Orlando-Area Real Estate Contract Law Attorneys

Pohl & Short, P.A.'s real estate law practice benefits from and complements the firm’s other major practice areas. Our real estate lawyers are ready to guide you in a timely and efficient manner.

To schedule your appointment about residential or commercial real estate contract law, contact us by phone or e-mail.

Attorneys Highly Experienced in Real Estate Contract Law

Founding partner Frank L. Pohl has published numerous articles about the law of real estate contracts and the resolution of disputes over contract terms. He and our other real estate attorneys provide quality representation while making sure there is easy communication and coordination between you and our attorneys.

Real estate contracts (sometimes called real estate purchase and sale agreements) are the primary tool used to transfer ownership of real property. Although no particular format is required, most realtors and real estate attorneys use standard forms approved by the Florida Association of Realtors and the Florida Bar (FAR/BAR contracts).

Real estate contracts are technical instruments which require specific attention to detail. Buyers and sellers of real estate must ensure they understand their rights and obligations before signing any contract, and should seek competent legal advice.

Standard or Required Terms in Real Estate Contracts

Real estate contracts must be in writing and signed by all parties. They contain a number of important terms, including several legally binding deadlines. Failure to meet these deadlines can cause termination of the contract and surrender of one party's right to the earnest money deposit.

Common required or standard sections and terms in Florida real estate contracts include:

1) Confirmed identities of all sellers. The contract could be unenforceable if a seller is not properly identified, or if one of the record owners doesn't sign the contract.

2) Confirmed identities of all of the buyers. If the real estate contract is non-transferrable (as a result of a contract term), the contract could be void as to any buyers not properly identified.

3) A complete legal description of the property, generally provided by a surveyor.

4) The purchase price. This is a business calculation, typically determined by a property appraisal, although it can also be protected via contract terms.

5) The amount of the buyer’s deposit or “earnest money,” which is held in escrow (five to ten percent is customary).

6) Acceptable financing terms and a deadline by which the buyer must apply for the loan. The buyer must then use reasonable diligence to obtain the loan approval and, if that loan approval cannot be obtained within the specified time period, notify the seller.

7) Whether the seller or buyer is to obtain a commitment for and pay for title insurance, along with deadlines for presenting the commitment, for raising any objections, and responding to any objections raised.

8) The closing date. Real estate contracts establish a closing date, which is the date upon which the parties are to complete the transaction.

Call or e-mail Pohl & Short to schedule an appointment about a question of real estate contract law or real property transaction.