➢

Fill in Your Florida Commercial Contract Form

The Florida Commercial Contract form serves as a legally binding agreement between a buyer and a seller regarding the sale of commercial real estate in Florida. This document outlines essential details such as the parties involved, property description, purchase price, and terms of the sale. Understanding the components of this contract is crucial for both buyers and sellers to ensure a smooth transaction.

To fill out the Florida Commercial Contract form, click the button below.

Modify Florida Commercial Contract Now

Fill in Your Florida Commercial Contract Form

Article Map

The Florida Commercial Contract form is a crucial document for real estate transactions in the state, outlining the terms and conditions agreed upon by the buyer and seller. This form begins by identifying the parties involved and the property being sold, including its legal description and any personal property included in the sale. It specifies the purchase price, deposit amounts, and the timeline for acceptance of the offer, ensuring that both parties are clear about their commitments. The contract also addresses critical aspects such as the closing date and location, financing details, and the condition of the property at the time of sale. Furthermore, it outlines the responsibilities of both the buyer and seller regarding title transfer, property inspections, and any necessary repairs. Provisions for handling potential defaults and escrow arrangements are included to protect the interests of both parties. Overall, this form serves as a comprehensive framework for commercial real estate transactions in Florida, facilitating a clear understanding between buyers and sellers throughout the process.

⇓ Florida Commercial Contract File

Documents used along the form

The Florida Commercial Contract form is often accompanied by several other important documents that help facilitate the sale and transfer of property. Each of these documents plays a unique role in ensuring that both buyers and sellers are protected and informed throughout the process. Below is a brief overview of five commonly used documents in conjunction with the Florida Commercial Contract form.

Title Insurance Commitment: This document provides assurance to the buyer that the seller has clear title to the property. It outlines any liens, encumbrances, or other issues that may affect ownership. The buyer typically receives this commitment before closing to review any potential title defects.
Closing Statement: This document details all financial transactions that occur during the closing process. It outlines the purchase price, deposits, fees, and any adjustments. Both parties review this statement to ensure all costs are accounted for before finalizing the sale.
Escrow Agreement: This agreement outlines the responsibilities of the escrow agent who holds funds and documents until the closing conditions are met. It ensures that neither party has access to the funds until all obligations are fulfilled, providing security for both the buyer and seller.
Property Disclosure Statement: This document requires the seller to disclose any known issues or defects with the property. It helps protect the buyer by ensuring they are aware of any potential problems before the sale is completed.
Lease Agreements (if applicable): If the property being sold has existing tenants, lease agreements may be included. These documents outline the terms of the leases, including rental amounts and duration. They help the buyer understand their rights and obligations regarding current tenants.

Understanding these documents is crucial for anyone involved in a commercial real estate transaction in Florida. Each serves to clarify responsibilities and protect the interests of both parties, ultimately contributing to a smoother transaction process.

Similar forms

The Florida Commercial Contract form shares similarities with the Residential Purchase Agreement. Both documents outline the terms and conditions for the sale of property. They include essential details like the parties involved, purchase price, and conditions for closing. While the Residential Purchase Agreement focuses on residential properties, the Commercial Contract specifically addresses commercial real estate transactions, which may involve different considerations and regulations.

Another similar document is the Lease Agreement. This agreement outlines the terms under which a tenant can occupy a property. Like the Commercial Contract, it specifies the parties involved, the property in question, and payment terms. However, the Lease Agreement typically covers rental terms rather than a sale, focusing on duration, rent payments, and responsibilities for maintenance.

The Option to Purchase Agreement is also comparable. This document gives a potential buyer the right to purchase a property at a later date, under specified conditions. Similar to the Commercial Contract, it includes details about the parties, property, and purchase price. However, the Option to Purchase Agreement is more about granting a right rather than completing a transaction immediately.

Another related document is the Commercial Lease with Option to Purchase. This combines elements of both leasing and purchasing. It allows a tenant to lease a property with the option to buy it later. The terms of the lease and the potential purchase are clearly defined, much like in the Commercial Contract, but with an emphasis on the leasing aspect.

The Purchase and Sale Agreement is another document that resembles the Florida Commercial Contract. This agreement is used for the sale of any type of real estate, including commercial properties. It outlines the purchase price, contingencies, and obligations of both parties. While similar in structure, the Purchase and Sale Agreement can apply to a broader range of properties beyond just commercial real estate.

The Joint Venture Agreement also shares some similarities. This document is often used when two or more parties collaborate on a real estate project. Like the Commercial Contract, it details the roles, responsibilities, and financial contributions of each party. However, the Joint Venture Agreement focuses more on the partnership aspect of a project rather than the sale of a specific property.

