Florida Realtors/Florida Bar · Rev. 2/26
The FAR/BAR contract: every deadline, and who pays what
The short answer
The FAR/BAR contract runs on defaults. With every blank left empty, the buyer has 15 days to inspect and 30 to get loan approval, the title commitment is due 15 days before closing, the buyer then has 5 days to object and the seller 30 to cure, and on the standard form the seller repairs up to 1.5% of the price under each of three limits. Days are calendar days.
- Inspection Period
- 15 days
- Loan Approval Period
- 30 days
- Title commitment
- 15 days before closing
- Repair limits, standard form
- 1.5% of the price, each
The defaults the form writes beside each blank. A number written into the blank replaces them, and riders and handwritten terms control the printed form (Standard R).
Every deadline in the contract
Each deadline on a sample sale, coloured by who has to act. The seller’s 30-day title cure is the one bar that runs past the closing line: a title problem found at the deadline cannot be cured by the closing date the rest of the contract keeps.
- Initial deposit to the escrow agent
- Apply for the loan
- Copies of the seller’s owner’s policy and any survey
- Additional deposit
- Inspection Period
- Cancel over flood zone, elevation or flood insurance
- Seller repairs, estimates or re-inspects
- Loan Approval Period, ending in a written notice
- Title commitment to the buyer (the “Title Evidence Deadline”)
- Seller may cancel after a Loan Approval Period with no notice
- Buyer’s written title objections
- Buyer’s survey
- Open and expired permits closed, up to the Permit Limit
- Walk-through
- Seller’s “Cure Period” for title defects
- Buyer acts
- Seller acts
- Closing agent delivers
- A period that runs
- Due by that day
An example, not a schedule: the contract signed on day 0, closing on day 45, every blank left empty, a financed sale with the buyer’s inspection notice on day 15 and title objections on the last day allowed. Calendar days; a deadline on a weekend or federal holiday moves to the next day that is neither (Standard F).
Both versions, in the form’s own order of counting. The period is the one the form supplies when a blank is left empty, or the fixed one where there is no blank.
| Deadline | Period | Who | If it is missed |
|---|---|---|---|
| Counted from the Effective Date | |||
| Initial deposit to the escrow agent¶2(a) | 3 days after the Effective Date, unless it came with the offer · if left blank | Buyer | A buyer default under ¶15(a) |
| Apply for the loan¶8(b)(i) | 5 days after the Effective Date · if left blank | Buyer | A lack of good faith and diligent effort to get the loan is a default |
| Copies of the seller’s owner’s policy and any survey¶9(c), ¶9(d) | 5 days after the Effective Date | Seller | No consequence of its own in the form |
| Leases and occupancy terms, where ¶6(b) is checked¶6(b) | 5 days after the Effective Date | Seller | No consequence of its own in the form |
| Additional deposit¶2(b) | 10 days after the Effective Date · if left blank | Buyer | A buyer default under ¶15(a) |
| Inspection Period¶12(a) | 15 days after the Effective Date · if left blank | Buyer | Standard form: repairs to anything not inspected and reported in writing are waived. “AS IS”: the right to cancel ends and the buyer accepts the condition |
| Cancel over flood zone, elevation or flood insurance¶10(d) | 20 days after the Effective Date · if left blank | Buyer | The buyer accepts the elevation and the flood zone |
| Loan Approval Period, ending in a written notice¶8(b) | 30 days after the Effective Date · if left blank | Buyer | With no notice, the contract goes on as a cash sale (¶8(b)(v)) |
| Counted back from the Closing Date | |||
| Title commitment to the buyer (the “Title Evidence Deadline”)¶9(c) | 15 days before the Closing Date, or 5 on a cash sale · if left blank | Closing agent | If it arrives under 5 days before closing, the buyer may extend closing up to 5 days after receipt (Standard A(ii)) |
| Tenant estoppel letters, or the seller’s affidavitStandard D | 10 days before the Closing Date | Seller | No consequence of its own in the form |
| Buyer’s survey¶9(d) | 5 days before the Closing Date | Buyer | No consequence of its own in the form |
| Open and expired permits closed, up to the Permit Limit¶12(d)(ii) · standard only | 5 days before the Closing Date | Seller | A government delay extends closing up to 10 days; after that either side may cancel |
| Information for a FinCEN real estate report, where one is requiredStandard I(iii) | The day before closing | Both | No consequence of its own in the form |
| Walk-through¶12(e) | The day before closing, or closing day before closing | Buyer | No consequence of its own in the form |
| Counted from something else happening | |||
