Selling your Florida home involves navigating unique real estate laws. Whether you're downsizing or moving up, it's a complex process with legal implications. Despite similarities in selling steps, Florida's real estate practices have their own nuances.
Sell Your Home in Florida
Whether you are downsizing and empty nest or you’ve outgrown a starter home, selling your house or condo is complicated and has legal ramifications. Although the steps involved in selling a home are similar regardless of where you live, Florida’s real estate laws and practices are unique in some respects.
Becoming familiar with the process early will help you avoid problems later. Here’s an overview of the basics – from working with us to making legally-required disclosures to closing the deal.
It is always advisable to work with a licensed real estate broker or agent. We will help price your house or condo, based on comparative market analysis, effectively market your house or condo to prospective buyers. Negotiating with buyers is a key ingredient.
When you are ready to sell, you sign a “Listing Agreement” giving us the right to market and handle the sale of your house or condo.
A Listing Agreement usually covers the following:
The real estate broker/agent commission that you the seller will pay. This typically ranges from 6 to 7% of the house or condo sales price, and is split between us and the buyers broker/agent if there is one.
The type of listing, commonly used in Florida is the exclusive right to sell listing, which you sign. Which also obligates you to pay the commission regardless of who brings the buyer. Other arrangement are possible.
Duration of listing. In all cases, the listing agreement will cover a set amount of time, such as 6 months.
Listing price, your broker/agent will recommend the appropriate price based on the comparing prices of similar homes or condos. We use our experience and data found in a Multiple Listing Service (MLS).
Items included or not included in the sale.
Duties and obligations of you the seller and us. Your agreement will spell out how we will list or market your house or condo, what type of insurance you must maintain on the property, and what disclosures you must make.
Making Real Estate Disclosures in Florida State Law (Johnson v. Davis, 480 So 2d 625 (Fla.1985)) requires sellers to disclose any facts or conditions about their property that have a substantial impact on the value of the property and that others cannot easily observe. To aid you the seller in making all required disclosures, we will help in this process, this disclosure form includes details on the property, including:
Contents such as specific appliances, and whether or not they need repair.
Defects in the electrical and other house systems.
Conditions such as termites or asbestos, and
Homeowners’ association fees, deed restrictions, and other specific details of the property.
In addition, if your house was built before 1978, you must comply with Federal Title X disclosures regarding lead-based paint or hazards.
Working with a Lawyer: Unlike some states, Florida does not require that sellers involve a lawyer in the house or condo selling transaction. Even if it’s not required, you may decide to engage a lawyer at some point in the process.
It’s up to you. ‘