FAR/BAR AS-IS Contract Basics for Florida Sellers and Buyers

The FAR/BAR AS-IS Residential Contract for Sale and Purchase is widely used in Florida, but “AS-IS” does not mean “anything goes.” The contract contains specific rights, obligations and deadlines that both parties should understand.

This article is general educational information, not legal advice. Contract interpretation and legal questions should be directed to a qualified Florida real estate attorney.

The effective date controls many deadlines

Once the contract becomes effective, multiple timelines may begin running. Deposit delivery, inspections, financing and closing-related obligations can all depend on contract dates. Missing a deadline can have consequences.

Deposits matter

The contract identifies deposit amounts and when they are due. Buyers should understand that the existence of a contract and the obligation to deliver a deposit are separate issues. Sellers should also understand how escrow disputes are handled if a transaction does not close.

The inspection period is a major buyer protection

Under the AS-IS form, the buyer typically receives a negotiated inspection period. The exact language and deadlines should be reviewed carefully. Buyers should schedule inspections promptly rather than waiting until the end of the period.

Financing terms affect the deal

If financing is part of the contract, the loan type, deadlines and related obligations matter. A buyer’s preapproval does not eliminate the need to comply with the contract’s financing provisions.

Seller disclosure obligations still exist

“AS-IS” does not automatically remove a seller’s obligation to disclose known facts that materially affect the value of the property and are not readily observable, subject to Florida law and the circumstances of the transaction.

Do not rely on verbal changes

Real estate contracts and amendments should be handled in writing. If a term changes, the parties should make sure the written agreement reflects the actual understanding.

A good real estate professional can explain the transaction process and help track deadlines, but legal interpretation belongs with an attorney. When in doubt, get legal advice before signing or waiving rights.