Washington, DC asked in Contracts and Real Estate Law for Florida

Q: If a realtor says a home does not need flood insurance, but actually does after signing a contract, can we get out of it

Place is in Florida, both realtor and seller said flood insurance is not required, bank said it is in a flood zone, now way more money is needed for evaluation of property, realtor says we cannot get out of contract, what can be done

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1 Lawyer Answer
Jane Kim
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  • Naples, FL
  • Licensed in Florida

A: Florida does not have flood disclosure laws. Therefore, it depends what your real estate contract says and what the Seller’s Property Disclosure Form says. It covers a variety of property conditions and risks, including: structures, appliances, termites, water intrusion, flooding drainage, sinkholes, lead paint, mold, asbestos, roof condition, and zoning issues. Seller might have marked that s/he does not have knowledge or does not have information about some of these risks.

If Seller claims they did not have flood insurance in the past (maybe because they did not have a mortgage) or because the property is located high enough. You might want to enquire about an elevation survey, and if it wasn't done, get it done. If it shows the property is built high enough, you may get an exemption from flood insurance.

Good luck.

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