Real Estate Contracts: The Find Details of Your Contract
An overview of Florida real estate contracts.
This is where things get exciting. When you find the house you want to call home, you'll make an offer by submitting what's called a "contract for purchase and sale" or "purchase and sale agreement." It¹s the blueprint for the entire transaction. Real estate agents often provide these, but unless you understand the nuances of real estate law, don't sign without having your attorney review it.
Your attorney is familiar with Florida real estate contracts and Florida real estate law. He or she will make sure all the provisions are to your benefit, and will add or delete some if they're not. Remember, once the contract is signed, you're legally bound to the terms. If you can't wait for your attorney to review the contract, then only sign with the condition—written clearly above your signature—that the deal is "subject to my attorney's approval."
The contract spells out the terms and conditions of the purchase-from the purchase price all the way down to who pays the utilities until you take possession of the house. However, don't think any pre-printed Florida real estate contract is written in stone. Rather, it's where you and the seller begin negotiating. And it's where your Florida real estate lawyer will be invaluable to you-offering advice that can save you hundreds, even thousands, of dollars down the road.