Florida Legal Forms Need To Be Reviewed For Signing

Nov 24
09:24

2009

James Kahn

James Kahn

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Legal Forms for real estate vary by state. In the case of Florida, make sure you have a real estate attorney or real estate agent review your legal documents before you sign on the dotted line.

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We live in a world of legal forms,Florida Legal Forms Need To Be Reviewed For Signing Articles ever-changing laws and regulation, and disclosures. In real estate, the nature of the beast calls for the seller to fill out a form stating what he or she knows to be the condition of the various systems constituting a residential dwelling or residential land. There is no statutory law requiring the seller to do this, but there is a 1985 Florida Supreme Court case of Johnson v. Davis, in which the residential (not commercial) seller has the "duty to disclose" to the buyer any known facts about the house, or grounds that materially affect the value of the property. The court case ended the long-time era of buyer beware, in Florida.

Every Florida real estate agent and broker is aware of this court case and makes sure that their sellers are disclosing, disclosing, and disclosing. In fact, real estate professionals have the obligation to disclose conditions as well, since in 1987, the Florida Supreme Court created Raynor v. Wise, which made real estate licensees equally responsible for disclosing the property's defects if they are know, or should reasonably be known to the agent or broker. Agents are often likely to encourage their sellers to get the property inspected before putting it on the market. This protects both seller and real estate professional should an issue arise during the transaction in which there is a material defect somewhere.

If the information is disclosed in writing, the buyer or potential buyer can take that information into consideration during the decision making process. If the air conditioning, roof, doors, plumbing, all work well, the seller should note that on the Seller's Disclosure form so that those interested in more information about the property can have a correct picture regarding it. Buyers know that they can be very selective today. They know they can get practical information out of the seller or seller's agent regarding the material well-being of the home. They have a right to know, and in fact, today's world is a right-to-know society.

Sellers are encouraged to reveal, reveal, disclose, and not hide something just because the concern is that the buyer will walk away. The buyer is making an informed decision, as we all do when shopping. An informed decision is about gathering all the information, all the particulars to enable a logical, free decision. 

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