How to Read a Florida Real Estate Purchase Contract

Florida real estate contracts are binding legal documents—and they aren’t light reading.

Here’s a simple breakdown of what every Florida buyer should know before signing an offer.

The Most Common Form: AS IS Residential Contract

Most Florida purchases use the Florida REALTORS/Florida BAR “AS IS” Residential Contract for Sale and Purchase.

It outlines the rights and responsibilities of both buyer and seller.

Key Sections to Review

1. Purchase Price and Deposit

• Total offer amount
• Initial deposit (escrow)
• Additional deposit (if any)
• Who holds escrow (usually the title company)

2. Closing Date

• Typically 30–45 days from acceptance
• Includes deadline extensions for financing or title issues

3. Inspection Period

• Standard is 15 calendar days
• You can cancel for any reason during this window
• After the period, canceling may cost your deposit

4. Contingencies

• Financing contingency: Subject to loan approval
• Appraisal contingency: Property must appraise for contract price
• HOA/Condo review: 3 days to cancel after docs are received

5. Repairs and Credits

• AS IS = seller is not obligated to make repairs
• You can still negotiate repairs or credits based on inspections

6. Closing Costs

• Florida buyers often pay:
  • Loan costs
  • Title insurance (if negotiated)
  • Recording fees

Your agent will break down who pays for what in your offer.

7. Disclosures and Addenda

• Flood zone disclosure?
• Lead-based paint for homes built pre-1978?
• Any other special terms?

Review every addendum attached to the contract.

What to Ask Before Signing

• Are my contingencies fully included?
• What happens if I miss a deadline?
• Can I get my deposit back under specific conditions?
• Is this the right form for my situation?

Your agent and (if needed) a Florida real estate attorney can clarify.

Final Thought

Never sign what you don’t understand. The right agent helps you navigate every line.

📞 Call Michael Renick at 941.400.8735 to walk through your Florida contract and make a confident, informed offer.

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