Florida Real Estate Disclosures
Why do Florida Real Estate Disclosures exist?
All real estate purchases have an element of risk, but there are rules and guidelines in place to help buyers learn more about property, and hopefully eliminate any surprises through various Florida Real Estate Disclosures.
Florida Real Estate Disclosures is the act of making new or secret information on a property known. While these mechanisms exist, a buyers should still ask questions, conduct thorough home inspections, and have thorough title work scrutinized, by hiring your own title company.
Mandatory Florida Real Estate Disclosures
The two mandatory Florida real estate disclosures are Lead Based Paint, and Radon Gas. Lead Based Paint disclosure is used for homes built before 1978. So if you purchase a home built before 1978 you will need to understand the Lead Based Paint precautions.
Radon Gas is found in the ground, and because our homes do not have basements Florida has a low incidence of finding Radon. Most Florida buyers do not do radon testing as part of home inspections, as is commonly done in the Northern States. However, all Florida contracts will contain written Radon disclosure, letting you know your options.
What Florida Real Estate Disclosures should be reported?
Sellers and Real Estate Agents are required to disclose anything that materially effects the value of the property. Unless you are working with the Exclusive Buyers Agents at Buyers Broker of Florida, don’t count on learning all the secrets.
These Florida Real Estate Disclosures could be anything from title issues, boundary/easement issues, zoning issues, financial issues, lawsuits, property repair issues, development issues, environmental anything that the buyer would not normally know. Although there is a requirement for disclosure, there is no requirement to disclose in writing. If you choose to work with a sellers agent, you probably will never know. If you want an agent to trust.
The Florida FAR/BAR contract contains disclosure language for Home Owners Association, Flood Zone, Permits, Mold, and Property Tax Disclosure. There are additional contract riders for disclosures like Chinese Drywall, Mold Disclosure, 55+ Community, Short Sale, and Condo’s just to name a few. To have someone solely on your side to look out for your best interest contact us.
A written sellers disclosure is one of the most common forms completed by sellers documenting the current and past property condition and any repairs. However, most of the sellers disclosures are not filled out completely (or accurately) and can contain outdated or sketchy information. Most sellers take the position of pretending not to know anything about the property they live in.
While at times the sellers disclosure can be useful to a buyer, it is not to be relied on.
What shocking things do not need to be disclosed?
This by far might be the most shocking, as no one in Florida is required to disclose the following:
- a murder
- a suicide
- death at a property
- haunted property
You can check DiedInHouse.com to find out if anyone has died in the home you want to purchase. Illness or contagious diseases are not to be disclosed.
Even if these situations are known, sellers and agents CAN keep these a secret. We believe in full disclosure and will never keep secrets from our buyer clients…
New Florida Disclosure Problems on the Horizon
Many states have implemented disclosures for homes that were used as meth labs and standards to clean up toxic meth homes. Even though these homes pose a health hazard to occupants, Florida has been slow to create any formal protocols and as of now, don’t have any requirements.
November 2014 Floridans will be voting whether to adopt medical marijuana, if this passes, then growing marijuana at property will need to be disclosed.
Buyers Broker of Florida help buyers determine items that they should be considering on a property, and educate buyers on the different Florida Real Estate Disclosures to assist in the home selection process. Contact us today with your Florida real estate questions. 407-539-1053