In Florida most sellers using a real estate agent provide buyers with a written seller property disclosure. Although the form is not required by law it does provide a basic set of answers to general questions a buyer should have about a property.
Questions on the seller property disclosure form include things like...
- any existing or pending legal actions, claims, special assessments, etc.
- any homeowner restrictions,
- environmental issues like any lead paint or Chinese drywall, etc.
- general topics such as water source, sewer or septic systems, equipment related questions, etc.
The last question on this form is the one I consider the most important...
When I provide the questionnaire to sellers my instructions are simple - answer all questions that are asked."Is there anything else that materially affects the value of the property? NO YES If yes, explain:......"
While buyers have a responsibility to perform due diligence a seller can't just put heir head in the sand and assume something does not exist if it should be disclosed.
Regarding the last question....
- If you think something should be disclosed then disclose it as well.
- If you were the buyer and would like to know this, disclose it as well.
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