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News & Information: Risk Management Tips

Risk Management - Listing Agent Disclosure

Friday, June 01, 2012  
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»Agents have the same responsibility as sellers in informing buyers of any known defects.

In Florida, both listing agents and sellers are equally required to disclose all known defects they are aware of on a property. It is not required to be in writing but the best practice is to use the Sellers Real Property Disclosure Addendum and have both sellers and buyers sign off on it.

Risk Management Tips of the Week are provided by the ORRA Risk Management Subcommittee as a service to ORRA members. The tips are not a substitute for individual legal consultation. Tips should not be relied upon in specific situations without consulting a real estate attorney.

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