In Florida, is a seller of a knock-down home required to disclose known defects?
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In Florida, is a seller of a knock-down home required to disclose known defects?
The property is in Orlando, FL in Orange County. It has 2 dwellings in bad shape.
The appraisal does not cover existing mold, mildew, lead paint, termite
infestation, and the need for a new roof.
Is the seller exempt from disclosing material issues? They are selling it for
land value calling it a lot for sale with a ‘knock-down house’
The houses do not add value. They is not condemned, and can be lived in.
Thank you
Asked on May 4, 2017 under Real Estate Law, Florida
Answers:
M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If you are buying a home that is being marketed as a "knock down", then it is implicit that there are serious defects with the property. In such a situation, no further disclosure of deficiencies need be made.
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If the seller is clearly selling it "as is," to be knocked down, for land value, etc. then no, they do not have to disclose specific issues: the fact that they are selling it in this way, for that price, is sufficient disclosure that the home has little or no value and/or significant issues and that only someone willing to do a gut job or tear down should buy it.
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