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Jackie Colson-Miller

Jackie Colson-Miller
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Toni Everett Company
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Tampa, FL 33611
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'Disclosure'

        

The “Seller’s Disclosure”…a Critical Piece in the Florida Real Estate Contract…Tampa Real Estate News

Filed under: Disclosure, First-Time Homebuyers, Tampa Real Estate

This week, I have had two separate instances that involved Failure to Disclose issues that surfaced after a closing took place, so its the perfect topic today to educate anyone buying a home in Tampa, selling a home in Tampa or anyone contemplating a home purchase in the State of Florida.

The Florida Real Estate contract requires the seller to disclose any facts which materially affect the property . There is a lengthy form regarding all issues related to the property that a seller fills out , when a home is listed, known as the Sellers Disclosure . Since the contract states that the seller warrants that everything about the property is in working condition , filling out the sellers disclosure Tampahomefaucetproperly is a critical issue. It also requires all utilities to be on for the home inspection. Many sellers live with things their home that dont really work anymore, or they havent used them since they owned the property. For instance, a home may have a fireplace that hasnt been used by the current owner. Or, there may be a security system that has never been used. All of these things should be disclosed on the Seller’s Disclosure , along with the Mold Addendum. A savvy listing agent will review the Sellers answers on the disclosure, to ensure the questions have been answered properly. The seller can say I have never used the fireplace and it is not a warranted item. , or Two zones in the sprinkler system are not currently operating . Simple. Full disclosure.

Too often, sellers either forget about a non-working item, or they hope that the issue may not be discovered by a home inspector, or their listing agent does not quiz them thoroughly about any non-working items. Bad Idea. Throughout the listing period, the disclosure may need to be “updated” with new information about any thing that may have changed, i.e. a new roof, new A/C, flooding, etc.

The two issues I encountered recently are worth discussing because they are VERY different examples of a sellers Failure to Disclose .

Case #1: A spa heater was found to be non-functioning during a home inspection. The spa was apparentlygas heated . The sellers disclosure indicated there were no issues with the pool, or spa. It also indicated that the sellers had occupied the home, which is VERY important. If a seller had NOT occupied the home, they would not necessarily have knowledge of any non-working items. In this case, they had purchased it 3 years prior, but it was now vacant. Repair of the spa heater was listed on the items which needed repair, along with a number of other items. The listing agent sent an email stating that all repairs had been completed. The Contractor who made the repairs provided an invoice which stated the breaker needed to be on for the spa heater to operate and the spa blower is operating normally. A VA appraiser had checked the repairs and there was also a written invoice of verification of repairs. The repairs were triple-checked .

Once the buyers moved into the home, it was discovered: 1: the spa heater was still not working, 2: there was NO GAS TANK (it had been removed after the previous owners cancelled their service) 3: without gas at the time of the home inspection, the spa heater could NEVER have been tested, nor could it be operable. The Sellers failed to disclose 1. there was no gas service for the spa 2. there were any issues with the spa AND they are guilty of Breach of Contract by failing to provide gas for the home inspection. None of these things were readily observable to the buyers, or the home inspector, but they were all facts which materially affect the property. The home had a general home inspection, radon inspection and mold inspection! Buyers are expecting to be reimbursed by the Seller for the spa heater repair and the installation of a new underground tank. All of this could have been avoided if the Seller had simply stated the lack of a gas tank and the unknown condition of the spa, since they had apparently never used it and should have stated that is was not a warranted item. Oh, these sellers also failed to disclose they had a mitigation fan due to the presence of radon. The radon inspector is the one who alerted us to THAT little tidbit, when the radon levels were slightly elevated, and the radon company had a record of a previous installation of a fan at that address. I always recommend a radon inspection in the Eastern part of the county, due to phosphate in the soil, but over 80% of homes in the area go uninspected. Why? Uninformed agents and buyers.

Case #2: First time homebuyers purchase a home without representation, through the listing agent. The home had apparently had an addition done without permits. The buyers never received, nor did they sign, a sellers disclosure. They have now incurred substantial costs related to obtaining the proper permits, since the latest version of the Florida contract(not the one THEY signed) requires seller verification that all work was done with permits, and they have passed the final inspection. I was contacted by them through the Real Estate Sizzle, to get some advice, so I referred them to the listing broker, as well as a Real Estate Attorney.

Hopefully, a good paper trail and the obvious “failure to disclose” in each case ,will result in a positive outcome for the buyers, but an accurately filled-out “Seller’s Disclosure” could have avoided a lot of hassles for all parties…AND… …HONESTY IS ALWAYS THE BEST POLICY.

Selling a Home in Tampa? When in doubtOVERDISCLOSE! Buying a Home in Tampa? Read the Sellers Disclosure thoroughly and get written verification of any, and all, repairs. And, never buy a home, especially a “For Sale By Owner”, in Tampa, or anywhere, without the help of an EXPERIENCED agent who can properly advise YOU through every step of the homebuying process. Need help with your Real Estate needs in Tampa? Contact me today!

Posted by Jackie Colson-Miller   |   3 Comments »   |   01.24.2008

Haunted Houses…What Should An Agent Disclose?

Filed under: Buyers, Disclosure, Florida Real Estate, Florida Real Estate Law, Real Estate News

In Florida, Realtors are required to disclose anything that materially affects the property . When I list a home in Tampa, I ask Sellers to complete, and sign, a very thorough questionnaire about everything from survey and drainage issues, plumbing, electrical, roof, zoningeverything material to the property. Realtors are not required to ask about things like burglaries, crime in the neighborhood, or sexual predators in the neighborhood. That information is available through various websites and local law enforcement agencies.

What about disclosing a death on the property? A Murder? A Suicide? Or, a lingering spirit? Does it make a difference if it is an evil spirit, or a friendly ghost? How many people would knowingly buy, or rent, a haunted house?

I lived in a haunted house when I was a senior in college. Needless to say, my landlord did not disclose that to me, or my roommates, Hauntedhousethough it was well-documented by the previous tenants, who couldnt wait to tease us about the ghost, not long after we moved in! Footsteps on the stairs, doors that opened by themselvesplenty of things that went bump in the night! I think even the police knew the house was haunted, because after three visits to find the burglar , they stopped responding! One day, our furnace broke down, and the repairman asked me, How are you getting along with Mrs. Walsh? Give me the story, I insisted. As it turns out, the landlords mother had died in the house and vowed that she would never leave! Shes still here , I said.

From then on, we got along just fine with Mrs. Walsh. We talked to her, told her to stop scaring us from time to time, and one day, she scared off a real burglar and prevented a break-in. While its nice to reminisce about the experience, the real issue is about disclosure!

Sometimes what is required by law , and what is the right thing to do , are two separate issues. When in doubt, always do the right thing, for the buyer, or the tenant. Disclose the haunted house issueand be nice to the ghost!

Searching for a house in Tampa? Would you live in a Haunted House???

Posted by Jackie Colson-Miller   |   8 Comments »   |   10.31.2007