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Which of the following is considered a material fact that MUST be disclosed per the Florida statutes?

1) The seller's knowledge of a leaky roof
2) The buyer's preference for a specific paint color
3) The seller's favorite restaurant in the area
4) The buyer's favorite TV show

User Turner
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1 Answer

5 votes

Final answer:

The seller's knowledge of a leaky roof is a material fact that must be disclosed as per Florida statutes because it's a significant property defect affecting valuation and buyer decision-making.

Step-by-step explanation:

The question asks which of the listed items is a material fact that must be disclosed according to Florida statutes. The answer is the seller's knowledge of a leaky roof, as this is a physical defect of the property that would likely affect the buyer's decision to purchase and the valuation of the property. Material facts like this must be disclosed in real estate transactions since they represent significant and non-obvious problems that could affect the property's desirability or value. Such disclosure requirements are designed to protect the buyer from buying a property with hidden defects, and ensure that the market operates with a degree of transparency, which is paramount in dealing with imperfect information on the part of the buyer.

User Abiel
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