Don’t blank out on contracts
Some commonly missed and problematic fields in the standard real estate contract include the following:
- time acceptance deadline for offer
- contract assignment options
- loan amount as a % or $ amount
- who selects and pay for title (very unpopular with us)
- acceptable loan loan terms for financing for the buyer
- who pays for public body special assessments
- who pays for Condo/HOA special assessments
- parking space number
- storage space number
- seller financing loan terms
- tenant occupied property
- type of corporate seller/buyer i.e. ” a Florida limited liability company” , “a Delaware Corporation”, “a company formed under the laws of the British Virgin Islands”
- date buyer or seller signed contract (AKA “effective date”)
- realtor commission %
Some examples: 
A few extra check marks can prevent issues and questions as they arise pre-closing. Check away and don’t leave buyers and sellers in the dark! Please call us at 305-271-0100 x 701 or [email protected] for a complimentary contract review. Disclaimer: The Closing Company, Inc. is not a law firm and is not providing legal or tax advice in this publication. For legal advice, please consult with a licensed Attorney. For tax advice, consult with a Certified Public Accountant.
