Florida ‘As Is’ Property Disclosure
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Florida ‘As Is’ Property Disclosure
We are selling our house
Asked on June 12, 2018 under Real Estate Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
You know about the electric: you must disclose it. A homeowner must disclose any issues known to them which are "latent" or not readily discernable by a buyer, such as wiring issues. A failure to disclose what you know is fraud, which can expose you to considerable liability--not just for the cost to remedy the issue, but potentially additionally money beyond that--if a buyer later discovers the issue and sues. Alternately, a buyer could use the issue as grounds to rescind or void the sale (undo the sale, get their money back, and make you take the home back). Disclose it, sell "as is" with that disclose, and just set the price appropriately, given that buyers will discount what they'd otherwise offer due to the electricial problems.
Disclosures must be honest and accurate to the best of your knowledge. If you don't know if there is radon or lead, disclose that the seller is unaware of any any radon or lead paint.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.