| Seller may cancel after a Loan Approval Period with no notice¶8(b)(v) | 3 days after the Loan Approval Period ends | Seller | The contract continues as a cash sale |
| Accept a counter-offer¶3(a) | 2 days after it is delivered | Both | The time for accepting it has run |
| Cancel over the leases¶6(b) | 5 days after receiving them | Buyer | No consequence of its own in the form |
| Seller repairs, estimates or re-inspects¶12(b)–(d) · standard only | 10 days after the buyer’s inspection notice | Seller | No consequence of its own in the form |
| Elections when repairs cost more than a limit¶12(b)–(d) · standard only | 5 days after the last estimate | Both | Either side may cancel and the deposit goes back to the buyer |
| Buyer’s written title objectionsStandard A(ii) | 5 days after receiving the commitment | Buyer | The buyer accepts title as it is |
| Seller’s “Cure Period” for title defectsStandard A(ii) | 30 days after the buyer’s objections | Seller | The buyer has 5 days to extend up to 120 days, accept title as it is, or cancel with the deposit back |
| Buyer’s notice of survey problemsStandard B | 5 days after receiving the survey, and no later than closing | Buyer | Only matters noticed in time become title defects under Standard A |
| Closing extended for the lender’s Closing Disclosure timing¶5(a) | Up to 7 days | Both | No consequence of its own in the form |
| Hurricane or other force majeureStandard G | Deadlines extend up to 7 days after it ends; either side may cancel if it runs more than 30 days past closing | Both | No consequence of its own in the form |
| Settle a deposit dispute before mediation¶16(a) | 10 days after conflicting demands | Both | The dispute goes to mediation before any lawsuit |
Your own dates. The deadline calculator works out every one of these from the Effective Date and the Closing Date, with weekends and federal holidays applied, and puts them in your calendar.
Who pays what
Paragraph 9 decides, line by line, and the parties can change any of it in writing. The owner’s policy and the searches follow the box checked in 9(c).
The seller pays
- Documentary stamp tax and any surtax on the deed
- Owner’s policy and title search, on box 9(c)(i)
- Title search (up to a cap), tax search, on box 9(c)(iii)
- Municipal lien search, on box 9(c)(i) or (iii)
- Association estoppel fees
- Recording and other charges to cure title
- FIRPTA withholding and reporting charges
- Seller’s attorney and the seller’s own closing services
The buyer pays
- Mortgage stamp tax, intangible tax and mortgage recording
- Recording the deed
- Owner’s policy, search and municipal lien search, on box 9(c)(ii); the owner’s premium on 9(c)(iii)
- Lender’s policy and endorsements
- Survey and any elevation certificate
- Association application and transfer fees
- Loan costs, appraisal, inspections and all property insurance
- Buyer’s attorney and the buyer’s own closing services
Who chooses the title company
- Box 9(c)(i)Seller chooses the closing agentand pays for the owner’s policy and the search. The buyer pays for any lender’s policy.
- Box 9(c)(ii)Buyer chooses the closing agentand pays for the owner’s policy, the search and any lender’s policy.
- Box 9(c)(iii)Buyer chooses: the Miami-Dade/Broward provisionThe buyer pays both premiums; the seller pays the title search (up to $200 if left blank), the tax search and the municipal lien search.
The form supplies no default among the three, so one should be checked. Whoever pays for the owner’s policy designates the closing agent (Standard I). Which box is customary depends on the county: who pays in each of the 67. The figures are on the title insurance and doc stamp calculators.
Standard or “AS IS”: what changes
Everything else, the deposits, financing, costs, title, closing and every Standard, reads the same on both.
Repairs
- Standard (7x)
- The seller repairs up to three limits, each 1.5% of the price if left blank: general repairs, wood-destroying organisms and permits (¶9(a), ¶12)
- “AS IS” (ASIS-7x)
- None. The seller only keeps the property as it was on the Effective Date (¶11)
What the Inspection Period gives the buyer
- Standard (7x)
- A written repair notice, then elections and cancellation rights past the limits (¶12(b)–(d))
- “AS IS” (ASIS-7x)
- A right to cancel for any reason, by written notice before the period ends (¶12(a))
Open permits
- Standard (7x)
- The seller closes them, up to the Permit Limit, 5 days before closing (¶12(d))
- “AS IS” (ASIS-7x)
- The buyer’s; the seller cooperates but need not spend money (¶12(c))
Seller’s disclosure
- Standard (7x)
- No known undisclosed facts materially affecting value that are not readily observable (¶10(j))
- “AS IS” (ASIS-7x)
- The same, plus no other warranty or representation about condition or history (¶10(j))
The standard form also offers an “As Is” rider (Rider K), so the riders checked in ¶19 are part of the answer.
