Do you understand what a seller must legally disclose, or not, when you’re buying a house in south Florida? Every buyer needs to know to protect themselves before closing on a residential property.
What exactly is a property disclosure?
Florida law requires “all known facts that materially affect the value of residential real property which are not readily observable to the buyer,” according to the statute. That’s the case, even if you’re buying a residential property “as is.”
What is a disclosure checklist?
It should include what the seller has to legally disclose, like the presence of radon gas, a pending code enforcement action or insulation in each part of the house. Know what the seller doesn’t have to disclose, too, for instance if there was a death on the property.
Here’s a link to a thorough list of what the law covers and doesn’t from FloridaRealtors: Florida Disclosure Laws
The law allows for verbal disclosures. But your Lang Realty Florida real estate agent will advise you to get disclosure requirements in writing to avoid any disagreements after you’re closed on a residential property.
