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What do sellers need to disclose about residential property in Florida?

On Behalf of | Oct 31, 2024 | Real Estate Law |

Selling a home in Florida involves not just marketing and negotiations, but also following legal obligations regarding disclosures. Florida’s disclosure requirements aim to protect the buyer from unseen defects and help to better ensure transparency in the transaction process. Key items that sellers must disclose often include:

  • Structural issues: Any known issues with the foundation, roof, walls, and other structural components.
  • Water damage and mold: Sellers should report any existing water damage and mold, especially given Florida’s humid climate, which can exacerbate these problems.
  • Infestations: Any history of termite damage or other pest infestations should be disclosed.

Failure to disclose such information can lead to legal actions and financial liabilities for the seller.

What are the possible legal repercussions of nondisclosure?

The consequences of failing to disclose known defects can be severe, impacting both the financial and legal standing of the seller. The buyer may have the right to rescind the sale if they discover undisclosed defects or could sue for damages. These damages could include the cost of repairs. Depending on the details of the situation, the court may consider awarding the buyer punitive damages. These are in addition to the amount needed to correct the issue and serve as way to punish the seller for trying to go against the law.

For sellers in Florida, making complete and honest disclosures is not only a legal requirement but an important part of a fair real estate transaction. It protects sellers from future legal disputes and helps to better ensure that buyers are fully informed about the property they are purchasing. It is important to point out that these laws are evolving. As such, it is important for both buyer and sellers to stay current on changes when navigating the real estate market in Florida.

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