Collectively Property Pursuant to the Terms and Conditions of This as is Residential Contract for Sale and Floridarealtors Form
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People also ask
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Can sellers back out of a contract?
Yes, a seller may be able to back out of an accepted offer to buy a home. This is especially true if the buyer and seller have not signed a purchase and sale agreement and have only agreed in principle on the transaction. Can a seller back out of a purchase agreement? Yes, a seller can back out of a purchase agreement.
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Can a seller accept another offer while under contract?
A seller cannot typically accept another offer while under contract unless there is a kick-out clause in place.
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What does property under contract mean?
An under-contract real estate listing means the seller has accepted an offer and signed a purchase and sale agreement with a buyer. While both parties are one step closer to completing a sale, that doesn't necessarily mean it's a done deal. Most offers include contingencies that must be met for the sale to close.
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What is an as is residential contract in Florida?
A house may be sold “as-is” for the entire property or just one component. “as-is” for the entire property is exactly what it sounds like - the seller won't make any repairs or reduce the price for any part of the property, whether it's a minor issue or something major like structural problems.
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What does the term as is mean in real estate in contract?
An "as is" real estate contract means the property is sold in its current condition without warranties or repairs. Unlike a typical contract where repairs and negotiations are common, in an "as is" contract: The property's condition is as it is.
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What's the difference between pending and under contract?
Under contract comes right after a buyer's offer is accepted, while pending sale is the last stage before finalizing a deal. While contracts can fall through during either stage, its occurrence is far more likely when a deal is under contract.
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What does it mean that a property is under contract?
Under contract means the seller has accepted a buyer's offer, and a purchase agreement has been signed by both parties — but the sale won't be complete until any contingencies (such as those listed above) are satisfied. Once contingencies have been fulfilled or waived, the property signNowes the pending sale stage.
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What is the Florida Realtors Florida Bar Residential Contract for Sale and purchase best for?
Final answer: The Florida Realtors/Florida Bar Residential Contract for Sale and Purchase is most appropriately used for selling a residential property option (c). It is designed for residential real estate transactions in Florida, ensuring compliance with state regulations.
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