Florida Realtors® has posted PDF versions of the new Florida Realtors/Florida Bar Purchase Contract, As-Is Contract and Comprehensive Rider (formerly known as the FAR/BAR contracts) on floridarealtors.org. The forms will be available in electronic format from Form Simplicity and other forms vendors by the end of July. The Florida Realtors purchase contract, known widely as the FAR contract, remains unchanged and will continue to be available.
“These new forms are the culmination of four years of work by the Joint Attorney/Realtor committee, authors of the FAR/BAR contracts, to create a better tool for Realtors and attorneys alike,” says Marcia Tabak, deputy general counsel of the Florida Realtors. “Some new features include a limited hold harmless and indemnity clause for brokers, an initials box at the bottom of each page and several new riders, including a Short Sale Approval Contingency.”
A summary of the changes to each form accompanies the contract.
To train Realtors on the new forms, Florida Realtors is offering two education sessions during its Annual Convention & Trade Expo in August at the Rosen Shingle Creek resort in Orlando. On Friday, Aug. 27, the Realtor-Attorney Joint Committee will hold a 90-minute program. On Saturday, Aug. 28, Realtors may attend a CE contracts class to learn how to properly fill out the forms.
Questions? Contact the Florida Realtors Legal Hotline at 407) 438-1409, or email your question to Florida Realtors attorneys from the home page of floridarealtors.org.
Source: Florida Realtors®
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