Florida Real Estate Contracts: Key Clauses Buyers Must Understand

Buying a home in Florida means signing a legal contract with dozens of clauses that impact your timeline, money, and ability to walk away.

Let’s unpack the key terms Florida buyers must understand before they sign.

1. Inspection Period

This clause gives you a specific number of days (usually 15) to:

• Inspect the property
• Cancel for any reason
• Request repairs or credits

Miss this window? You could be locked in.

2. Financing Contingency

If your loan falls through, this clause protects your earnest money.

But it only applies if you meet all contract terms (apply on time, respond to lender, etc.).

Watch the deadline—usually 30 days or less.

3. Appraisal Contingency

If the home doesn’t appraise at the purchase price:

• You can cancel
• Ask the seller to reduce price
• Bring extra cash to close

Not all contracts include this by default—ask your agent to include it.

4. Closing Date

Florida contracts often allow:

• Extension by mutual agreement
• Delays for lender or title issues

But failure to close on time can result in losing your deposit.

5. AS IS Language

Many Florida contracts are AS IS by default. You still get the inspection period, but the seller does not have to make repairs.

You can cancel, but you can’t force fixes.

6. Escrow and Deposits

Your earnest money is deposited with a title company or broker.

• Deadlines matter (typically 3 business days)
• You must provide proof
• Disputes over escrow may require mediation

7. Dispute Resolution

Most Florida contracts require:

• Mediation first, then
• Arbitration or legal action

If things go south, this clause dictates how disputes are handled.

Final Thought

Your Florida real estate contract is more than paperwork—it’s your protection.

📞 Call Michael Renick at 941.400.8735 to review key contract clauses before you commit. We’ll help you move forward with confidence.

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