Category: Real Estate Contracts

It is not uncommon to see a Florida real estate contract that is not properly signed. For instance, I often see a limited liability company or corporation signing on behalf of itself, rather than an individual member or officer of the entity signing on its behalf (e.g., ABC, LLC’s signature is signed “ABC, LLC” rather…

If you’re buying or selling Florida real property and the property is damaged by a fire during the contract period, who is responsible for the damage? Buyer or seller? Whether buyer or seller is responsible will depend on the “risk of loss” provision in the contract. But if risk of loss is not addressed in…

It is a general rule in Florida that the death of a party does not terminate a contract unless the contract was for personal services. Contracts for real estate are not personal services contract, so a death would not terminate the contract. If the buyer to a real estate contract dies prior to closing, the…

It is a general rule in Florida that the death of a party does not terminate a contract unless the contract was for personal services. Contracts for real property are not personal services contract, so a death would not terminate the contract. If a party to a Florida real estate contract dies, then the contract…

Liquidated damages are an agreed-upon amount of damages or an agreed-upon way of calculating damages that will be used if there is a breach of contract. Typically, the liquidated damages available to a seller in a real estate transaction is the buyer’s escrow deposit. Liquidated damages provisions may not be enforceable if any of the…

Rescinding a Florida real estate contract means that the contract is cancelled, and it is as if no contract existed. In law, a rescinded contract is a contract that has “no force and effect from the beginning.” Borck v. Holewinski, 459 So.2d 405, 405 (Fla. 4th DCA 1984). Mutual rescission – Buyer and seller may…

The “AS IS” Residential Contract For Sale and Purchase (the “Contract”) is the most common contract used in the state of Florida for residential real estate transactions. It was developed over many years by a joint committee of the Florida Realtors (formerly the Florida Association of Realtors) and the Florida Bar. The Contract does not…

There are standard residential real estate contracts used throughout the state of Florida. Which contract you use will largely depend on the county where the property is located. The standard contract forms used throughout the state along with the counties where they are used are as follows: Standard Residential Contract For Sale And Purchase and…

If you are selling real estate in Florida, then you may be receiving several offers at once. None of the offers may be at the price you want, so you may want to counter the offers. But can you counter more than one offer at once? The answer is yes, but it is not advisable.…

A counteroffer is a rejection and counter of the original offer. To accept a counteroffer, you must accept each term of the counteroffer in writing before the counteroffer expires. You must be very careful when accepting a counteroffer because you need to initial or sign all material terms of the counteroffer for the counteroffer to…