The Florida Realtors / Florida Bar (“FARBAR”) Residential Contract for Sale and Purchase and the “AS IS” Residential Contract for Sale and Purchase have been updated as of August 1, 2024. The new revised versions are identifiable by “6xx” and “Rev. 8/24” notations towards the lower left-hand corner of each contract.
What Changed?
The changes to both versions of the FAR/BAR Contracts result from the aftereffects of the groundbreaking National Association of Realtors (“NAR”) Settlement. Despite the historic nature of the settlement that gave rise to this change to the FAR/BAR contract, the change, itself, is of minor consequence.
Version 6xx of the FAR/BAR contracts differ from their predecessors in that Line 643, found on the last page of the contract, has been changed to remove the reference to “MLS” consistent with NAR’s agreement within the settlement to eliminate any offers of compensation from the MLS (“multiple listing service”).
