Three Things to Consider When Selling a Florida Home
Selling your Florida home or condo is complicated. It doesn’t matter if you have outgrown a starter home or are downsizing an empty nest. The steps for selling a home are similar regardless of where you live. Florida’s real estate laws and practices, however, are, in some respects, unique. You should become familiar with the process early so you can avoid some problems later.
Here is a quick overview of the basics when selling a Florida home.
1. Working With a Florida Real Estate Agent
Most people work with a licensed real estate broker or agent to sell their Florida home. A good real estate agent will help:
- Price your house
- Market your house to prospective buyers
- Review house purchase documents
- Negotiate with buyers to close the sale
2. Signing a Listing Agreement in Florida
You will sign a “listing agreement” once you find a real estate agent. It gives your agent the right to market and handle the sale of your Florida home. There are some standard forms that most real estate agents use. Listing agreements usually cover:
- The commission, which is 5-6% of the sale price that covers both your and the buyer’s real estate agent
- The type of listing, including the possibility of exclusive right to sell listing
- The duration of the listing is set for a specific amount of time, such as 90 days
- The listing price, which your agent will recommend to you
- Items included or not included in the sale, like a refrigerator that you plan to move to your new home
- The duties and obligations of the seller and real estate agent
3. Making Real Estate Disclosures for Your Florida Home
The State law in Florida requires sellers to disclose any facts or conditions they know about their property that can impact its value. This is especially true if it is something that others cannot easily notice. You, the seller, will need to fill out a disclosure form and provide details on your Florida home, such as:
- Any specific appliances that need repair
- Defects in the electrical, plumbing, and heating and cooling systems
- Any environmental conditions, like termites or asbestos
- Structural issues, like cracks in the foundation or leaks in the roof
- Legal issues, such as deed restrictions
- Other specified information about the property
- Tax disclosure stating the property taxes may change after the purchase
- Whether the property has high levels of radon
- Affected by coastal erosion
- Regulations governing coastal property
- Part of an HOA
- Lead-based paint for homes built before 1978
You will some have additional disclosures to make if you are selling a condo, such as:
- Property management details
- Information about timeshares
- The developer’s information
To learn more about selling a Florida home, give us a call. We’ve helped hundreds of clients sell their home quickly and easily and would love to do the same for you.