that homeowners don’t have to tell buyers if someone died in the home, including suicides or homicides.
Radon presence in the home
A radon gas disclosure must be provided when the home contract is signed if there is a dwelling on the property. It’s possible to provide this document before the contract is signed, but there is standard verbiage on Florida Realtor sales contracts.
Other points to include
If there are any code enforcement issues, those must be disclosed to the buyer. Additionally, if the property has any endangered species on it, such as the gopher tortoise, disclosure is required.
Protecting yourself during a real estate transaction can be challenging if you try to do it alone. Working with someone familiar with the intricacies of Florida’s real estate laws is beneficial.