Obligations of Sellers in Miami

Whether you are buying or selling property, knowing the obligations of sellers in Miami is crucial. Being informed is the best way to ensure you make smart decisions about property transactions.

A skilled residential real estate attorney could help you navigate the process. Don’t go it alone – let a lawyer help you achieve your real estate goals.

Disclosing Material Defects

In a Miami property transaction, the seller has specific obligations to the potential buyer. For example, they must inform a buyer about known material defects in the property.

A material defect is a condition that substantially impacts the property’s value. Conditions that negatively affect health and safety are also material defects. Examples include:

  • Rot
  • Mold
  • Water leaks
  • Electrical problems
  • Defects in the heating or cooling systems

A seller does not need to disclose a defect that is open and obvious. An attorney could review a situation with a seller and determine whether the condition must be disclosed. If a seller has never lived in a property and has no way to know about any material defects, they must disclose this to a potential buyer.

Potential Disclosure Obligations

There are several laws that require buyers to make specific disclosures in certain circumstances. An experienced lawyer could ensure a seller in Miami is aware of when these obligations apply to a transaction.

Coastal property is subject to erosion control regulations, construction limitations, and wildlife protections. Florida Statutes §161.57 requires a seller to inform a buyer when some or all of the property is seaward of the construction control line.

When the property is a condominium or is in a community governed by a homeowners’ association, the seller must disclose these facts to the buyer. The buyer must have access to the governing documents, any restrictive covenants, assessments and fees, and other information about how the property is managed.

Exercising Due Diligence

Although a seller has a legal duty to make disclosures, the buyer cannot rely on the seller alone when determining whether to make an investment in property. Anyone purchasing property should hire a proficient attorney to arrange all necessary inspections and review relevant records.

A qualified house inspector can find indications of problems that may not have been disclosed or that the seller may not be aware of, such as termite infestations or wood rot. In some areas, an inspection by a construction engineer may be needed. A property record search at the county clerk’s office can reveal whether the seller has a clear, marketable title to the property and whether there are disputes regarding boundaries or encumbrances.

An investigation might also reveal information that the seller has no obligation to reveal, but the buyer is interested in knowing before closing a sale. For example, Miami law explicitly relieves a seller of the obligation to disclose whether someone died, was murdered, or committed suicide on a property.

Learn More About Seller Obligations in Miami – Speak With Us Today

When you have sold a property, you want to be free of any liability associated with it. Knowing the obligations of sellers in Miami and complying with them can ensure that you walk away from the sale with peace of mind.

Jacqueline A. Salcines has years of experience handling property transactions in the local area. If you are thinking of selling a real estate property, get in touch with us today.