If you are selling a home in Florida, there are certain things that you must disclose to potential buyers. If you home was built before 1978, then you must comply with federal regulations set forth by the Residential Lead Based Paint Hazard Reduction Act of 1992.
These regulations include:
– Disclosing all known lead-based paint and hazards in the house
– Giving potential buyers a pamphlet prepared by the U.S. Environmental Protection Agency entitled Protect Your Family From Lead in Your Home.
– Including certain warning language in the contract, as well as signed statements from all parties verifying that all disclosures, including giving the pamphlet, were made. (You should contact a contract attorney or real estate attorney to assist you with this.)
– Keeping the signed acknowledgements for three years as proof of compliance
– Giving buyers the opportunity to test the housing for lead
If you fail to comply with the regulations set forth by the Residential Lead Based Paint Hazard Reduction Act, the buyer can sue you for triple the amount of damages suffered, even if the only damages suffered were the costs to repaint the house.