Buyer s Disclosure Statement Buyer(s) name(s): Property address: LEGAL REQUIREMENTS: The Statute of Frauds requires that all contracts for the sale of real property in Florida must be in writing and signed by all parties to be enforceable. You have the right to legal counsel to review the purchase agreement and represent you prior to, and even after, entering in to any purchase agreement. EQUAL HOUSING OPPORTUNITY: Both Federal and Florida law require that all parties be treated fairly and without regard to race, color, religion, national origin, ancestry, sex, marital status, sexual orientation, presence of children, or physical or mental disability. AGENCY: Charles Rutenberg Realty Orlando, LLC, (hereinafter Broker ) will be acting as a transaction broker as defined under 475.278(2) Fla. Stat. As such, Broker will deal honestly and fairly with Buyer and/or Seller, will use skill, care and diligence in the transaction, will disclose all known facts that materially affect the value of property which are not readily observable to the buyer, and will present all offers and counteroffers in a timely manner unless directed otherwise in writing. Please be advised that other forms of agency are also available, but require a separate writing. E-SIGN LEGISLATION: The adoption of the Uniform Electronic Transactions Act under 668.50 Fla. Stat. (hereinafter UETA ) and accepted in most other states, as well as the passage of Electronic Signatures in Global and National Commerce Act (hereinafter ESIGN ) at the federal level in 2000, solidified the use of electronic records and electronic signatures in commerce. Buyer(s) understand that both UETA and ESIGN provide that electronic records and electronic signatures carry the same weight and legal effect as traditional paper documents and wet-ink or handwritten signatures. A record or signature may not be denied legal effect or enforceability solely because the record or signature is in electronic form. 668.50(7)(a) Fla. Stat. A contract may not be denied legal effect or enforceability solely because an electronic record was used in the formation of the contract. 668.50(7)(b) Fla. Stat. Some documents may be emailed to Buyer(s) and once signed they are legally binding. Page 1 of 5
HOME WARRANTY: Broker recommends that you obtain a home warranty on any property you purchase. The Buyer of the subject property has been made aware of the advantages of purchasing a home warranty. Buyer agrees to hold harmless the Selling Broker and/or its associates, and agents against any liability resulting from failure of systems and appliances. Should you elect this type of coverage, additional paperwork is required. Buyer(s) (initial one) Accept coverage Decline coverage MOLD: Molds are naturally occurring organisms that may or may not present health risks to certain individuals who are exposed to molds over time. Additional information regarding mold and mold testing may be obtained from the federal Environmental Protection Agency www.epa.gov/ the Florida Department of Environmental Protection at www.dep.state.fl.us/ or your local county or municipal public health department. RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county health department. LEAD BASED PAINT: If property was built prior to 1978 the Lead-Based Paint Disclosure is mandatory. The parties understand that exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning also poses a particular risk to pregnant women. PROFESSIONAL INSPECTIONS: It is fully understood that any known latent defects observable or non-observable must be disclosed by the Seller to the Buyer. Broker, its employees and/or agents cannot and will not render a professional opinion as to any condition of the subject property. Broker, its employees and/or agents strongly recommend to the Buyer, that in accordance with the Inspection paragraph in the Contract for Sale and Purchase, inspection(s) should be conducted by a licensed home inspector or other licensed professionals as may be applicable. Such inspections include but are not limited to: mold, radon, lead base paint, soil and percolation tests, termite, water and well analysis, as well as septic tank inspection. Such inspections shall be the sole responsibility of the Buyer and any failure to make said inspections shall be the sole responsibility of the Buyer. ENERGY-EFFICIENCY RATING DISCLOSURE: In accordance with 553.996 Fla. Stat., notice is hereby given that the Buyer of the real property with a building for occupancy located thereon, may have the buildings energy-efficiency rating determined. Buyer hereby acknowledges receipt of a copy of this Energy-Efficiency Disclosure and of that energy-efficiency rating information brochure prepared by the state of Florida, Department of Community Affairs at the time of or prior to Buyer signing the contract for sale and purchase. Page 2 of 5
CONTRACTORS, INSPECTORS & VENDORS: If the Buyer(s) request the Broker, its employees, and/or its agents to perform any task which is beyond the scope of services outlined under Chapter 475 Fla. Stat., including but not limited to the referral, recommendation or the retaining of a third party vendor to perform any service on behalf of either party, then as consideration for Broker its employees and/or agents in the performance of such task(s), notwithstanding the language under 475.278(2)(g) Fla. Stat., the Buyer(s) shall indemnify, hold harmless and release the Broker, its employees, and/or its agents from any and all liability for loss or damage, in connection with (i) the Broker, its employees and/or agents in the performance of such task(s), (ii) the Broker, its employees, and/or its agents referral, recommendation or retention of any third party vendor, (iii) all services and/or products provided by any third party vendor, unless Broker, its employees, and/or its agents agree in writing, and for valuable consideration, to accept liability for the task(s). Buyer(s) hereby assume full responsibility for selecting and compensating any third party vendors. MULTPLE LISTING SERVICE: All information provided in the multiple listing service (hereinafter MLS ) including but not limited to square footage, homeowner's association information, acreage, legal description, age lot and room sizes, zoning and mortgage status on the subject property are deemed accurate, but are not warranted by Broker, its employees, and/or its agents. It is recommended by Broker, its employees, and/or its agents that you contact the Developer, Builder or Association directly prior to entering into a contract to determine any matters that are important to you. Buyer(s) agree to indemnify, hold harmless and release the Broker, its employees, and/or its agents from any and all liability for loss or damage, in connection with any inaccurate information provided in the MLS. PROPERTY INFORMATION: The square footage, homeowner's association information, acreage, legal description, age, lot and room sizes, zoning and mortgage status on the subject property as represented by the Seller(s) are deemed accurate, but are not warranted by Broker, its employees, and/or its agents. Buyer(s) agree to indemnify, hold harmless and release the