Selling your Florida Keys Home?

Are you thinking about selling your Florida Keys Home?  With the market so hot a lot of sellers have been cashing in and selling thier Florida Keys Homes.

However, with the market being so fierce right now, it’s common to see lawsuits come down once the dust has settled. If you are thinking of selling your Florida Keys Home, tread carefully, because you could very well get sued.

Today we will discuss the Number one reason why Sellers in the Florida Keys get sued.

Number One Reason 

Number one reason why Seller’s get sued in the Florida Keys is due to Downstairs Enclosures.

Before we get into what downstairs enclosure are you have to understand that all of the Florida Keys are considered coastal flood plain and maybe subject to Flooding.

Flood Insurance Rate Maps

Flood Insurance Rate Maps came out in 1975. So homes built prior to that date are grandfathered in and are allowed to have living space below base flood elevation.

If a house is built after the Flood Maps were issued on December 31, 1974, its lowest floor must be higher than the base flood elevation. In other words, the floor of the house must be above the level that is likely to be flooded in the event of a flood. This is to ensure that the house is safe from potential flood damage.

What is a Downstairs Enclosure?

Enclosed spaces constructed after December 31, 1974, below ground level are only intended for limited storage purposes. Think of them as bonus space with limited access, primarily used to store items that would otherwise be kept outside or in a shed. It’s important to note that these spaces cannot be used for any other purpose due to legal restrictions.

Limited Storage

Limited storage is for items like: parking of vehicles, storage of lawn mowers, rakes, wheelbarrows and similar equipment.

Limited storage doesn’t include furniture or household items, such as personal belongings or appliances that can’t withstand exposure to the elements or water damage. These items should not be stored in enclosed spaces that are located below the base flood elevation. Such spaces are meant only for storing things like materials, stock, and tools that have low potential for flood damage. If something can’t withstand exposure to water or isn’t typically stored in a shed or outside, it’s not suitable for limited storage in these areas.

Over time, homeowners may add features like bathrooms, kitchens, bedrooms, and air conditioners to these enclosed spaces located below the base flood elevation. Essentially, they transform the limited storage areas into additional living spaces. This is when potential issues can arise because the space was not designed for regular habitation. Building codes require that these spaces be constructed differently to ensure that they are safe and habitable. When people start using these areas like a regular living space, they could be putting themselves and their property at risk in the event of a flood.

Transparency

If your a Florida keys home seller, it is critical that you be as transparent as possible when it comes to your downstairs enclosures. Your real estate agent can assist with this but make sure your buyer signs off on their understanding of downstairs enclosures.

Problems arise when buyers return to sue sellers, claiming that they were unaware that the additional room and bathroom located downstairs were not permitted, and are now compelled by the county to remove them and comply with regulations. As a result, the buyers are frustrated and unhappy about losing the extra space and bathroom, and may seek legal action against the seller for failing to disclose this information.

Florida Keys Home Sellers

Downstairs enclosure don’t have to be a scary thing for a seller. Simply make sure to disclose everything and get written acknowledgment from buyers to avoid any future issues.