Post by Admin on Mar 31, 2014 14:16:22 GMT -5
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This is one of the shorter contracts the Florida realtors use. It is an alternative to the "As is" Sales Contract if the "As Is" designation makes a Buyer nervous. There is hardly any difference between the two except for the Inspection provisions.
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The only other REQUIRED addition to this--and ALL land and home sales contracts in S-bag is the state-mandated Homeowner Disclosure.
Sellers should also give Buyers a Disclosure but this is not usually asked for by Buyers and it will be hosted and posted separately due to its size. However, because of the recent suit alleging the expiration of covenants, Sellers would be wise to disclose what they know (In writing). You could do this right on the HOA Disclosure form. The statement doesn't have to be definitive--it is enough to say "It is alleged that the C&R's have expired. The matter is litigation and has yet to be resolved." If your Buyer wants more information, tell them that the complaint is recorded in Polk County Official Records website and further information is freely available to the public.
Disclaimer: I am not an attorney nor a licensed real estate agent and the interpretations above are my opinion and offered for informational purposes only. These interpretations should not be relied upon if you need legal help with your real estate transaction. Consult an attorney for legal advice.
This is one of the shorter contracts the Florida realtors use. It is an alternative to the "As is" Sales Contract if the "As Is" designation makes a Buyer nervous. There is hardly any difference between the two except for the Inspection provisions.
Attachment Deleted
The only other REQUIRED addition to this--and ALL land and home sales contracts in S-bag is the state-mandated Homeowner Disclosure.
Sellers should also give Buyers a Disclosure but this is not usually asked for by Buyers and it will be hosted and posted separately due to its size. However, because of the recent suit alleging the expiration of covenants, Sellers would be wise to disclose what they know (In writing). You could do this right on the HOA Disclosure form. The statement doesn't have to be definitive--it is enough to say "It is alleged that the C&R's have expired. The matter is litigation and has yet to be resolved." If your Buyer wants more information, tell them that the complaint is recorded in Polk County Official Records website and further information is freely available to the public.
Disclaimer: I am not an attorney nor a licensed real estate agent and the interpretations above are my opinion and offered for informational purposes only. These interpretations should not be relied upon if you need legal help with your real estate transaction. Consult an attorney for legal advice.