New Seller Flood Disclosure Law Goes Into Effect in Florida

A new law supported by Florida Realtors® is now in effect that will help buyers make more informed decisions about a property and reduce the number of post-closing disputes that could occur. The new law requires the following at or before the time of a sales contract being executed.

•	A statement explaining that property insurance does not cover damage resulting from floods.
•	A seller must disclose whether they have filed a claim relating to flood damage on the property.
•	A seller must disclose whether they have received federal assistance for flood damage to the property.

A new form relating to these requirements has been created called Flood Insurance FD-1 that Realtors® can access on Form Simplicity.