In proper order of a Florida sales contract the earnest money deposit has to be in line with the offer. If not more than likely your offer will be countered or refused. For example a contract price of 700,000 home and 500.00 deposit wont work. Deposit is to be held in escrow at title company or at an attorney office.You need to understand the dynamics from your realtor on this. Time of acceptance is very important, this gives a window or date you need to have an answer back on your offer. Closing date can be on or before date entered. If any issues arise you may have an addendum provided in a timely manner. Another item if property going to be vacant once sold. If not there are common dynamics need to be put on contract. Typically buyer will live in home. Financing if pre approval is necessary or Cash is always acceptable and typically seller uses their title company title company. Home warranty are not mandatory. When buying cash survey is not required.
Most certainly these documents are very important. They disclose all repairs and conditions of home since owner has lived in home to the best of their knowledge. Every property is different. On residential homes, look for seller disclosure, homeowners association are the most common disclosures. I highly suggest hiring a licensed home inspection, on average 300-500 depending on home. This is well worth the money and will give you peace of mind of home you consider purchasing. Walk thru are necessary to determine all is in working condition and all items in place as per your contract. and scheduled with all parties. All if any open permits seller deliver to buyer if any. This is very important that both parties are aware.
Everything needs to be put in writing, signed, initialed and dated. Time is of essence when producing documents. This helps the process moves much faster and close the deal. This is a quick snapshot of the nuts and bolts of a Florida contract that must be accomplished. Commercial and rental contracts are just as important. Any further questions feel free to reach out at 407 479-8583 and Facebook Kevin Sells Florida and Kevin Selling Florida.