Changes To Florida Real Estate Law In 2025
In the United States, legislatures are often quite active, passing and modifying laws that affect every possible facet of life. 2024 was a busy legislative year in Florida, with multiple different laws coming into force at any one moment. The field of real estate is seeing several changes that can affect anyone looking to buy into the state’s real estate market – it is important to be aware of changes in the law if you are interested in investing.
Greater Disclosures Required
Some of the most important changes to real estate law come in the form of requiring sellers to make more disclosures. Going forward, Florida law now requires sellers of residential property to disclose flood risks (and any past history) to a buyer before proceeding with a sale. This will make a significant difference for buyers – not only does the disclosure inform a potential buyer of any flood risks on a given property; it also explicitly explains that most homeowners’ insurance policies do not cover floods, and suggests obtaining flood-specific insurance.
Squatters’ Rights Lessened
The legislature is poised to further refine the law signed in March 2024 which effectively ended squatters’ rights in Florida. The bill streamlined the process of evicting a squatter from your property, instead of requiring the lawful property owner to go through what can be a lengthy eviction process. It also creates new criminal penalties for those who engage in behaviors related to squatting – for example, it will be a first-degree felony if one “knowingly advertise[s] the sale or rent” of a property without legal ownership.
This change will likely be particularly advantageous to those who want to be active in the Florida real estate market, but who may live elsewhere at points during the year. At common law, squatters’ rights established an ownership interest for a squatter who lived in a place for a set number of years, as long as they maintained the place appropriately. As a result, absentee landlords often found their properties occupied without permission. Not so now.
Changes To Agent Commission Structure
One other change that can affect prospective home-buyers in a positive way is a material change to how real estate agent commissions are calculated. Now, buyers looking to purchase a home must sign a separate agreement with their agent to agree on how much they will be paid, as opposed to the agent taking a standard 5 or 6 percent as a commission fee. For some, this change will be a formality; however, for others, it may be a boon, as it may lead to lower commission rates available to a home buyer.
Call A Tampa Real Estate Attorney
It is a good time to invest in the Florida housing market, but it is never a good idea to do it without learning what modifications have been made to the market as a whole. A Tampa real estate attorney from the Seward Law Office can help answer any questions you may have about the process. Contact our office today to schedule an initial consultation.
Source:
laws.flrules.org/2024/215