Lastly, the Real Estate Development Agreement is comparable as well. This document outlines the terms for developing a property, including financing, timelines, and responsibilities. It often includes terms similar to those found in the Commercial Contract, such as purchase price and closing conditions, but it focuses more on the development process rather than just the sale of the property.

Obtain Answers on Florida Commercial Contract

What is the Florida Commercial Contract form?
The Florida Commercial Contract form is a standardized agreement used in the sale of commercial real estate in Florida. It outlines the terms and conditions under which a buyer agrees to purchase a property from a seller. This form is designed to protect the interests of both parties and ensure a clear understanding of their obligations.
Who are the parties involved in the contract?
The contract involves two main parties: the Buyer and the Seller. The Buyer agrees to purchase the property, while the Seller agrees to sell it. Each party's details, including their names and contact information, are specified in the contract.
What details about the property are included?
The contract requires specific information about the property being sold. This includes the street address, legal description, and any personal property included in the sale. It's essential for both parties to ensure that this information is accurate to avoid any disputes later.
How is the purchase price structured?
The purchase price section details the total amount the Buyer agrees to pay for the property. It includes information about deposits, any additional payments, and how these amounts will be credited at closing. It’s crucial for both parties to understand how the payment process works to avoid confusion.
What is the timeline for acceptance of the offer?
The contract specifies a timeline for acceptance. If the Seller does not sign and return the contract by a certain date, the offer may be withdrawn. Additionally, if there are any counteroffers, the Buyer has a limited time to respond. Understanding these timelines helps keep the transaction moving smoothly.
What happens during the closing process?
The closing process involves transferring ownership of the property from the Seller to the Buyer. The contract outlines the closing date, location, and the documents required. Both parties should be prepared to fulfill their obligations, such as providing necessary documents and making payments, to ensure a successful closing.
What are the financing requirements for the Buyer?
The contract includes a section on financing, where the Buyer must apply for third-party financing within a specified time frame. This section outlines the maximum loan amount, interest rates, and other terms. Buyers should be aware of these requirements to secure the necessary funds for their purchase.
What are the rights and responsibilities regarding property condition?
The contract states that the Seller will deliver the property in its current "as is" condition, except for ordinary wear and tear. Buyers have the option to conduct inspections during a due diligence period. This allows them to assess the property’s condition and decide whether to proceed with the purchase or negotiate repairs.
What happens if either party defaults on the contract?
If either party fails to meet their obligations, the contract outlines the consequences. For instance, if the Seller defaults, the Buyer may receive a refund of their deposit or seek specific performance. Conversely, if the Buyer defaults, the Seller may retain the deposit as liquidated damages. Understanding these terms helps both parties manage their risks effectively.

Other PDF Forms

Family Law Financial Affidavit Short Form Florida - Completing the affidavit accurately can expedite court processes.

Form R405-2020 - The guidelines set forth aim to enhance energy conservation methods in residential settings.

Document Preview

COMMERCIAL CONTRACT

FLORIDA ASSOCIATION OF REALTORS®

1* 1. PARTIES AND PROPERTY: _____________________________________________________________________________(“Buyer”)

2* agrees to buy and _______________________________________________________________________________________ (“Seller”)

3* agrees to sell the property described as: Street Address: ______________________________________________________________

4* _______________________________________________________________________________________________________________

5* Legal Description: _____________________________________________________________________________________________

6* _______________________________________________________________________________________________________________

7* and the following Personal Property: ________________________________________________________________________________

8* _______________________________________________________________________________________________________________

9(all collectively referred to as the “Property”) on the terms and conditions set forth below.

10* 2. PURCHASE PRICE:		$ ________________________
11*	(a) Deposit held in escrow by___________________________________________________	$ ________________________
12	(“Escrow Agent”) (checks are subject to actual and ﬁnal collection)
13*	Escrow Agent’s address: _________________________________ Phone: ______________
14*	(b) Additional deposit to be made to Escrow Agent within _____ days after Effective Date	$ ________________________
15*	(c) Additional deposit to be made to Escrow Agent within _____ days after Effective Date	$ ________________________
16*	(d) Total ﬁnancing (see Paragraph 5)	$ ________________________
17*	(e) Other ___________________________________________________________________	$ ________________________

18(f) All deposits will be credited to the purchase price at closing. Balance to close, subject

19* to adjustments and prorations, to be paid with locally drawn cashier’s or ofﬁcial bank

$ ________________________

20check(s) or wire transfer.

