Buyer Be Scared

Now a day in residential real estate sales unlike commercial sales the seller of the property is required to disclose all material defects in the property to which he has knowledge. Different states vary in how stringent the disclosure requirements are and in the modern days of consumerism these have become more comprehensive. Most states have a Seller Disclosure form which is a questionnaire concerning the different components of the home, i.e. are there boundary disputes, is the property connected to public sewer, does the roof leak, have all repairs and additions been done to code and permitted? The seller signs and the buyer signs confirming it’s been received. This type of disclosure is commonly used in residential transactions but is not mandatory in Florida as it is in quite a few other states.

What is required to be disclosed can vary widely nationally . The hottest new trend is if there has ever been a methamphetamine lab because some residue from that process is toxic.In general an inspection by a reputable home inspector or a home warranty will go a long way to protect a buyer. Disclosure if there was a death in the home is a little trickier. This is not required in Florida even though many are “creeped out” if it was a violent death or a homicide. Also controversial are ghosts or paranormal activity. Again Florida is not explicit about this disclosure, so do your inspection at night at and remember even though the “buyer-beware” attitude of the 60’s is over it could now be “buyer be scared”.