keyboard_arrow_right
ocalaflblog

Broker advises Seller and Buyer to verify all facts

Verify Property Information

Broker advises Seller and Buyer to verify all facts

Professional Advice; Broker Liability: Broker advises Seller and Buyer to verify all facts and representations that are important to them and to consult an appropriate professional for legal advice (for example, interpreting contracts, determining the effect of laws on the Property and transaction, status of title, foreign investor reporting requirements, the effect of property lying partially or totally seaward of the coastal construction control line, etc.) and for tax, property condition, environmental, and other specialized advice. Buyer acknowledges that Broker does not reside in the Property and that all representations (oral, written, or otherwise) by Broker are based on Seller representations or public records. Buyer agrees to rely solely on Seller, professional inspectors, and governmental agencies for verification of the Property condition, square footage, and facts that materially affect Property value.

 

The above paragraph is in all Florida Realtor purchase contracts and really addresses both the seller and the buyer.  It’s in the best interest of the seller to verify what is being published about their home when listed for sale.  The seller does not want their home misrepresented to the public and typing errors can occur when placed in multiple listing service.  

It’s in the best interest of the buyer to hire the appropriate professionals to verify the following on the property:

A survey can provide the properties legal description, boundary lines, easements, zoning, flood zones, utility lines, buildings, fences, ingress & egress, and encroachments. 

A home inspection can provide you the condition of the home, appliances, and mechanics.  However, a home inspection does not look inside HVAC units nor can it tell you if you have water leaks under the slab.There are separate tests for radon gas, mold, and lead paint in addition to a regular home inspection.

Test the water when there is a well on the property.   Have a professional septic company look at the septic system

An appraisal will provide the buyer an opinion of value and the gross living sq. ft. of the home.  

Use a environmental consultant if buying a large property or commercial property as there may be a hazard waste liability on the property

Protect your investment with A Title search and title insurance policy will discover recorded liens on the property, who has the right to sell the property, history of ownership, tax search, unsatisfied judgements against the property, 

Homeowner Associations –  ask questions directly to the homeowner’s association especially when it comes to pets, commercial vehicles and sheds or better yet get a copy of the current homeowner association covenants, conditions, restrictions manual and the bylaws manual. 

The bylaws govern how the HOA operates and contain the information needed to run the HOA as a business.

The CC&R are the rules of the neighborhood.

ocalaflblog

Florida Room Square Footage Is It Considered Living Sq. Ft.

Living Sq. Ft. Florida

Make sure when your looking at homes you know the true gross living sq. ft.  of the home .   You may think your buying a 1800 living sq. ft. home as advertised, but in reality your buying a 1600 sq. ft. living sq. ft. home.  Living sq. ft. as defined for the main home in Florida is all space under roof and central heat and air.  This does not apply to space where the floor drops from the main floor of the home as in a garage or lanai.

Florida rooms are  a prime example of space that gets added into the total living sq. ft. on home listings.

In order for an appraiser to add living sq. ft. for a Lanai that has been turned into a Florida Room the Florida room must meet the following criteria.

Must have glass windows

Must have central heat and air not a add-on uint

The floor must be at the same level as the house

No patio doors from main house to Sun Room

All permits must be pulled and is it recognized by county assessor as gross living sq. ft. 

If any of the above criteria are not met an appraiser cannot count the sq. ft. in the room as part of the gross living sq. ft. 

True living sq. ft. affects the value of the home and comparing other homes of like kind in making a buying decision.