The Latest Version of the Florida Association of Realtors Real Estate Contract (FAR-9) went into effect on May 1, 2007. There are some "sweeping" changes that every Buyer and Seller in the State of Florida should be aware of before entering into a contract. For a copy of the contract, to follow along with the changes as I discuss them, click here.
The most significant changes to the contract deal with improvements to the property (additions, fences, pools, etc.) and whether, or not, those improvements were properly permitted and the final inspections for the permits completed. It is very important to note that these improvements may have been done PRIOR to this seller's ownership of the property, but the current owner is held responsible for insuring that all improvements to the property were properly permitted.
Read the rest of the story at The Real Estate Sizzle
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