213. TIME FOR ACCEPTANCE; EFFECTIVE DATE; COMPUTATION OF TIME: Unless this offer is signed by Seller and Buyer

22* and an executed copy delivered to all parties on or before ________________________, this offer will be withdrawn and the

23Buyer’s deposit, if any, will be returned. The time for acceptance of any counter offer will be 3 days from the date the counter

24offer is delivered. The “Effective Date” of this Contract is the date on which the last one of the Seller and Buyer has signed

25or initialed and delivered this offer or the ﬁnal counter offer. Calendar days will be used when computing time periods, except

26time periods of 5 days or less. Time periods of 5 days or less will be computed without including Saturday, Sunday, or national

27legal holidays. Any time period ending on a Saturday, Sunday, or national legal holiday will extend until 5:00 p.m. of the next

28business day. Time is of the essence in this Contract.

294. CLOSING DATE AND LOCATION:

30*

34*

(a)Closing Date: This transaction will be closed on ____________________________________ (Closing Date), unless speciﬁcally extended by other provisions of this Contract. The Closing Date will prevail over all other time periods including, but not limited to, Financing and Due Diligence periods. In the event insurance underwriting is suspended on Closing Date and Buyer is unable to obtain property insurance, Buyer may postpone closing up to 5 days after the insurance underwriting suspension is lifted.

(b)Location: Closing will take place in __________________________________________________ County, Florida. (If left blank, closing will take place in the county where the Property is located.) Closing may be conducted by mail or electronic means.

36* Buyer (_____) (_____) and Seller (_____) (_____) acknowledge receipt of a copy of this page, which is Page 1 of 7 Pages.

375. THIRD PARTY FINANCING:

38*

39*

40*

41*

42*

44*

49*

59*

60*

62*

63*

64*

66*

68*

69*

70*

73*

81*

88*

89*

90*

BUYER’S OBLIGATION: Within ______ days (5 days if left blank) after Effective Date, Buyer will apply for third party ﬁnancing in an

amount not to exceed ______% of the purchase price or $ ______________________, with a ﬁxed interest rate not to exceed ______%

per year or with an initial variable interest rate not to exceed ______%, with points or commitment or loan fees not to exceed ______%

of the principal amount, for a term of ______ years, and amortized over ______ years, with additional terms as follows: _____________

__________________________________________________________________________________________________________________.

Buyer will timely provide any and all credit, employment, ﬁnancial and other information reasonably required by any lender. Buyer will use good faith and reasonable diligence to (i) obtain Loan Approval within _____ days (45 days if left blank) from Effective Date

(Loan Approval Date), (ii) satisfy terms and conditions of the Loan Approval, and (iii) close the loan. Buyer will keep Seller and Broker fully informed about loan application status and authorizes the mortgage broker and lender to disclose all such information to Seller and Broker. Buyer will notify Seller immediately upon obtaining ﬁnancing or being rejected by a lender. CANCELATION: If Buyer, after using good faith and reasonable diligence, fails to obtain Loan Approval by Loan Approval Date, Buyer may within ______ days (3 days if left blank) deliver written notice to Seller stating Buyer either waives this ﬁnancing

contingency or cancels this Contract. If Buyer does neither, then Seller may cancel this Contract by delivering written notice to Buyer at any time thereafter. Unless this ﬁnancing contingency has been waived, this Contract shall remain subject to the satisfaction, by closing, of those conditions of Loan Approval related to the Property.

DEPOSIT(S) (for purposes of Paragraph 5 only): If Buyer has used good faith and reasonable diligence but does not obtain Loan Approval by Loan Approval Date and thereafter either party elects to cancel this Contract as set forth above or the lender fails or refuses to close on or before the Closing Date without fault on Buyer’s part, the Deposit(s) shall be returned to Buyer, whereupon both parties will be released from all further obligations under this Contract, except for obligations stated herein as surviving the termination of this Contract. If neither party elects to terminate this Contract as set forth above or Buyer fails to use good faith or reasonable diligence as set forth above, Seller will be entitled to retain the Deposit(s) if the transaction does not close.

6.TITLE: Seller has the legal capacity to and will convey marketable title to the Property by o statutory warranty deed

o other ________________________________________, free of liens, easements and encumbrances of record or known to Seller,

but subject to property taxes for the year of closing; covenants, restrictions and public utility easements of record; existing zoning and governmental regulations; and (list any other matters to which title will be subject) ______________________________________

________________________________________________________________________________________________________________

____________________________________________________________________________________________________________;

provided there exists at closing no violation of the foregoing and none of them prevents Buyer’s intended use of the Property as

_______________________________________________________________________________________________________________.

(a)Evidence of Title: The party who pays the premium for the title insurance policy will select the closing agent and pay for the title search and closing services. Seller will, at (check one) o Seller’s o Buyer’s expense and within _____ days o after Effective Date o or at least _____ days before Closing Date deliver to Buyer (check one)

o (i.) a title insurance commitment by a Florida licensed title insurer and, upon Buyer recording the deed, an owner’s policy in the amount of the purchase price for fee simple title subject only to exceptions stated above. If Buyer is paying for the evidence of title and Seller has an owner’s policy, Seller will deliver a copy to Buyer within 15 days after Effective Date.

o (ii.) an abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an existing firm. However, if such an abstract is not available to Seller, then a prior owner’s title policy acceptable to the proposed insurer as a base for reissuance of coverage may be used. The prior policy will include copies of all policy exceptions and an update in a format acceptable to Buyer from the policy effective date and certified to Buyer or Buyer’s closing agent together with copies of all documents recited in the prior policy and in the update. If such an abstract or prior policy is not available to Seller then (i.) above will be the evidence of title.

