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FAR/BAR Residential Contract and FAR/BAR “As Is” Residential Contract Revised as of June 14, 2019

The Florida Realtors / Florida Bar (“FARBAR”) Residential Contract for Sale and Purchase (5x), and the “AS IS” Residential Contract for Sale and Purchase have been updated as of June 14, 2019. The new revised versions are identifiable by “5x” and “6/19” notations, which can be found in the lower left-hand corner of each contract. The changes to both are minimal and result from revisions to Miami-Dade County’s county code as it pertains to seller disclosure of special taxing districts. Additionally, a new rider has been created for use when certain properties located in Miami-Dade are being sold. Paragraph 19 of each of the contracts has been revised to include a reference to the newly-created Rider: “CC. Miami-Dade County Special Taxing District Disclosure.”

In other words, unless the Florida real property subject to the contract is located in Miami-Dade County, the changes will not affect you.

If you are affected by the changes, The Miami Association of Realtors has provided information regarding the ordinance requirements, and details on how to locate special taxing district information, which is available on its website [April, 2020 update: the page on no longer exists].

If you are in need of legal assistance to draft or negotiate a real estate contract, you should contact a Florida real estate attorney such as Joseph Battaglia today.

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