Denovo Realty did not disclose and issue with my home which was known only to the Realtor that worked for Denovo Realty. This non-disclosure put my family at risk and cost $3500 for us to fix something that materially affected the purchase or negotiation of the price of the home. The Broker denied any responsibility and claimed I as a buyer didn't do my due diligence. The Denovo Realtor was the only person privy to the information and did not disclose. I am sure that they are an exceptional team, but they have not rectified a mistake that was made and will not take any ownership to fix the issue.
Per Johnson vs. Davis, the Florida Supreme Court held that "where the seller of a home knows of facts materially affecting the value of the property which are not readily observable and are not known to the buyer, the seller is under a duty to disclose them to the buyer." This obligation extends to licensees and, per Section 475.278, Florida Statutes, all licensees have a legal obligation to disclose all known facts that materially affect the value of residential real property and are not readily observable to the buyer. The disclosure can be made in writing or verbally, although it is highly recommended to make the disclosure in writing in case any issue regarding disclosure pops up later. Even if a home is being sold "as is," the seller has an obligation to disclose known latent defects. In Rayner vs. Wise Realty Co. of Tallahassee, the First District Court of Appeal provided that this same disclosure requirement applies to residential properties that are being sold as is. read more