What the Florida Residential Contract Is
The Florida Residential Contract is a standardized purchase agreement commonly used for residential real estate transactions in Florida. It sets the terms between buyer and seller, including price, financing contingencies, inspection periods, closing date, prorations, and property condition disclosures. The form allocates responsibilities for title, closing costs, and default remedies, and it may reference additional county or local addenda. Real estate licensees and attorneys typically use the contract to document offers, counteroffers, and accepted agreements. Parties should ensure all blanks are completed accurately and that any handwritten changes are initialed by all parties.