Real Estate Law


Florida Purchase and Sale Contracts

A Florida purchase and sale contract is a legal agreement between a buyer and a seller of real property that contains the terms and conditions of the sale. Florida law does require certain disclosures in any purchase and sale contract.

Contents of a Purchase and Sale Contract

  • The seller has to provide marketable title and insurable title by closing.
  • The seller provides title insurance, an attorney’s opinion on title, surveys, deeds of trust, easements, and any other documents pertaining to the property.
  • List all disclosures required under Florida law.

A purchase and sale contract can be used for seller financing, to assume a mortgage, to make the sale contingent on the buyer obtaining financing, or a cash sale.

Disclosures

  • The seller usually must disclose all known facts that may materially affect the value of a home, whether they are obvious or not. This includes the history of the property’s condition, repairs and defects. This could change if you enter into an “As Is” contract.
  • Disclose if the home is within a homeowners’ or condominium association.
  • If the Florida home was built before 1978, a lead paint disclosure is required.
  • Permit radon, termite, mold and general home inspection by the buyer.
  • Disclose property located in flood hazard zones, very high fire hazard severity zones, and wildland fire areas.
  • Megan’s Law--disclosure of proximity of registered sex offenders and access to sex registry database.
  • Location and proximity of military ordnance sites if in the area.
  • Disclosure of known hazardous substances on the property.

Before you sign or enter into any Florida purchase and sale contract, consult with a real estate lawyer. The lawyers at the Morey Law Firm, P.A. have successfully negotiated Florida purchase and sale contracts and can ensure that all your rights are protected.

Call the Morey Law Firm, P.A. today at (407) 426-7222.