A property disclosure statement is a required document in most states, one completed by the seller to inform the buyer of any material defects or information by law to be mentioned. endobj Seller owned property for short time Buyer has pre-existing financial interest in the property Date and amount of existing encumbrances do not make sense Chain of title includes an interested party such as realtor or appraiser Buyer and seller have similar names (if concealed non-arm's length) Owner Occupancy Purchase Transactions Many buyers will not take the risk of buying a house with unpermitted construction. seller is under a duty to disclose them to the buyer. This obligation extends to licensees and, per Section 475.278, Florida Statutes, all licensees have a legal obligation to disclose all known facts that materially affect the value of residential real p, roperty and are not readily observable to the buyer. To your knowledge, the problem is fixed. endstream
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. Additionally, Florida real estate lawyers often file Errors & Omissions claims on Real Estate Agents and Real Estate Broker insurance policies for being complicit in failing to disclose a defect or condition that is adjudged to be a material item. You should consult an experienced construction law attorney as soon as possible. I just purchased a home in July. START YOUR LISTING NOW and experience quick and seamless paperwork with Houzeo. Although states have their own requirements for seller disclosures, certain disclosures are compelled by federal law. 3700 South Tamiami Trail, Suite 200, Sarasota, FL 34239 P (941) 954-9991 F (941) 954-9992. Florida law does not mandate disclosing previous death, homicide, or suicide on the property. 4. ]]> You can also opt for a pre-inspection before listing. State laws in Florida mandate it to disclose the existence of any sinkholes on the property. You also state if your house falls in a flood hazard area, or seaward of the coastal construction line. Log in to the editor using your credentials or click Create free account to test the tool's features. Our attorney at Orsatti & Associates, P.A., provides experienced real estate, estate planning, family and business law representation. Sellers who fail to do so face legal liability. endobj Even if a home is being sold as is, the s, eller has an obligation to disclose known latent defects. As a consequence, if proper disclosures regarding the homeowner association disclosures has not been made, the sale can be voided. [CDATA[// >