Find a paragraph
A line on every paragraph and every Standard. The numbers are the same on both versions.
Paragraphs 1 to 20
20 paragraphs
Property description
The land, fixtures and listed personal property; exclusions go in 1(e).
Purchase price
Price, deposits and escrow agent, loan amount, balance by wire or collected funds.
Acceptance; Effective Date
The last signature or initial, delivered, sets the Effective Date.
Closing; Closing Date
Closing happens when funds are collected and documents delivered.
Extension of Closing Date
Up to 7 days for the lender’s Closing Disclosure timing; force majeure under Standard G.
Occupancy and possession
Vacant at closing unless 6(b) is checked for leases; Riders T and U.
Assignability
Three boxes; with none checked the buyer may not assign.
Financing
Cash, or a loan contingency with a 30-day Loan Approval Period and written notices.
Closing costs, title, survey
Who pays what, the 9(c) title election, survey, home warranty, special assessments. Who pays by county
Disclosures
Radon, permits, mold, flood, energy, lead paint, HOA, property tax, FIRPTA, seller.
Property maintenance
The seller keeps the property, lawn and pool as they were on the Effective Date.
Inspection and repair
Standard: repairs up to limits. “AS IS”: a right to cancel. Walk-through in 12(e). Open permits
Escrow agent
Holds the deposit in Florida; on conflicting demands, holds it or interpleads. Deposit disputes
Broker liability
Verify facts with professionals; the parties indemnify the brokers.
Default
Seller keeps the deposit, or sues to enforce; buyer gets it back and may sue.
Dispute resolution
10 days to settle a deposit dispute, then mediation, then court.
Attorney’s fees
Mediation fee split; the winner of a lawsuit recovers fees.
Standards A–V
The standing terms below.
Addenda and riders
Check-boxes for Riders A (condominium) to GG (buyer’s broker compensation).
Additional terms
Anything typed or written in, which controls the printed form (Standard R).
Standards A to V (paragraph 18)
22 Standards
Title
Marketable title subject to six listed matters; 5 days to object, 30 to cure. Title insurance guide
Survey
Encroachments noticed within 5 days become title defects.
Ingress and egress
The seller represents legal access, insurable without exception. No legal access
Lease information
Tenant estoppel letters 10 days before closing.
Liens
Seller’s lien affidavit; waivers for work in the last 90 days.
Time
Time is of the essence; calendar days; weekends and federal holidays roll forward.
Force majeure
Hurricanes, insurance unavailable: up to 7 days more; cancel if over 30 days past closing.
Conveyance
Statutory warranty deed, or a fiduciary’s deed; bill of sale on request.
Closing location, documents, procedure
The owner’s-policy payer picks the agent; FinCEN paragraph; disbursement at closing.
Escrow closing procedure
Proceeds held up to 10 days, only where the commitment lacks gap coverage. Fla. Stat. § 627.7841
Prorations; credits
Taxes and recurring items prorated through the day before closing. Seller net sheet
Access
Utilities on and access for appraisal, inspections and walk-through.
Risk of loss
Seller restores damage up to 1.5% of the price; above it, the buyer chooses.
1031 exchange
The other side cooperates, at no cost; closing is not delayed for it. 1031 closing guide
Notices; not recordable
Written notice by mail, fax, hand or email, to a party, attorney or broker.
Integration; modification
The whole agreement; changes only in a signed writing.
Waiver
Not insisting on one term waives no other.
Riders and handwritten terms
They control the printed form where they conflict.
Collection
Funds count once actually collected; closing can wait for them.
Reserved
Reserved; no text.
Applicable law and venue
Florida law; disputes in the county where the property is.
