505 East Jackson Street-Suite 303 - Tampa, Florida 33602
Phone: (813) 387-7724 - Fax: (813) 387-7727
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505 East Jackson Street-Suite 303 - Tampa, Florida 33602 Phone: (813) 387-7724 - Fax: (813) 387-7727
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Knowledge Is Key To Buying and Selling Real Estate By Attorney Miriam L. Sumpter Richard
CONTRACTS IMPORTANT TO REAL ESTATE. Six (6) Real Estate Contracts investors normally come across are: (1) Listing; (2) Buyers Brokerage; (3) Option; (4) Purchase and Sale Contract; (5) As–Is Contract and (6) Vacant Land Contract. A listing contract may be oral, written, or implied. A listing contract is a broker’s employment agreement. It should never have an automatic renewal clause. A Buyers Brokerage Contract is an employment contract with the buyer. The broker works for the buyer. An Option Contract is an agreement to keep open a specified period of time an offer to sell or lease real property. A Purchase and Sale Contract is a promise by the buyer and the seller to perform specific things in exchange for a specific lot. An As-Is Contract is an agreement to buy the lot as it sits, without any improvements unless specifically negotiated. Finally, a Vacant Land Contract is an agreement to buy land. Be sure you have a feasibility study option to determine if it is fit and zoned for your intended use. The Florida Bar and the Florida Association of Realtors have generated theses forms and they are typically referred to as FAR/BAR Forms. Try to use these forms in every situation. Home made forms invite problems!
For More Information Contact: Tel:
(813) 387-7724
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