Florida Real Estate Contract Guide
Florida uses FAR (Florida Association of Realtors) and FAR/BAR (joint Florida Association of Realtors / Florida Bar) contract forms. With unique hurricane disclosure requirements, specific escrow rules, and a massive volume of both domestic and international transactions, FL contracts have their own distinct character.
FAR/BAR Standard Forms
Florida has two primary contract forms. The FAR contract is simpler, while the FAR/BAR contract is more comprehensive and drafted jointly with The Florida Bar. Most transactions in South Florida use FAR/BAR.
FAR/BAR As-Is Contract
The most commonly used contract in Florida. Designed for as-is sales where the seller makes no obligation to make repairs. Buyer relies on their own inspections during the inspection period.
FAR/BAR Standard Contract
Includes a maintenance/repair obligation requiring the seller to maintain the property and repair items up to a specified cost limit (typically 1.5% of purchase price).
FAR Residential Contract for Sale and Purchase
A simpler alternative published by FAR alone. Less detailed than the FAR/BAR forms but used in some markets.
FAR/BAR Condo Rider
Required addendum for condominium purchases. Addresses HOA/condo association rights, including the association’s right of first refusal.
FAR/BAR Comprehensive Rider
Covers additional provisions — FHA/VA financing terms, sale of buyer’s property, coastal construction, flood zone, and homeowner association provisions.
FL Deadline Rules
Florida counts most contract deadlines in calendar days. Understanding how Florida handles the inspection period and closing date is critical — the rules are stricter than many agents expect.
Calendar days from effective date
Deadlines run on calendar days from the effective date (last party to sign and deliver). Day 1 is the day after the effective date.
Time is of the essence
Florida contracts explicitly state that time is of the essence. Deadlines are hard deadlines — missing one puts your client in default.
Inspection period (typically 15 days)
The standard inspection period is negotiable but commonly set at 10–15 calendar days. During this time, the buyer can inspect and cancel for any reason if using the As-Is contract.
Loan approval deadline
Buyer must obtain loan approval within the specified number of days. If financing falls through after this deadline, earnest money may be at risk.
Closing date
Florida treats the closing date as a binding commitment. If either party cannot close on time, they must request an extension in writing. Failure to close is a default.
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FL Contingency Rules
Florida’s FAR/BAR contract handles contingencies differently from many states. The As-Is contract is particularly popular and gives buyers flexibility during the inspection period.
Inspection Period (As-Is)
Under the FAR/BAR As-Is contract, the buyer has a set inspection period to conduct any inspections. During this period, the buyer can cancel for any reason and receive their earnest money back. This is Florida’s version of an “out” clause.
Financing Contingency
Buyer must obtain loan approval within the specified timeframe. The contract specifies what constitutes loan approval and what happens if the buyer’s application is denied.
Appraisal Contingency
Not automatically included in FAR/BAR contracts. Must be added as an additional provision. Without it, the buyer is obligated to close regardless of appraised value.
Title Contingency
Built into the standard contract. Seller must provide marketable title. Buyer has a specified period to review and object to title exceptions.
Condo/HOA Association Approval
Florida condo and HOA associations often have the right of first refusal. The association has a set number of days to approve the buyer or exercise their right.
For a complete overview of how contingencies work, see our guide: Real Estate Contract Contingencies Explained.
FL Disclosure Requirements
Florida has several mandatory disclosure requirements, with particular emphasis on environmental hazards, property condition, and hurricane-related issues.
Seller’s Property Disclosure
While Florida does not mandate a specific state disclosure form, sellers have a common-law duty to disclose known material defects. Most agents use a standard disclosure form to document this.
Lead-Based Paint Disclosure
Federal requirement for homes built before 1978. Must be provided before the buyer is obligated.
Hurricane/Windstorm Disclosure
Sellers must disclose known hurricane damage history and whether the property has hurricane protection (shutters, impact windows). Critical in coastal Florida.
Flood Zone Disclosure
Particularly important in South Florida, coastal areas, and anywhere near waterways. Sellers must disclose if the property is in a FEMA flood zone.
Sinkhole Disclosure
Florida law requires sellers to disclose known sinkhole activity or testing. Central Florida is particularly prone to sinkholes.
Energy Efficiency Rating
Florida requires disclosure of the property’s energy efficiency rating if one exists.
Radon Gas Disclosure
Florida requires a radon gas disclosure notice in all residential real estate contracts.
Chinese Drywall Disclosure
For properties built or renovated between 2001–2009, sellers must disclose if defective Chinese drywall is present.
FL Earnest Money Rules
Florida has specific escrow laws governing earnest money deposits. Violations can result in license suspension, making proper handling essential.
Typical amount
Usually 1% to 3% of the purchase price. International buyers (common in Miami, Orlando) often deposit higher amounts.
Deposit deadline
Typically due within 3 days of the effective date. The escrow agent must deposit the funds within 3 business days of receipt.
Held by escrow agent
Can be held by the listing broker, a title company, or an attorney. The escrow agent is identified in the contract and has strict fiduciary duties.
Florida escrow laws
Chapter 475, Florida Statutes, governs earnest money handling. An escrow agent who fails to deposit funds timely or mishandles them faces license suspension and legal action.
Dispute resolution
If there’s a dispute, the escrow agent can request an escrow disbursement order (EDO) from FREC, file an interpleader action in court, or mediate per the contract terms.
Learn more about common pitfalls: Earnest Money Clause Mistakes (And How to Fix Them Fast).
Florida-Specific Rules
Florida’s real estate market has unique characteristics driven by its climate, international buyer pool, and insurance landscape.
Insurance considerations
Property insurance availability and cost are major factors in Florida transactions. Some areas face limited coverage options, high premiums, or Citizens Insurance requirements. Buyers should verify insurance availability before removing contingencies.
Documentary stamp tax
Florida imposes a documentary stamp tax on the deed (typically paid by the seller) at $0.70 per $100 of sale price. Miami-Dade County has a higher rate. This is in addition to intangible tax on new mortgages.
Foreign Investment in Real Property Tax Act (FIRPTA)
With Florida’s large international buyer pool, FIRPTA withholding is common. If the seller is a foreign person, the buyer may be required to withhold up to 15% of the gross sales price for the IRS.
Homestead exemption
Florida’s homestead exemption provides significant property tax savings and creditor protection. New homeowners must apply for the exemption by March 1 of the year following purchase.
Condo termination rights
Florida has unique condo termination laws (Section 718, Florida Statutes) that allow a developer or majority of owners to terminate a condo association. Buyers should investigate this possibility in older condo buildings.
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