When buying a home, you need adequate details to make an informed decision. Florida law requires sellers to disclose all known facts that materially affect the value of residential real property and are not readily observable to the buyer. But this is not always the case.
So, what can you do when you close a home and then realize it has faulty plumbing, roof leaks, flooding risks, radon gas, termite infestation or mold?
Confirm if the defect should have been disclosed
An issue that significantly impacts a property’s worth, desirability, or poses a health/safety risk, and isn’t obvious to a buyer during a normal inspection, should be disclosed. Confirm that the defect you have discovered meets this standard.
Determine the liable party
While the seller can be the obvious liable party for an undisclosed defect, a real estate agent, a real estate broker or a home inspector can also be held responsible.
For instance, when a real estate agent makes false statements about the property’s condition or actively helps a seller to conceal a known defect. A real estate broker can be liable for the actions of their agent (vicarious liability). A broker can be directly liable if they failed to reveal known material defects.
A home inspector can be answerable when they fail to discover and report a significant defect that any competent inspector would have. For example, when they miss a crack in the foundation.
Evidence, such as written disclosures, contractor records, emails, inspection reports and past repair records, can help you show the existence of the material defect and that the respective parties knew or should have known of it.
Buying a home is typically the most expensive purchase in one’s life. If you spent money on a property that you wouldn’t have bought if a particular detail had been disclosed, it’s essential to understand your options to protect your rights.