South Florida Real Estate Blog - Updates & Realty News

There was a time when Miami real estate was ruled by the phrase “buyer beware.” This meant the seller did not have to share any information about defects in the home. Today, however, more than two-thirds of all states in the U.S. require some form of seller disclosure. This means that sellers are required to share certain information with potential buyers. What do you have to share when selling your Miami real estate?

  • Lead-based paint. For all homes built before 1978, a disclosure is required. This gives the buyer 10 days to have the home inspected for lead-based paint. Some real estate brokers require this disclosure for all homes because lead-based paint is still sold in some places.
  • Material facts. Material facts are items which may affect a buyer’s decision to purchase a property. What material facts are required varies from state to state, so talk to your Miami real estate agent about the laws for your state. Material facts can include any of the following:
    • Death in the home. Some states require sellers to disclose if anyone died in the home. Buyers may be uncomfortable buying a home in which someone has died.
    • External issues. You may need to disclose issues that could affect the property, like earthquakes, zoning changes, flood zones and pollution.
    • Foundation problems. Damaged slabs and accompanying moisture problems may need to be shared with the buyers.
    • Repairs. You don’t have to disclose every repair you’ve made to your home, especially since a repair means the problem has been taken care of. However, you can let buyers know when you had a new roof put on or the air conditioner replaced.
Don’t go through the process of selling your home on your own. Call us today at 407-876-5771 for more information about what you have to disclose when selling your home.
Posted by Real Estate - Associates on October 1st, 2010 8:31 AMPost a Comment (1)
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