(b)Title Examination: Buyer will, within 15 days from receipt of the evidence of title deliver written notice to Seller of title defects. Title will be deemed acceptable to Buyer if (1) Buyer fails to deliver proper notice of defects or (2) Buyer delivers proper written notice and Seller cures the defects within _____ days from receipt of the notice (“Curative Period”). If the defects are cured within the Curative Period, closing will occur within 10 days from receipt by Buyer of notice of such curing. Seller may elect not to cure defects if Seller reasonably believes any defect cannot be cured within the Curative Period. If the defects are not cured within the Curative Period, Buyer will have 10 days from receipt of notice of Seller’s inability to cure the defects to elect whether to terminate this Contract or accept title subject to existing defects and close the transaction without reduction in purchase price.

(c)Survey: (check applicable provisions below)

o Seller will, within _____ days from Effective Date, deliver to Buyer copies of prior surveys, plans, specifications, and engineering documents, if any, and the following documents relevant to this transaction: _______________________________

______________________________________________________________________________, prepared for Seller or in Seller’s

91* Buyer (_____) (_____) and Seller (_____) (_____) acknowledge receipt of a copy of this page, which is Page 2 of 7 Pages.

94*

96*

97*

possession, which show all currently existing structures. In the event this transaction does not close, all documents provided by Seller will be returned to Seller within 10 days from the date this Contract is terminated.

o Buyer will, at o Seller’s o Buyer’s expense and within the time period allowed to deliver and examine title evidence, obtain a current certified survey of the Property from a registered surveyor. If the survey reveals encroachments on the Property or that the improvements encroach on the lands of another, o Buyer will accept the Property with existing encroachments o such encroachments will constitute a title defect to be cured within the Curative Period.

98(d) Ingress and Egress: Seller warrants that the Property presently has ingress and egress.

997. PROPERTY CONDITION: Seller will deliver the Property to Buyer at the time agreed in its present “as is” condition, ordinary

100wear and tear excepted, and will maintain the landscaping and grounds in a comparable condition. Seller makes no warranties

101other than marketability of title. By accepting the Property “as is,” Buyer waives all claims against Seller for any defects in the

102Property. (Check (a) or (b))

103*

104*

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

125

o (a) As Is: Buyer has inspected the Property or waives any right to inspect and accepts the Property in its “as is” condition.

o (b) Due Diligence Period: Buyer will, at Buyer’s expense and within _______ days from Effective Date (“Due Diligence

Period”), determine whether the Property is suitable, in Buyer’s sole and absolute discretion, for Buyer’s intended use and development of the Property as speciﬁed in Paragraph 6. During the Due Diligence Period, Buyer may conduct any tests, analyses, surveys and investigations (“Inspections”) which Buyer deems necessary to determine to Buyer’s satisfaction the Property’s engineering, architectural, environmental properties; zoning and zoning restrictions; ﬂood zone designation and restrictions; subdivision regulations; soil and grade; availability of access to public roads, water, and other utilities; consistency with local, state and regional growth management and comprehensive land use plans; availability of permits, government approvals and licenses; compliance with American with Disabilities Act; absence of asbestos, soil and ground water contamination; and other inspections that Buyer deems appropriate to determine the suitability of the Property for Buyer’s intended use and development. Buyer will deliver written notice to Seller prior to the expiration of the Due Diligence Period of Buyer’s determination of whether or not the Property is acceptable. Buyer’s failure to comply with this notice requirement will constitute acceptance of the Property in its present “as is” condition. Seller grants to Buyer, its agents, contractors and assigns, the right to enter the Property at any time during the Due Diligence Period for the purpose of conducting Inspections; provided, however, that Buyer, its agents, contractors and assigns enter the Property and conduct Inspections at their own risk. Buyer will indemnify and hold Seller harmless from losses, damages, costs, claims and expenses of any nature, including attorneys’ fees at all levels, and from liability to any person, arising from the conduct of any and all inspections or any work authorized by Buyer. Buyer will not engage in any activity that could result in a mechanic’s lien being ﬁled against the Property without Seller’s prior written consent. In the event this transaction does not close, (1) Buyer will repair all damages to the Property resulting from the Inspections and return the Property to the condition it was in prior to conduct of the Inspections, and

(2)Buyer will, at Buyer’s expense, release to Seller all reports and other work generated as a result of the Inspections. Should Buyer deliver timely notice that the Property is not acceptable, Seller agrees that Buyer’s deposit will be immediately returned to Buyer and the Contract terminated.

