housefloodsafte

While Florida law requires the disclosure of coastal erosion, there is currently no statute requiring sellers to disclose if a property has the potential for flooding. The Florida Association of Realtors has a form to use to disclose flooding, but its use is voluntary. Why is it important to remind sellers of their legal disclosure responsibilities? Because there is a misconception among sellers (and even among some agents and brokers) that conveying a property “as is” relieves the seller of any duty to disclose known issues relating to property condition. In effect, the seller is trying to say to the buyer I’m not telling you anything about the condition of the property. It’s up to you to do your due diligence and find what you can. While this strategy may occasionally work in commercial transactions, it is contrary to Texas law when it comes to residential property—so it is a prudent measure to remind the seller of legal disclosure obligations.

house floods after sale who is responsible