Florida Association of Realtors’ new laws passed in the recent 2025 legislative session did not affect the Sunshine State’s required property disclosures. So, if you’re asking what sellers and buyers need to know about property disclosures, your most reliable source of current information is your Lang Realty agent.
What are real estate disclosures?
In Johnson vs. Davis, the Florida Supreme Court held that “where the seller of a home knows of facts materially affecting the value of the property which are not readily observable and are not known to the buyer, the seller is under a duty to disclose them to the buyer. Even if a home is being sold “as is,” the seller has an obligation to disclose known latent defects. In Rayner vs. Wise Realty Co. of Tallahassee, the First District Court of Appeal provided that this same disclosure requirement applies to residential properties that are being sold as is.”
What are sellers’ disclosures?
That can be informing the prospective buyer if there’s a condo or homeowners association that requires a monthly fee and their rules for residents. Or if mandatory membership requires an entry and annual fee. Or if the overall association has imposed an assessment to be paid by all property owners. A coastal property has a separate list of disclosures your expert Lang Realty agent will know. The buyer also has to be informed of the property tax and if improvements will affect the property tax cost.
Sellers do NOT by law have to disclose “a homicide, suicide, or death that occurred on a property is not a material fact that must be disclosed in a real estate transaction. (Section 689.25(1)(b), Florida Statutes).”
Does the buyer have to sign a seller disclosure?
Starting in October, 2024, Florida Statute 689.302 requires a seller to complete and provide a flood disclosure to a buyer of residential real property. This disclosure must be done at or before the time of a contract being executed, according to Florida Realtors.
