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Relevant Florida Statutes

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Real Estate Contracts

Section 37 of 45

Relevant Florida Statutes:Section 689.25, F.S.Section 760.50, F.S.In summary, sellers and licensees must disclose known material defects that affect property value, but they are not required (and are often prohibited) from disclosing certain personal or stigmatizing information.Disclosures(a) Radon Gas: You must provide a statement explaining what radon is (a radioactive gas). Note: You do NOT have to test for it; you just have to disclose that it exists in the world.(b) Energy Efficiency: You must give the buyer an information brochure about energy ratings.(c) Lead-Based Paint (The "1978" Rule): If the home was built before 1978, you MUST disclose the potential presence of lead paint.You must give the buyer a 10-day window to inspect for lead (they can waive this).(d) HOA Disclosure: If there is a mandatory HOA, you must disclose the fees and rules. If you give this to the buyer after they sign the contract, they have a 3-day right to cancel.(e) Property Tax Disclosure: You must warn the buyer: "Do not rely on the seller's current taxes. Your taxes will go up because the Save Our Homes cap will reset.”
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