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CHANGES TO FARBAR AS IS RESIDENTIAL CONTRACT FOR SALE AND PURCHASE, PART 10 OF 10

Posted by Sami Thalji | Dec 08, 2021 | 0 Comments

  • Force Majeure: In Paragraph 18(g) it previously provided that a party was entitled to additional time to perform contractual obligations. It now also provides additional time for a party to perform contractual rights. (An example of an obligation is the buyer making a deposit in a timely manner. The buyer is obligated to do this. An example of a contractual right is the buyer performing a walk through inspection. The buyer has a right to do this but it is not an obligation.) In addition to broadening the scope of the standard, the definition of Force Majeure was expanded. Now, in addition to what was previously covered by the clause, the revised definition of force majeure includes pandemics, epidemics, government shutdowns, governmental actions and mandates and civil unrest. Lastly, new language clarifies that Force Majeure is an event which begins when performance of either a right or an obligation is prevented by the Force Majeure, such as when a hurricane interferes with the performance of a contractual obligation, prior to its making landfall at or near the property).
  • Prorations: The change to Paragraph 18(k) dovetails with the change to Paragraph 9(f) which deletes negotiating special assessments imposed by a special district. Assessments imposed by special districts have been added into this Standard as a prorated item, like assessments by a community development district.
  • Paragraph 18(0): In this paragraph, methods of delivery of notices required by the contract have changed. They may be delivered by email or fax and, as before, by mail or personal delivery. Please note you may no longer deliver notices through electronic media, (except by fax or email); text messaging is not included as a method of delivery. This change was made because texts can disappear over time, making them difficult to use as evidence that notice was given. Since other electronic media were deleted as well, social media postings or any other type of communication not named in this paragraph will not constitute delivery for purposes of giving notice.
  • Addenda: In Paragraph 19, Two (2) new addenda were created for use with the contract. They are: • Rider DD. Seasonal/Vacation Rentals • Rider EE. PACE Disclosure.
  • Counter-Offer/Rejection Paragraph: The counteroffer language was simplified. The box for the seller to check if the offer is rejected has been deleted. Since the seller is not required to indicate in writing that he rejects the offer, this check box was rarely used. It was also a source of frustration for those whose offers were rejected but did not receive a written rejection.

About the Author

Sami Thalji

Sami Thalji is a native Floridian, born in Clearwater and raised in St. Petersburg, Florida. Sami graduated from Osceola High School in Seminole, Florida before attending and receiving both his Bachelor of Science and Juris Doctor from the University of Florida in Ga...

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