Broker, its employees, and/or its agents from any and all liability for loss or damage, pertaining to one or more of the following or above is found to be incorrect or lacking including but not limited to: building permits; schools; the title search; deed restrictions or association documents; transmittal of mortgage data; building specifications; structural and/or public tax record data. MULTIPLE OFFERS: Even though you may have entered into an authorized brokerage relationship with Broker, you understand and agree that multiple offers may be presented on the property on which you make an offer, including offers through other the Broker employees, and/or its agents who have entered into similar brokerage relationships with other prospective buyer(s). A seller is under no obligation to negotiate offers in the order received and it is at the seller(s) discretion as to which offer to accept, reject or negotiate. You should not assume that your offer has been accepted until the receipt of a purchase agreement, fully executed by both parties. ESCROWED FUNDS: As a matter of company policy, Broker does not accept funds to be placed in escrow. As such any funds received, will be returned to the sender by First Class postage with the United States Postal Service, within three (3) business days of receipt. Buyer(s) agree to indemnify, hold harmless and release the Broker, its employees, and/or its agents from any and all Page 3 of 5
liability for loss or damage, in connection with any escrowed funds misdirected to Broker, and for any delay or lapse in contract related to the return of same. MEGAN'S LAW: The Buyer(s) are hereby made aware that sexual offenders and/or predators may or may not live in the approximate area of the subject property and it is the responsibility of the parties involved, not the Broker, its employees, and/or its agents, to perform any and all due diligence into this matter prior to entering into a sales contract. Additional information regarding sexual offenders and/or predators may be obtained from the Florida Department of Law Enforcement at https://offender.fdle.state.fl.us/ or your local county or municipal law enforcement department. SCHOOL DISTRICTS: As school districts are subject to revision and final approval by the public authorities and the various school boards, it is the sole responsibility of the Buyer to verify school districts for the subject Property. Buyer agrees to indemnify, hold harmless and release the Broker, its employees, and/or its agents from any and all liability for loss or damage, with regard to the school zones or specific details of the student assignment program. CONDOMINIUMS, RESTRICTIVE COVENANTS, AND HOMEOWNER S ASSOCIATIONS: Certain neighborhoods and communities are governed by a homeowner s association of which you will become a member upon purchasing the property and taking title to same. These communities are subject to certain restrictive covenants, rules and regulations of which you will become bound. There are also various fees, and expenses that you may be required to pay as a member of these associations. The restrictive covenants, rules and regulations, could affect your use of the property. It is a part of your due diligence, to investigate whether the property is suitable for you as its use is governed by these documents. Broker strongly recommends that you contact the developer, builder, association, and/or management company directly prior to entering into a contract. Aside from these restrictive covenants, rules and regulations, an inquiry should be made as to any pending litigation, as well as any pending assessments for anticipated or pending repairs or maintenance. Buyer(s) agree to indemnify, hold harmless and release the Broker, its employees, and/or its agents from any and all liability for loss or damage, in connection with any governing documents including but not limited to; restrictive covenants, rules and regulations. You may be required to submit an application for approval by the association, and in some instances, appear for an interview. Condominium Buyer(s) have a three (3) day recession period. PROPERTY TAXES: Due to the changing values of properties, the property taxes may not be the same as they were on the date of contract. Following the transfer of real property from one owner to another, the tax figures may change. Homestead exemptions, Save our Homes rates, and other special exemptions may or may not apply to the new owner, in which case the property taxes may increase. Please be advised that you should check with the County Tax Appraiser s Office and/or Tax Collector s Office for any increases in your new property taxes. Broker, its employees and/or agents are not responsible for any tax information and/or property tax increase before or after the purchase of the property. Please consult with your local taxing authorities, tax consultant, or tax attorney of your choice on this matter. Page 4 of 5
COMMUNICATION CONSENT FORM: As a present and/or possible return customer or client of Broker, I hereby consent to receive communications from the Broker, its employees, and/or its agents. CLOSING COSTS: Upon closing the sale of Real Property, you may be required to pay additional sums (hereinafter Closing Costs. ) Your lender and closing agent will provide you the totals of such fees when known. If you entered into the contract after 03 October 2015, pursuant to the CFPB guidelines you will receive a Closing Disclosure at least three (3) business days before the closing. Questions concerning your loan rates and costs should be addressed with your mortgage lender before agreeing to the purchase of a property. Buyer acknowledges it is solely their responsibility to confirm wiring instructions with the closing agent for the transfer of funds, and to obtain a voice confirmation prior to the sending of such wire. Broker, its employees and/or agents are not liable for any miscommunication and/or incorrect instructions not verified by the Buyer. INSURANCE: Buyer acknowledges that home insurance and flood insurance rates vary. Buyer(s) must consult with the home owner s insurance company of Buyer s choice, regarding insurance and will take full responsibility for obtaining insurance realizing that rates may be subject to change in the future. GOVERNING LAW AND CHOICE OF VENUE: Florida laws shall govern any dispute arising out of or in any way relating to Buyer(s) purchase of real property or the relationship between Buyer(s) and Broker, its employees and/or agents. The venue for any litigation or other preceding involving Broker, its employees and/or agents shall be exclusively in the Ninth Judicial Circuit in and for Orange County Florida. TRANSACTION FEE: Broker charges a commission for its ongoing services associated with listing and selling real estate. In addition, there are some fixed costs, not associated with these commissions. As a result of these additional costs, there will be an additional commission of $ charged to the buyer of real estate working with Broker. This additional commission is only applied at closing. Buyer s signature: Date: Printed name: Buyer s signature: Date: Printed name: Page 5 of 5