FIRPTA withholding
Up to 15% withheld from a foreign seller unless an exemption or certificate applies. FIRPTA figures
Florida Realtors publishes the February 2026 redlines of the standard and “AS IS” forms; this page describes them in its own words. The statutes behind the form: ¶9(c) Fla. Stat. § 627.7711(1)(a), closing services; ¶10(a) Fla. Stat. § 404.056(5), radon; ¶10(b) Fla. Stat. § 553.79, permits; ¶10(e) Fla. Stat. § 553.996, energy brochure; ¶10(g) Fla. Stat. § 720.401, HOA summary; ¶10(h) Fla. Stat. § 689.261, property tax; ¶13 Fla. Stat. § 475.25(1)(d), broker escrow; Standard I Fla. Stat. § 627.7841, gap coverage; Standard O Fla. Stat. § 668.004, e-signatures.
What Florida law adds, and what changed in 2026
Rev. 2/26 changed two things on both forms: the FinCEN paragraph in Standard I(iii), and the name of Rider EE, from “PACE” to “Qualifying Improvements” Disclosure.
- Flood disclosure
The seller completes the statute’s flood disclosure at or before signing: past flood damage, claims and federal assistance. The contract’s ¶10(d) is not it.
Fla. Stat. § 689.302 - HOA disclosure summary
Due before the buyer signs. If it was not given, the buyer may cancel within 3 days of receiving it, or before closing if sooner.
Fla. Stat. § 720.401 - Condominium documents
Unless the buyer had them more than 7 days (not counting weekends and holidays) before signing, the buyer may cancel within 7 such days of signing and receiving them. The Condominium Rider carries the clause.
Fla. Stat. § 718.503(2) - Foreign-ownership affidavit
Every buyer signs one at the time of purchase. The form’s signature page carries the notice; a missing affidavit does not affect title.
Fla. Stat. § 692.204(6) - FinCEN reporting
New in Rev. 2/26 (Standard I(iii)). The rule was vacated on 19 March 2026; FinCEN says no report is required while that order stands, and has appealed.
FinCEN
Common questions
What is the FAR/BAR contract?
The Residential Contract For Sale And Purchase approved by Florida Realtors and The Florida Bar, the form most Florida home sales are written on. The standard version has the seller repair up to set limits; the “AS IS” version lets the buyer cancel during the Inspection Period instead. The current revision of both is Rev. 2/26, February 2026.
How long is the inspection period on a FAR/BAR contract?
15 days after the Effective Date if the blank in paragraph 12(a) is left empty, on both versions. On the “AS IS” form the buyer’s written notice cancelling the contract must reach the seller before the period ends.
When is the Effective Date?
The day the last of the buyer and seller signs or initials the offer or final counter-offer and delivers it (paragraph 3(b)). Most deadlines count from it in calendar days, and one that falls on a weekend or federal holiday moves to the next day that is neither (Standard F).
Do FAR/BAR deadlines expire at 5 p.m.?
Not under the current form. Rev. 2/26 sets no 5:00 p.m. cutoff and no clock time for any deadline. Standard F counts calendar days where the property is located, and a deadline that falls on a Saturday, Sunday or federal holiday moves to the next calendar day that is none of those. The revision is printed at the foot of every page of the signed contract.
What happens if the buyer misses the loan approval deadline?
If no written notice reaches the seller before the Loan Approval Period ends, 30 days if left blank, the contract goes on as a cash sale, and the seller has 3 days to cancel and return the deposit (paragraph 8(b)(v)).
Who chooses the title company on a FAR/BAR contract?
Whoever pays for the owner’s title policy under paragraph 9(c) designates the closing agent (Standard I). The form has three boxes and no default: the seller on box (i), the buyer on boxes (ii) and (iii), the last being the Miami-Dade/Broward provision.
What does a blank left empty mean?
For most blanks the form prints a default beside it: 3 days for the initial deposit, 10 for the additional deposit, 15 for inspections, 20 for the flood election, 30 for loan approval, 15 days before closing for the title commitment, and 1.5% of the price for each repair limit on the standard form.
Is the FAR/BAR contract recorded?
No. Standard O forbids recording the contract or any notice of it. The deed is what is recorded.
This page explains the printed form. The signed contract, with its riders and addenda, decides a particular sale, and a question about what it means is for the parties’ attorneys.
Keep reading
Guides
- Florida title insurance: the complete 2026 guide for buyers, sellers and Realtors
- How long does a Florida title search and closing take?
- How much can a Florida condo or HOA charge for an estoppel certificate?
- How to verify a Florida title company, and keep your closing money safe
- The Florida 1031 exchange closing guide
- The Florida Title Problems Guide: 25 issues that can delay a closing