126(c) Walk-through Inspection: Buyer may, on the day prior to closing or any other time mutually agreeable to the parties,

127conduct a ﬁnal “walk-through” inspection of the Property to determine compliance with this paragraph and to ensure that all

128Property is on the premises.

1298. OPERATION OF PROPERTY DURING CONTRACT PERIOD: Seller will continue to operate the Property and any business

130conducted on the Property in the manner operated prior to Contract and will take no action that would adversely impact the

131Property, tenants, lenders or business, if any. Any changes, such as renting vacant space, that materially affect the Property or

132* Buyer’s intended use of the Property will be permitted o only with Buyer’s consent o without Buyer’s consent.

1339. CLOSING PROCEDURE:

134(a) Possession and Occupancy: Seller will deliver possession and occupancy of the Property to Buyer at closing. Seller will

135provide keys, remote controls, and any security/access codes necessary to operate all locks, mailboxes, and security systems.

136(b) Costs: Buyer will pay buyer’s attorneys’ fees, taxes and recording fees on notes, mortgages and ﬁnancing statements and

137recording fees for the deed. Seller will pay seller’s attorneys’ fees, taxes on the deed and recording fees for documents needed

138to cure title defects. If Seller is obligated to discharge any encumbrance at or prior to closing and fails to do so, Buyer may use

139purchase proceeds to satisfy the encumbrances.

140(c) Documents: Seller will provide the deed; bill of sale; mechanic’s lien afﬁdavit; originals of those assignable service and

141maintenance contracts that will be assumed by Buyer after the Closing Date and letters to each service contractor from Seller

142* Buyer (_____) (_____) and Seller (_____) (_____) acknowledge receipt of a copy of this page, which is Page 3 of 7 Pages.

143advising each of them of the sale of the Property and, if applicable, the transfer of its contract, and any assignable warranties or

144guarantees received or held by Seller from any manufacturer, contractor, subcontractor, or material supplier in connection with

145the Property; current copies of the condominium documents, if applicable; assignments of leases, updated rent roll; tenant and

146lender estoppel letters; assignments of permits and licenses; corrective instruments; and letters notifying tenants of the change

147in ownership/rental agent. If any tenant refuses to execute an estoppel letter, Seller will certify that information regarding the

148tenant’s lease is correct. If Seller is a corporation, Seller will deliver a resolution of its Board of Directors authorizing the sale

149and delivery of the deed and certiﬁcation by the corporate Secretary certifying the resolution and setting forth facts showing the

150conveyance conforms to the requirements of local law. Seller will transfer security deposits to Buyer. Buyer will provide the

151closing statement, mortgages and notes, security agreements, and ﬁnancing statements.

152(d) Taxes and Prorations: Real estates taxes, personal property taxes on any tangible personal property, bond payments

153assumed by Buyer, interest, rents, association dues, insurance premiums acceptable to Buyer, and operating expenses will be

154prorated through the day before closing. If the amount of taxes for the current year cannot be ascertained, rates for the previous

155year will be used with due allowance being made for improvements and exemptions. Any tax proration based on an estimate

156will, at request of either party, be readjusted upon receipt of current year’s tax bill; this provision will survive closing.

157(e) Special Assessment Liens: Certiﬁed, conﬁrmed, and ratiﬁed special assessment liens as of the Closing Date will be paid

158by Seller. If a certiﬁed, conﬁrmed, or ratiﬁed special assessment is payable in installments, Seller will pay all installments due

159and payable on or before the Closing Date, with any installment for any period extending beyond the Closing Date prorated,

160and Buyer will assume all installments that become due and payable after the Closing Date. Buyer will be responsible for all

161assessments of any kind which become due and owing after Closing Date, unless an improvement is substantially completed as

162of Closing Date. If an improvement is substantially completed as of the Closing Date but has not resulted in a lien before closing,

163Seller will pay the amount of the last estimate of the assessment.

164(f) Foreign Investment In Real Property Tax Act (FIRPTA): If Seller is a “foreign person” as deﬁned by FIRPTA, Seller and

165Buyer agree to comply with Section 1445 of the Internal Revenue Code. Seller and Buyer will complete, execute, and deliver

166as directed any instrument, afﬁdavit, or statement reasonably necessary to comply with the FIRPTA requirements, including

167delivery of their respective federal taxpayer identiﬁcation numbers or Social Security Numbers to the closing agent. If Buyer

168does not pay sufﬁcient cash at closing to meet the withholding requirement, Seller will deliver to Buyer at closing the additional

169cash necessary to satisfy the requirement.

