Water damage can be an easy repair or a major financial expense. It can even become a health hazard (mold) if left undiscovered for a long enough period of time.
Buyers of Florida condos should also know that there are Florida laws in place that protects them from hidden defects (defects that the seller knew about or should have known about) like water leaks and other water related issues. Buyers should also know that any claim they may have not only extends to the seller but also extends to the real estate agent and their real estate broker. See, Johnson v. Davis, 480 So.2d 625 (Fla. 1985) and Florida Statute 689.261.
It is also very important to do the necessary due diligence and inspections during the diligence period and prior to closing. Obtaining the seller’s disclosure is also essential. We suggest always contacting counsel prior to the purchase of a condo.