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You Can Write the Contract Yourself In Florida, there is no legal requirement to hire an attorney (unlike in many other states), but a real estate attorney can make sure the details are covered completely and correctly, protecting your interests and finances in the process.
While verbal agreements can be enforceable, certain exceptions exist in Florida law. These include real estate agreements, contracts that cannot be performed within one year, agreements for the sale of goods over a certain value, and contracts governed by the Statute of Frauds.
In Florida, the contract used to submit offers is commonly the [?AS IS? Residential Contract for Sale and Purchase] template which is approved by the Florida Realtors and the Florida Bar.
A contract is established when one party offers the exchange and the other accepts the offer. The contract is important because the existence of an offer and acceptance is not enough to make it legally binding?the written contract is what makes the agreement ?official? in terms of contract law in Miami, FL.
The contract must be in writing and it there must be a valid offer for the purchase of the property and the seller needs to accept the offer. Mutual assent. Both parties must agree to enter the contract. Identification.
Under Florida law, contracts involving goods priced at $500 or more, promises to pay the debts of another, promises made in consideration of marriage, and promises that cannot be fulfilled within one year must be written to be valid.
A Florida Real Estate Contract must be in writing and contain the following, in order to be legally binding; The parties to the contract ? Buyers and Sellers identification. Identification of the Real Property by means of a legal description and street address.
Writing- A contract for the purchase and sale of real estate must generally be in writing to be enforceable. Identification of the Parties- The contract must specifically identify the parties to the contract, the buyer and seller. Identification of the Real Property- The contract must identify the real property.