17010. ESCROW AGENT: Seller and Buyer authorize Escrow Agent (Agent) to receive, deposit, and hold funds and other property

171in escrow and, subject to collection, disburse them in accordance with the terms of this Contract. The parties agree that Agent

172will not be liable to any person for misdelivery of escrowed items to Seller or Buyer, unless the misdelivery is due to Agent’s willful

173breach of this Contract or gross negligence. If Agent has doubt as to Agent’s duties or obligations under this Contract, Agent may,

174at Agent’s option, (a) hold the escrowed items until the parties mutually agree to its disbursement or until a court of competent

175jurisdiction or arbitrator determines the rights of the parties or (b) deposit the escrowed items with the clerk of the court having

176jurisdiction over the matter and ﬁle an action in interpleader. Upon notifying the parties of such action, Agent will be released from

177all liability except for the duty to account for items previously delivered out of escrow. If Agent is a licensed real estate broker,

178Agent will comply with Chapter 475, Florida Statutes. In any suit in which Agent interpleads the escrowed items or is made a party

179because of acting as Agent hereunder, Agent will recover reasonable attorney’s fees and costs incurred, with these amounts to be

180paid from and out of the escrowed items and charged and awarded as court costs in favor of the prevailing party.

181

182

183*

184

11.CURE PERIOD: Prior to any claim for default being made, a party will have an opportunity to cure any alleged default. If a party fails to comply with any provision of this Contract, the other party will deliver written notice to the non-complying party specifying the non-compliance. The non-complying party will have _____ days (5 days if left blank) after delivery of such notice to cure the non-compliance.

18512. RETURN OF DEPOSIT: Unless otherwise speciﬁed in the Contract, in the event any condition of this Contract is not met

186and Buyer has timely given any required notice regarding the condition having not been met, Buyer’s deposit will be returned in

187accordance with applicable Florida laws and regulations.

18813. DEFAULT:

189(a) In the event the sale is not closed due to any default or failure on the part of Seller other than failure to make the title

190marketable after diligent effort, Buyer may either (1) receive a refund of Buyer’s deposit(s) or (2) seek speciﬁc performance. If

191Buyer elects a deposit refund, Seller will be liable to Broker for the full amount of the brokerage fee.

192(b) In the event the sale is not closed due to any default or failure on the part of Buyer, Seller may either (1) retain all deposit(s)

193paid or agreed to be paid by Buyer as agreed upon liquidated damages, consideration for the execution of this Contract, and

194* Buyer (_____) (_____) and Seller (_____) (_____) acknowledge receipt of a copy of this page, which is Page 4 of 7 Pages.

195in full settlement of any claims, upon which this Contract will terminate or (2) seek speciﬁc performance. If Seller retains the

196deposit, Seller will pay the Brokers named in Paragraph 20 ﬁfty percent of all forfeited deposits retained by Seller (to be split

197equally among the Brokers) up to the full amount of the brokerage fee.

19814. ATTORNEY’S FEES AND COSTS: In any claim or controversy arising out of or relating to this Contract, the prevailing party,

199which for purposes of this provision will include Buyer, Seller and Broker, will be awarded reasonable attorneys’ fees, costs, and

200expenses.

20115. NOTICES: All notices will be in writing and may be delivered by mail, personal delivery, or electronic means. Parties agree to

202send all notices to addresses speciﬁed on the signature page(s). Any notice, document, or item given by or delivered to an attorney

203or real estate licensee (including a transaction broker) representing a party will be as effective as if given by or delivered to that party.

20416. DISCLOSURES:

205(a) Commercial Real Estate Sales Commission Lien Act: The Florida Commercial Real Estate Sales Commission Lien Act

206provides that when a broker has earned a commission by performing licensed services under a brokerage agreement with you,

207the broker may claim a lien against your net sales proceeds for the broker’s commission. The broker’s lien rights under the act

208cannot be waived before the commission is earned.

209(b) Special Assessment Liens Imposed by Public Body: The Property may be subject to unpaid special assessment lien(s)

210imposed by a public body. (A public body includes a Community Development District.) Such liens, if any, shall be paid as set

211forth in Paragraph 9.(e).

212(c) Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufﬁcient quantities,

213may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines

214have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your

215county public health unit.

216(d) Energy-Efﬁciency Rating Information: Buyer acknowledges receipt of the information brochure required by Section

217553.996, Florida Statutes.

