Why we love the FAR CRSP-13 contract
Florida has several Florida-specific contract templates available for use, but only the CRSP-13 captures a special place in our heart. This contract covers all the issues that are likely to occur in a transaction and is very buyer-friendly. Here are the top reasons we enjoy having this contract as the road map for a transaction:
- It clarifies whether a deposit will accompany an offer or is to be provided upon acceptance of the offer
- The financing contingency timelines and when a buyer is obligated to close with or without a loan, are clearly outlined.
- Specifies that buyer will pay the cost to check for open permits and code violations on the property
- Outlines who pays for what costs
- Clarifies that the seller will have to repair up to a specified amount warranted items and close out any existing permits or code violations.
- Specifies what the warranted items are i.e. major appliances, heating, cooling, roofing etc.
- Clarifies how special assessments by Public Bodies (also known and CDD) will be handled
- The property tax disclosure section explains that buyer should not rely on Seller’s current property tax amounts in determining their future tax liability.
- Times periods are computed in business days, allowing buyers more time to complete their inspections, financing etc.
- States that the contract cannot be assigned, unless otherwise specified. This prevents property flipping and protects both sellers and unknowing buyers.
Using this version of the contract provides buyers and sellers excellent guidelines for their transaction.
For a complete sample copy of the contract CRSP-13 contract.
For a complimentary contract review please contact us at 305-271-0100×701 or [email protected].
Legal disclaimer: The Closing Company is not providing legal or tax advice. Please consult with a licensed Attorney for legal advice or before signing any legal documents. Please consult with a CPA for tax planning and tax advice
