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Posted on Friday, November 23rd, 2018
Selling real estate property can be one of the most daunting and nerve-racking actions that a person can perform. The risk and potential profit involved is high, so having sufficient knowledge before moving forward is key. Each state, including Florida have specific laws on what is required by a property owner to disclose when selling a property. Having the right legal representation is important in safeguarding you against any lawsuits or legal ramifications that could possibly manifest down the road.
What to Disclose
Potential problems or liabilities with the property in question must be disclosed. Florida requires homeowners to disclose these issues to potential buyers:
- Any claims, complaints or court proceedings involving the property
- If the property is subject to rules of a condominium and/or association
- Property Boundary Disputes
- If the property contains any past or current sink holes
- If the property contains any environmental hazards
-Asbestos
-Mold
-Lead
-Chinese Drywall
- Infestations and/or damage caused by termites and/or carpenter ants
- Major problems with essential aspects of the home
- Roof
- Plumbing
- Electrical
- HVAC
- Major appliances
These disclosures can be a written contract or shared verbally. But best practices suggest having it in writing for future references.
Having Legal Protection
It is paramount that you have an experienced lawyer who specializes in these types of hefty transactions to make sure the process goes through smoothly and without any legal issues. Nishad Khan P.L. is a real estate lawyer Orlando, who specializes in Florida real estate transactions and will ensure you get the best deal you possibly can!