21817. RISK OF LOSS:

219(a) If, after the Effective Date and before closing, the Property is damaged by ﬁre or other casualty, Seller will bear the risk of

220loss and Buyer may cancel this Contract without liability and the deposit(s) will be returned to Buyer. Alternatively, Buyer will

221have the option of purchasing the Property at the agreed upon purchase price and Seller will transfer to Buyer at closing any

222insurance proceeds, or Seller’s claim to any insurance proceeds payable for the damage. Seller will cooperate with and assist

223Buyer in collecting any such proceeds.

224(b) If, after the Effective Date and before closing, any part of the Property is taken in condemnation or under the right of eminent

225domain, or proceedings for such taking will be pending or threatened, Buyer may cancel this Contract without liability and the

226deposit(s) will be returned to Buyer. Alternatively, Buyer will have the option of purchasing what is left of the Property at the

227agreed upon purchase price and Seller will transfer to the Buyer at closing the proceeds of any award, or Seller’s claim to any

228award payable for the taking. Seller will cooperate with and assist Buyer in collecting any such award.

229*

230*

231

18.ASSIGNABILITY; PERSONS BOUND: This Contract may be assigned to a related entity, and otherwise o is not assignable o is assignable. The terms “Buyer,” “Seller” and “Broker” may be singular or plural. This Contract is binding upon Buyer, Seller and their heirs, personal representatives, successors and assigns (if assignment is permitted).

23219. MISCELLANEOUS: The terms of this Contract constitute the entire agreement between Buyer and Seller. Modiﬁcations of

233this Contract will not be binding unless in writing, signed and delivered by the party to be bound. Signatures, initials, documents

234referenced in this Contract, counterparts and written modiﬁcations communicated electronically or on paper will be acceptable

235for all purposes, including delivery, and will be binding. Handwritten or typewritten terms inserted in or attached to this Contract

236prevail over preprinted terms. If any provision of this Contract is or becomes invalid or unenforceable, all remaining provisions will

237continue to be fully effective. This Contract will be construed under Florida law and will not be recorded in any public records.

238* Buyer (_____) (_____) and Seller (_____) (_____) acknowledge receipt of a copy of this page, which is Page 5 of 7 Pages.

23920. BROKERS: Neither Seller nor Buyer has used the services of, or for any other reason owes compensation to, a licensed real

240estate Broker other than:

241*	(a) Seller’s Broker: ____________________________________________________________________________________________,
242	(Company Name)	(Licensee)
243*	______________________________________________________________________________________________________________,
244	(Address, Telephone, Fax, E-mail)
245*	who o is a single agent o is a transaction broker o has no brokerage relationship and who will be compensated by o Seller
246*	o Buyer o both parties pursuant to o a listing agreement o other (specify) _____________________________________________
247*	______________________________________________________________________________________________________________
248*	(b) Buyer’s Broker: ___________________________________________________________________________________________,
249	(Company Name)	(Licensee)
250*	______________________________________________________________________________________________________________,
251	(Address, Telephone, Fax, E-mail)
252*	who o is a single agent o is a transaction broker o has no brokerage relationship and who will be compensated by o Seller’s
253*	Broker o Seller o Buyer o both parties pursuant to o an MLS offer of compensation o other (specify)
254*	______________________________________________________________________________________________________________

255(collectively referred to as “Broker”) in connection with any act relating to the Property, including but not limited to inquiries,

256introductions, consultations, and negotiations resulting in this transaction. Seller and Buyer agree to indemnify and hold Broker

257harmless from and against losses, damages, costs and expenses of any kind, including reasonable attorneys’ fees at all levels,

258and from liability to any person, arising from (1) compensation claimed which is inconsistent with the representation in this

259Paragraph, (2) enforcement action to collect a brokerage fee pursuant to Paragraph 10, (3) any duty accepted by Broker at the

260request of Seller or Buyer, which is beyond the scope of services regulated by Chapter 475, Florida Statutes, as amended, or (4)

261recommendations of or services provided and expenses incurred by any third party whom Broker refers, recommends, or retains

262for or on behalf of Seller or Buyer.

