4. Law Office of David Steinfeld, P.L. What do I need to know before buying a foreclosed home in Florida Caveat emptor or buyer beware does not apply to residential real estate purchases in the Sunshine State. Florida law places an affirmative duty on sellers to disclose unobservable material defects that the seller actually knows about. As a consequence, buyers have a right to rely on the seller’s representations about their home. But the particular circumstances of the transaction dictate whether a representation is material.
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