Legal Question in Real Estate Law in Florida
Property disclosure & limits of liability
I'm trying to sell my condo.
Future renovations or repairs may be done by the association, but the residents have not been notified. I am not sure.
Can I be sued later for inconvience of construction or special assessment?
What is the limit of liability for home sales if a problem is found?
Thank you.
2 Answers from Attorneys
Re: Property disclosure & limits of liability
1. You must disclose known defects.
2. Anything is possible. Only known assessments need be disclosed.
Re: Property disclosure & limits of liability
As long as you are honest about known defects, you should be OK. Make sure you do not sell the condo making any false statements. If the property is in bad disrepair, you may want to make sure you sell the property "as is" and limit your liability.