Legal Question in Real Estate Law in Florida

contract for sale or purchase condo

I am purchasing a condominium in Florida. I need a contract drawn up, but am not sure if a condo is different than a house (for contract)

Asked on 9/19/06, 12:46 pm

3 Answers from Attorneys

Robert Stanz Hardin & Stanz, P.A.

Re: contract for sale or purchase condo

I recommend that you use the FAR/BAR Residential AS IS contract with the Condominium Addendum. Condominiums are subject to rules and laws that do not usually apply to single family residences.

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Answered on 9/19/06, 1:05 pm

Scott R. Jay Law Offices of Scott R. Jay

Re: contract for sale or purchase condo

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

Yes and no. While the basic format of the Contract is the same, there are certain items that should be contained in an Addendum for a Condominium purchase. These items which must be covered can cost thousands of dollars if not handled properly. An example would be the area of responsibility for special assessments which may arise either before or during the term of the Contract.

The parties should discuss and agree upon who will be responsible to pay which expenses including the required estoppel information from the Association and application fees.

I strongly suggest that you consult and retain a qualified real estate attorney. The reasonable fee that you may pay may save you substantial monies if an error is made.

Also, you will need to have someone review the title information and should obtain title insurance. An attorney is generally no more costly than using a title company which may not be affiliated with an attorney.

This is probably one of the most expensive purchases you will ever make. Be sure to protect yourself properly with legal counsel.

Scott R. Jay, Esq.

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Answered on 9/19/06, 1:20 pm
David Slater David P. Slater, Esq.

Re: contract for sale or purchase condo

There are numerous differences in the purchase as Mr. Stanz indicates. Good luck.

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Answered on 9/19/06, 1:38 pm

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