Download Far Bar As Is Contract 2014 Pdf
An Overview of the Florida FAR-BAR ContractThe Florida FAR-BAR contract is a standard form agreement developed cooperatively by The Florida Bar and Florida Association of Realtors. The FAR-BAR agreement is utilized to facilitate the sale of real estate in the Sunshine State. As a result, the contract contains many of the same provisions typically found in other standard real estate agreements used in Florida.The FAR-BAR contact is widely used in Florida by attorneys in Miami Beach representing a client in a real estate sales transaction. Availability of the FAR-BAR ContractAlthough the Florida FAR-BAR contract is the product of two professional organizations, The Florida Bar and Florida Association of Realtors, the use of this agreement is not restricted to members of these organizations. Rather, one of the reasons the contract was created was to ensure that people involved in real estate transactions in Florida have access to a reliable and legally binding agreement. In other words, the FAR-BAR contract is available for use to anyone involved in a real estate sales transaction in the State of Florida.However, even though a member of the public can use the FAR-BAR contract in a real estate sales transaction, in most cases a person is better served seeking professional assistance in such a situation.
The fact is that even with a well-crafted FAR-BAR contract prepared by legal and real estate professionals, a real estate sales transaction is a complicated matter. There are often terms and contingencies that should be drafted by an experienced real estate attorney. Contents of FAR-BAR ContractThe FAR-BAR contract contains provisions regarding the sales price and the closing date as well as associated information.
In addition, the FAR-BAR includes provisions that deal with the all-important financial and inspection contingencies associated with a real estate sales transactions. The satisfaction of these contingencies is what ultimately dictates whether or not the sales transaction is consummated.The FAR-BAR contract contains provisions regarding title matters, including evidence of title and a time period to correct any deficiencies associated with the title.Beyond the standard provisions, the professionals who created the FAR-BAR contract have also come up with a variety of standardized addendums that are often required in particular real estate sales transactions. For example, a lead based paint addendum is available for a transaction in which the existence of lead paint must be disclosed by the seller to the buyer.
The FAR-BAR contract is crafted in such a manner that customized addendums can also be added to the primary agreement with ease. For example, the parties may have negotiated special terms regarding a post-occupancy or repairs to be completed by the seller. When special custom terms or provisions are required, having an experienced real estate attorney involved in the process will ensure that these provisions are properly drafted. Use of a FAR-BAR ContractThe Florida FAR-BAR contract is designed for ease of use. For example, a digital form of the agreement is available readily to professionals and laypersons alike in the State of Florida. Using a computer, or similar device, a person involved in a real estate sales transactions can readily input the information relevant to a specific situation. In addition, it is also perfectly lawful for those involved in a real estate transaction to use a hard copy of the FAR-BAR contract and fill in the blanks as necessary.
Current Version of the FAR-BAR ContractA person interested in utilizing the FAR-BAR contract for a particular real estate sales transactions must understand that the agreement is updated by the professionals at The Florida Bar and Florida Association of Realtors from time to time. As a result, a person involved in this type of process needs to confirm that he or she is making use of the most recent version of the contract. A person involved in a real estate sales transaction can verify that they are using the most recent version of the agreement by contacting either The Florida Bar or Florida Association of Realtors.
In addition, a professional attorney in Miami Beach can verify that a proper, current version of the FAR-BAR contract is used in a specific real estate sales transaction and can assist the buyer or seller in making sure that the contract is properly completed and prepare any special addendums or provisions required to reflect the terms that the parties have negotiated.
FLORIDA REAL ESTATE and TITLE ATTORNEYSPracticing real estate law and having clients send me offers to review on a weekly basis, often I am asked whether it is a safe bet to enter into an “AS IS” contract? Will the buyers deposit be protected if there is anything that comes up at inspection? The answer is YES. Well, allow me to be clearer. Always with the smart backing of a knowledgeable real estate lawyer and realtor will the buyer/seller be 100% protected.The distinction between a Florida “AS IS” real estate contract and a regular Residential Contract for Purchase and Sale is simple really. In an “AS-IS” contract, the buyer has the right to inspect the property however, if anything comes up during inspection, particularly large ticket items such as roof replacement or plumbing or electrical work, the seller is NOT required to make any concessions.
That is, the seller is not required to either repair, replace the item or make a credit for the cost of the repair or replacement. The buyer can then elect to close with the items, or obtain a full report for the cost, and make an informed decision with his attorney and realtor as to moving forward with such items of disrepair.In a Regular FAR BAR or FAR Contract for Purchase and Sale of Real Estate, the seller is required to correct items in the inspection report or give credits for such repairs. The seller can not simply deny such repairs.Not all sellers like to enter into any type of contract that is not AS IS. However, with a well versed realtor and attorney protecting them, there should be no fear in doing so.At Jacqueline Salcines, PA we are both real estate lawyers and accountants with extensive experience representing buyers and sellers in their real estate property needs in Florida. As an attorney, accountant and title agent for Old Republic National Title Insurance, Inc., we provide a complete array of closing services. Consult with attorney Jacqueline Salcines, PA today with regard to:.
Download Far Bar As Is Contract 2014 Pdf Full
Review of Contract for Sale and Purchase. Review of Contract Addendums. Review of Condominium Riders. Title search and examination.
Lien letters. Incorporation for purchase. Quit Claim Deeds. Tax implications on purchase. Survey requests. Estoppel requests. Lien negotiation.
IRS/Federal tax lien on property negotiations. Seller docs. Preparation of Purchase Money Mortgages and NotesMeet with our real estate attorney today and put us to work for you.
The first consultation is always free of charge. Or email attorney Jacqueline Salcines directly your real estate question at J.Salcines@salcineslaw.com TRUST COMMITMENT RESULTS.