26321. OPTION (Check if any of the following clauses are applicable and are attached as an addendum to this Contract):

264*	o Arbitration	o Seller Warranty	o Existing Mortgage
265*	o Section 1031 Exchange	o Coastal Construction Control Line	o Buyer’s Attorney Approval
266*	o Property Inspection and Repair	o Flood Area Hazard Zone	o Seller’s Attorney Approval
267*	o Seller Representations	o Seller Financing	o Other ___________________________

26822. ADDITIONAL TERMS:

269*	________________________________________________________________________________________________________________
270*	________________________________________________________________________________________________________________
271*	________________________________________________________________________________________________________________
272*	________________________________________________________________________________________________________________
273*	________________________________________________________________________________________________________________
274*	________________________________________________________________________________________________________________
275*	________________________________________________________________________________________________________________
276*	________________________________________________________________________________________________________________
277*	________________________________________________________________________________________________________________
278*	________________________________________________________________________________________________________________

279THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE

280OF AN ATTORNEY PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL FACTS AND

281REPRESENTATIONS THAT ARE IMPORTANT TO THEM AND TO CONSULT AN APPROPRIATE PROFESSIONAL

282FOR LEGAL ADVICE (FOR EXAMPLE, INTERPRETING CONTRACTS, DETERMINING THE EFFECT OF LAWS ON

283THE PROPERTY AND TRANSACTION, STATUS OF TITLE, FOREIGN INVESTOR REPORTING REQUIREMENTS,

284ETC.) AND FOR TAX, PROPERTY CONDITION, ENVIRONMENTAL AND OTHER ADVICE. BUYER ACKNOWLEDGES

285THAT BROKER DOES NOT OCCUPY THE PROPERTY AND THAT ALL REPRESENTATIONS (ORAL, WRITTEN OR

286OTHERWISE) BY BROKER ARE BASED ON SELLER REPRESENTATIONS OR PUBLIC RECORDS UNLESS BROKER

287INDICATES PERSONAL VERIFICATION OF THE REPRESENTATION. BUYER AGREES TO RELY SOLELY ON SELLER,

288PROFESSIONAL INSPECTORS AND GOVERNMENTAL AGENCIES FOR VERIFICATION OF THE PROPERTY CONDITION,

289SQUARE FOOTAGE AND FACTS THAT MATERIALLY AFFECT PROPERTY VALUE.

290* Buyer (_____) (_____) and Seller (_____) (_____) acknowledge receipt of a copy of this page, which is Page 6 of 7 Pages.

291Each person signing this Contract on behalf of a party that is a business entity represents and warrants to the other party that

292such signatory has full power and authority to enter into and perform this Contract in accordance with its terms and each person

293executing this Contract and other documents on behalf of such party has been duly authorized to do so.

294*	_________________________________________________________	Date: ______________________________________________
295	(Signature of Buyer)
296*	_________________________________________________________	Tax ID No.: _________________________________________
297	(Typed or Printed Name of Buyer)
298*	Title: ____________________________________________________	Telephone: _________________________________________
299*	_________________________________________________________	Date: ______________________________________________
300	(Signature of Buyer)
301*	_________________________________________________________	Tax ID No.: _________________________________________
302	(Typed or Printed Name of Buyer)
303*	Title: ____________________________________________________	Telephone: _________________________________________
304*	Buyer’s Address for purpose of notice: _____________________________________________________________________________
305*	Facsimile: ________________________________________________	E-mail:_____________________________________________
306*	_________________________________________________________	Date: ______________________________________________

307(Signature of Seller)

308*	_________________________________________________________	Tax ID No.: _________________________________________
309	(Typed or Printed Name of Seller)
310*	Title: ____________________________________________________	Telephone: _________________________________________
311*	_________________________________________________________	Date: ______________________________________________
312	(Signature of Seller)
313*	_________________________________________________________	Tax ID No.: _________________________________________
314	(Typed or Printed Name of Seller)
315*	Title: ____________________________________________________	Telephone: _________________________________________
316*	Seller’s Address for purpose of notice: ______________________________________________________________________________
317*	Facsimile: ________________________________________________	E-mail:_____________________________________________

The Florida Association of REALTORS® makes no representation as to the legal validity or adequacy of any provision of this form in any speciﬁc transaction. This standardized form should not be used in complex transactions or with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identify the user as a REALTOR®. REALTOR® is a registered collective membership mark which may be used only by real estate licensees who are members of the NATIONAL ASSOCIATION OF REALTORS® and who subscribe to its Code of Ethics.

The copyright laws of the United States (17 U.S. Code) forbid the unauthorized reproduction of this form by any means including facsimile or computerized forms.

318* Buyer (_____) (_____) and Seller (_____) (_____) acknowledge receipt of a copy of this page, which is Page 7 of 7 Pages.

Dos and Don'ts

Do read the entire contract carefully before filling it out to understand all terms and conditions.
Do ensure that all parties' names and contact information are accurately entered to avoid confusion later.
Do provide a complete legal description of the property to ensure clarity in the transaction.
Do specify the purchase price and any deposits clearly to prevent disputes over financial terms.
Don't leave any sections blank unless instructed; incomplete forms can lead to delays or issues.
Don't rush through the process; take the time to double-check all entries for accuracy.
Don't ignore deadlines; timely responses and actions are crucial to keep the contract valid.