Seller’s Disclosure
What is a Seller’s Disclosure
A Seller’s Disclosure is a comprehensive document listing any known issues with the property and anything that may materially affect the value of the property. A Seller’s Disclosure should include systematic, structural, electrical, plumbing, water/flooding, governmental and environmental issues. It is the responsibility of the seller to prepare it and offer it to the buyer. One would be wise to have it signed and returned although Florida law does not mandate its use or execution, better safe than sorry.
As a seller, you are in the best position to know all the details, especially those that cannot be seen with the naked eye, which may affect property conditions. Disclosing details to the buyer is the right thing to do, it’s your integrity on the line. If you don’t disclose material facts you could face legal liability down the road.
