Attorney-Approved Real Estate Purchase Agreement Template for Florida
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The Florida Real Estate Purchase Agreement form serves as a crucial document in the home buying process, outlining the terms and conditions agreed upon by both the buyer and seller. This form typically includes essential details such as the purchase price, property description, and closing date, ensuring that all parties have a clear understanding of their commitments. Additionally, it addresses important contingencies, such as financing, inspections, and appraisal conditions, which protect the interests of the buyer. The agreement also specifies the responsibilities of each party, including any required disclosures and the handling of earnest money deposits. By providing a structured framework for the transaction, the Florida Real Estate Purchase Agreement helps facilitate a smoother process, ultimately leading to a successful transfer of ownership. Understanding this form is vital for anyone involved in real estate transactions in Florida, as it lays the groundwork for a legally binding agreement that can help prevent disputes down the line.
Form Example
Florida Real Estate Purchase Agreement
This Real Estate Purchase Agreement ("Agreement") is made on this ______ day of ___________, 20____ ("Effective Date"), by and between ________________ ("Seller") and ________________ ("Buyer"). The parties agree as follows:
1. Property
Seller agrees to sell, and Buyer agrees to buy the following described real property situated in the State of Florida ("Property"): ______________________________________, together with all improvements, fixtures, and appurtenances thereon.
2. Purchase Price
The purchase price for the Property is $________________ ("Purchase Price"). This amount is payable as follows:
- Initial deposit of $________________ to be paid by Buyer to escrow agent ________________ on or before ________________.
- Balance of the Purchase Price in the amount of $________________ to be paid at closing.
3. Closing and Possession
The closing of the purchase and sale of the Property (“Closing”) shall take place on ________________ or as otherwise agreed upon by the parties. Possession of the Property shall be delivered to Buyer at Closing, subject to the rights of any tenants in possession.
4. Closing Costs
Buyer and Seller shall each be responsible for their respective closing costs as required by Florida law and as agreed upon in writing.
5. Disclosures
Seller shall provide to Buyer all disclosures required by Florida law, including but not limited to the Florida Residential Seller’s Property Disclosure Statement.
6. Inspections
Buyer shall have the right to inspect the Property within ________________ days after the Effective Date of this Agreement. If Buyer, in Buyer's sole discretion, is not satisfied with the results of the inspections, Buyer may terminate this Agreement by written notice to Seller and receive a refund of the initial deposit.
7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Florida.
8. Entire Agreement
This Agreement constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all previous agreements, promises, representations, and negotiations concerning the Property.
9. Signatures
IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date first above written.
_____________________________ _____________________________
Seller's Signature Buyer's Signature
_____________________________ _____________________________
Seller's Printed Name Buyer's Printed Name
_____________________________ _____________________________
Date Date
Form Specifications
| Fact Name | Details |
|---|---|
| Governing Law | The Florida Real Estate Purchase Agreement is governed by Florida state law. |
| Purpose | This form outlines the terms of a real estate transaction between a buyer and a seller. |
| Offer and Acceptance | The agreement serves as a formal offer from the buyer, which the seller can accept or reject. |
| Deposit Requirement | A deposit is typically required to demonstrate the buyer's commitment to the purchase. |
| Contingencies | Common contingencies include financing, inspections, and appraisal conditions. |
| Closing Timeline | The agreement specifies a timeline for closing the transaction, often within 30 to 60 days. |
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