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Disclosures needed when selling your home

On Behalf of | Jul 12, 2018 | Real Estate Disputes |

Are you getting ready to list your home on the market in Fort Lauderdale, Florida? You likely have heard that there are some items that you need to disclose to potential buyers when making the sale. These disclosures are very important and shouldn’t be skipped over or else you might find yourself in the middle of a real estate dispute.

In most cases, the owner of a property only has to disclose issues of which he or she is aware aware. They don’t necessarily need to seek issues that could be hidden or not known without doing an intensive inspection of the home but it all depends on the type of issue. For example, you might be required to inspect for foundation issues, termite infestations, asbestos, mold and other problems.

Disclosure laws regarding the sale of residential property do not require property owners to make any fixes to issues with the home. The laws only require the owner to disclose the issues to the potential buyer. The two parties can come to their own agreement as to how the issues will be fixed, if at all, before closing on the home.

The buyer must be given 10 days to test the home for lead if it was constructed before 1978, according to the Lead-Based Paint Hazard Reduction Act of 1992. You will also be required to obtain documents signed by all parties involved in the transaction that say there was compliance regarding the laws governing lead paint.

Now that you know what it is you have to disclose to potential buyers, you should do your best to get your ducks in a row before putting the house on the market. This will help you avoid real estate disputes in Florida and help you when drafting real estate documents.