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.