Miami-Dade Florida Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land is a legal document that outlines the terms and conditions for the sale and purchase of commercial properties in Miami-Dade County, Florida. This contract is used when there is no involvement of a real estate broker and is specific to commercial lots or land. Key Elements of the Miami-Dade Florida Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land: 1. Parties: The contract identifies the buyer and seller involved in the transaction. It includes their names, addresses, and contact information. 2. Property Description: The contract provides a detailed description of the commercial lot or land being sold, including the legal description, boundary lines, and any improvements or structures on the property. This ensures clarity regarding the exact location and characteristics of the property. 3. Purchase Price and Payment Terms: The contract states the agreed-upon purchase price for the commercial lot or land. It includes details of the payment terms, such as the amount of the earnest money deposit, the remaining balance, and the method and timeline of payments. 4. Due Diligence Period: This period allows the buyer to conduct inspections, surveys, or any other necessary investigations to evaluate the property's condition, zoning restrictions, environmental concerns, or any potential issues. If unsatisfactory conditions are found, the buyer may negotiate repairs or terminate the contract within this period. 5. Closing Date and Contingencies: The contract specifies the date by which the sale should be closed. It may include contingencies, such as the buyer's ability to secure financing, obtain necessary permits, or receive required regulatory approvals. 6. Title and Closing: The contract addresses the process of transferring the property title and outlines the responsibilities of each party for closing costs, title insurance, recording fees, and any other expenses associated with the transfer. Different types of Miami-Dade Florida Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land: 1. Basic Contract: This is the standard version of the contract, including all the key elements mentioned above. 2. Additional Clauses: Depending on the specific requirements of the buyer or seller, additional clauses or addendums may be added to modify or supplement the standard contract. These clauses can cover issues such as lease-back agreements, seller financing, or specific contingencies unique to the transaction. It's worth noting that the specific names or variations of the Miami-Dade Florida Contract for the Sale and Purchase of Real Estate NowNo Broke— - Commercial Lot or Land may vary based on the legal documentation used by different parties and legal professionals involved. However, the key elements mentioned above generally apply to such contracts.
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A Florida Real Estate Contract must be in writing and contain the following, in order to be legally binding; The parties to the contract - Buyers and Sellers identification. Identification of the Real Property by means of a legal description and street address.
All real estate contracts must be in writing and must contain: the purchase price, the address and legal description of the property, the closing date, financing terms, disclosures, any special terms and conditions, signatures and initials of both parties, and any contingencies.
Land contracts in Florida are a perfectly legal and binding alternative to traditional real estate financing methods.
If an offer was made and accepted in writing, and then the parties intended to carry out the agreement, a valid contract may have existed even if one of the parties never signed the final deal. A breach of contract claim could still be pursued against a non-signing party. Actions matter more than a signature.
Required Elements of a Real Estate Contract To establish legality, a real estate contract must include a legal purpose, legally competent parties, agreement by offer and acceptance, consideration, and consent.
The ?AS IS? Heading It is in fact one of the most common standard contracts used in Florida. The ?AS IS? Contract simply places no repair obligations on the seller, while the Standard Contract has default terms requiring that the seller make certain types of repairs up to a certain dollar amount.
While Florida law requires no particular form of contract for a real estate transaction, the FR/BAR Contract forms are the most utilized and well-recognized residential contract forms in Florida.
The Five Elements of a Contract Offer. Acceptance. Consideration. Capacity. Lawful Purpose.