Couple Going To Jail Over Sinkhole
This is a little bit more complicated than just not writing information on a disclosure, but it does make the larger point that disclosures are important.
A Florida couple will spend the next 20 years in jail for not disclosing that there is a sinkhole under the home they sold.
Seller disclosures need to be taken seriously. As a listing agent, I do not sit with my sellers and go through it with them. I do not want to be liable for what they do or do not disclose. But I do make it clear what they are required to do. They must answer thoroughly and honestly about things they know affect the condition of the home. There is a bottom section which asks basically...."anything else?"
Now sellers are not required to search out issues and disclose them, but if they are aware of a problem, past or present, and do not disclose it...they are legally liable. Going to jail might be an extreme, but in this case the deceit was so egregious that they will have a couple decades to reflect on what they did.
Disclose, disclose, disclose! It might cost you a buyer, but won't land you in jail, or court.
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