Hoa Disclosure Issue florida

[Shane S.]

Hello Everyone

First post on bigger pockets. Thanks in advance for all of your replies. I've got a question about an hoa disclosure I was provided by a seller. What first brought me to this deal was the low monthly hoa fees, which were listed as $81 a month and $982 a year on the mls. A few days after going under contract for the 329k town home, we were provided the hoa disclosure, which stated that the hoa fees associated with this community were "$245.50 per quarter". A few days after closing we realized that that disclosure was was completely inaccurate, and that the quarterly fees were more like $745.50. Obviously we should have contacted the hoa and verified the fees before closing but unfortunately we did not. We also didn't catch it at closing via the hoa estoppel. I obviously take some responsibility for not doing due diligence but are the sellers who provided the incorrect amount on the hoa disclosure liable. After all isn't a disclosure a legal document? The seller lived in the home for over a year and there was never an increase to the hoa while he was living there, yet he still provided the disclosure that was off by $500 quarterly. That's a 2k difference per year. Any input is greatly appreciated.

[Phil B.]

That's interesting. I'd be curious to know the correct answer. My guess is you'd need to discuss that with a lawyer or at a minimum, your real estate agents broker, assuming it wasn't FSBO. I think a lot will matter upon the disclosure itself and how it was written but that would likely be for a lawyer to interpret.