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Orlando Real #11 – Real Estate Contracts

September 4, 2018 – A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate, according to Wikipedia.

If you are looking to buy a home, sell your home or represent someone in a real estate sale, the topic of real estate contracts is a critical component to your real estate transaction.

What are the laws on real estate contracts in Florida?

According to The Florida Bar, “oral contracts are agreements that have been spoken, but not written. Depending on the nature of the transaction, certain types of contracts in Florida are required by law to be in writing in order to be enforceable. For example, contracts related to the sale of real estate or contracts that cannot be performed within one year must be in writing. Generally, other than those required by law to be in writing, oral contracts are enforceable in Florida, especially in situations where one party has performed the obligations of the contract.”

Mark Allen Hayes and Jason Schmidt, CCIM and member of the Forbes Real Estate Council, discuss real estate contracts and share their experiences in this informative video.

Jason says it best. Real estate contracts are “one of those areas where you cannot fake you know what you’re doing.”

Click the video to learn more about real estate contracts.

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