Florida Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building

State:
Multi-State
Control #:
US-01355BG
Format:
Word; 
Rich Text
Instant download

Description

A condominium is a combination of co-ownership and individual ownership. Those who own an apartment or a condominium are co-owners of the land and of the halls, lobby, and other common areas, but each apartment or condominium unit in the building is individually owned. This Agreement for the Sale and Purchase of a Condominium Unit is similar to an agreement for the sale and purchase of a lot and building.


Mixed-use development is the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building
  • Preview Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building

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FAQ

In 2013, the Florida Supreme Court ruled that any verbal promise regarding a real estate contract is not enforceable unless it is in writing and signed by both parties.

Florida has adopted that requirement by statute. All real estate purchase and sale agreements in Florida must be in writing. If the contract is not in writing, even if a deposit is made and the parties move toward a closing, the agreement will be unenforceable.

In Florida, real estate sold 'as is' means it's sold in the current condition. If the buyer inspects the property and notices a huge problem or the seller informs them of a potential problem, then the seller need not worry. The seller will not need to make repairs, regardless of their severity.

The contract must include consideration. Consideration is anything of legal value that is offered in exchange by one party for something of value from another party. Common forms of consideration include money, property in exchange, or a promise to perform. Without consideration, a contract is not legally enforceable.

Your sale and purchase agreement should include the following:Your name(s) and the names of the seller(s).The address of the property.The type of title (for example, freehold or leasehold).The price.Any deposit you must pay.Any chattels being sold with the property (for example, whiteware or curtains).More items...

If goods are sold partly for goods and partly for money, the contract is sale. Example: A sell his Car to M for Rs 3 lac. It is a contract of sale because here the subject matter is car which is moveable thing. 6: Sale and Agreement to sell: The term contract of sale includes both sale and an agreement to sell.

The most important sections include:Offer & closing dates.Legal names of the buyer(s) & seller(s)Property address, frontage, and legal description.Offer price & deposit amount.Irrevocable date for when the offer is good until.Chattels & fixtures included and not included in the sale.Rental items included in the sale.More items...

These include:The names of the vendor and purchaser.The address of the property.The deposit amount and due date.The sale price.The date of the property settlement and whether there are any conditions.Whether the property is available as 'vacant possession' or 'subject to a lease'More items...

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 real estate purchase agreement.Identify the address of the property being purchased, including all required legal descriptions.Identify the names and addresses of both the buyer and the seller.Detail the price of the property and the terms of the purchase.Set the closing date and closing costs.More items...

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Florida Agreement for the Sale and Purchase of a Condominium Unit in a Mixed Use Development Building