Florida Purchase Contract Explained: A Seller's Guide
The FAR/BAR contract is Florida's standard residential purchase agreement. Understanding the key terms, deadlines, and seller obligations prevents costly mistakes and protects you throughout the transaction.
List for $99 — No Closing FeesThe Two Main FAR/BAR Contract Versions
FAR/BAR "As Is" Contract
The most common Florida residential contract. Buyers accept the property in its current condition but retain the right to cancel during the inspection period for ANY reason. Seller is not obligated to make repairs.
FAR/BAR Standard Contract
Less common. Seller has more obligation to fix items identified in inspection up to a negotiated cap. More complex negotiation dynamic — both parties must agree on repairs or credits.
Most Florida real estate transactions use the As Is version. It's cleaner, faster, and better defines each party's rights.
Key Contract Deadlines for Sellers
| Deadline | Typical Timeframe | What Happens |
|---|---|---|
| Effective Date | Day 0 | Contract signed by all parties; all deadlines count from here |
| Deposit Delivery | Day 1–3 | Buyer delivers earnest money to escrow agent |
| Inspection Period | Days 1–10 | Buyer inspects and can cancel for any reason with full deposit refund |
| HOA/Condo Documents | Day 3 | Seller delivers association documents (condo/HOA) |
| Financing Contingency | Days 1–21 | Buyer must apply for mortgage; loan approval typically due |
| Appraisal (if contingent) | Varies | Property must appraise at or above contract price |
| Title Commitment | 7–10 days before closing | Title company issues commitment; seller cures any exceptions |
| Closing Date | Typically Day 21–45 | All parties sign; funds disburse; keys transfer |
What Sellers Must Do Before Closing
Complete agreed repairs (if any)
If repair credits or specific repairs were negotiated post-inspection, they must be completed before closing. Get receipts — buyers can verify at final walkthrough.
Maintain the property
The contract requires the seller to maintain the property in the same condition as when the contract was signed. Don't remove fixtures, appliances included in the sale, or make structural changes.
Satisfy title exceptions
Any liens, judgments, or HOA balances shown on the title commitment must be paid off or cleared before closing. Work with the title company to address these early.
Deliver estoppel letter
For HOA or condo properties, the seller must request and deliver a certified estoppel letter from the association. This typically takes 7–10 business days.
Vacate and clean
The buyer is entitled to a final walkthrough before closing. The property should be vacated, cleaned, and in the contracted condition. Buyers can delay closing if the walkthrough reveals material changes.
Seller Default & Buyer Default: Know Your Rights
If Buyer Defaults
Seller typically retains the earnest money deposit as liquidated damages — this is the seller's primary remedy under most FAR/BAR contracts. Seller can also sue for specific performance in some circumstances.
If Seller Defaults
Buyer can sue for specific performance (force the sale) or sue for damages. Seller default is far more legally exposed than buyer default — don't back out of contracts without consulting an attorney.
Force Majeure & Extensions
Closing extensions can be requested by either party for reasonable cause (lender delay, title issues, natural disasters). Both parties must agree in writing to any extension.
Related Florida Seller Resources
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