Radongas (§404.056 (5)) – The contract of sale must be accompanied by a declaration clarifying the dangers of radon before signing the document. (Included in the sales contract.) The Florida Residential Property Purchase and Sale Agreement is a document used to describe the terms of a transaction between the seller of residential property and the buyer. The terms of the agreement will be negotiated by both parties, as well as the price. These things must be done before signing the purchase and sale contract; However, financing (if applicable for the buyer) can only be provided by a signed contract form. After the signing of the document, the contract can only be terminated if both parties agree. Florida requires, like most states, that sellers of residential properties inform potential buyers of the condition of the property, that is, problems, defects, and other defects that would affect the value of the property. Property tax (§ 689.261) – This summary must be made available to the buyer before or during the execution of the contract of sale. The declaration informs the buyer in principle that property taxes may differ in the price after the property exchange and that he should not automatically expect that the same amount will be charged to them as the previous owner. (Included in the sales contract.) Non-Developer Disclosure [§ 718.503 (2)(a)) – This disclosure applies only to the sale of condominiums and requires the seller to provide the buyer with the necessary documents describing the operation of the property/association. (The title form contains this disclosure and can be attached to the sales contract.) The Florida sales contract is intended to cover the specific terms of sale of a residential real estate transaction. As a rule, the buyer files a copy with the seller who sets the initial offer. The seller then has the opportunity to accept, refuse or propose the proposal.
In the content of the form, essential information such as the purchase price, financing specifics and any contingencies that each party wishes to include must be recorded. After the execution of the document, all participants are legally obliged to comply with the conditions described in the contract. Lead-based color disclosure (42 U.S. Code 4852(d) – This is a disclosure imposed by the Confederation that requires the seller to provide (to the buyer) all evidence of known lead paint hazards that may exist inside the land, as well as a safety guide regarding toxic material. (This is mandatory only for real estate built before 1978). Coastal Properties (§161.57) – If the property for sale is located in whole or in part upstream of the Coastal Construction Control Line, the Seller is required to provide the potential buyer with a disclosure statement expressing this information. (Check § 161.053 to see if your property is covered by this definition.) Florida Realtors + Florida BAR (FAR/BAR) – Adobe PDF Sellers Property Disclosure Forme – Under Johnson v. Davis, 480 so.2d 625, a seller of real estate is required to disclose facts that significantly affect the value or desire of the property, that are not easily observable and are not known to the buyer, the seller is required to disclose them to the buyer. . . .