Winter Park Home Magazine - Issue 1 - 2008

Contracts 101 - The Sequel
by Frank L. Pohl, Attorney At Law
Partner, Pohl & Short, P.A., Winter Park

Real estate transactions don't have a required format, even though that perception is often implied due to the extensive use of the standard Florida Association of Realtors and Florida Bar Association (FAR/BAR) approved Contract for Sale and Purchase of real estate. This standardized Contact allows all parties accustomed to residential sales to rely on a set of uniform Standards, which define different terms within the Contract. These terms are generally accepted and understood by real estate attorneys and Realtors. More complex transactions may require additional terminology, which is usually added by formal Amendments to the Contract. More.....