AI Florida Purchase Agreement

ARTICLE I - PARTIES AND PROPERTY

1. Seller

Seller: [[Seller Full Legal Name(s)]], current address [[Seller Current Address]]. If Seller is married, both spouses execute this Agreement unless the Property is separate property.

2. Buyer

Buyer: [[Buyer Full Legal Name(s)]], notice address [[Buyer Notice Address]]. Buyer shall take title in the following manner: [[Sole / Joint Tenants with Right of Survivorship / Tenants in Common / Other Vesting]].

3. Property

The real property located at [[Property Street Address]], [[City]], Florida [[ZIP Code]], County of [[County]], more particularly described as:

Legal Description: [[Full Legal Description or "See attached Exhibit A - Legal Description"]]

Parcel / Tax ID: [[Parcel ID Number]]

The Property includes all improvements, fixtures, and appurtenances. The following items of personal property are included: [[List included appliances, fixtures, etc. or "All items that would normally convey with the real property"]]. Excluded items: [[List excluded or "None"]].

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ARTICLE II - PURCHASE PRICE AND EARNEST MONEY

4. Purchase Price

Total Purchase Price: $[[Purchase Price - Numerals]] (in words: [[Purchase Price in Words]] Dollars).

Payment Breakdown:

5. Earnest Money Deposit

Within [[EMD Deposit Deadline - e.g., 3 business days]] after the Effective Date, Buyer shall deposit $[[Initial EMD Amount]] as earnest money ("Deposit") with [[Escrow Agent - e.g., Title Company Name or Listing Broker's Trust Account]] ("Escrow Agent"). The Deposit shall be held in a federally insured escrow account. Failure to timely deliver the Deposit constitutes a material default by Buyer.

The Deposit shall be disbursed only as provided in this Agreement or by written agreement of the parties or court order. Escrow Agent is authorized to invest the Deposit only as permitted by Florida law.

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ARTICLE III - FINANCING AND APPRAISAL CONTINGENCIES

6. Financing Contingency

☐ This is an all-cash transaction. Buyer has provided or will provide written proof of funds within [[Proof of Funds Deadline - e.g., 5 business days]] after Effective Date.

☐ This Agreement is contingent upon Buyer obtaining a commitment for a first mortgage loan in the amount of approximately $[[Loan Amount]] on terms acceptable to Buyer (the "Financing Contingency").

Buyer shall apply for financing within [[Application Deadline - e.g., 5 business days]] and shall diligently pursue approval. Loan approval / commitment deadline: [[Loan Approval Deadline - e.g., 30 days after Effective Date]].

If Buyer is unable to obtain financing meeting the above terms through no fault of Buyer by the deadline, Buyer may terminate by written notice and receive return of the Deposit. Failure to timely terminate waives the Financing Contingency.

7. Appraisal Contingency

This Agreement is contingent upon the Property appraising for at least the Purchase Price (or such higher amount as required by lender). Appraisal deadline: [[Appraisal Deadline - e.g., 25 days after Effective Date]].

If the appraisal is lower than the Purchase Price and the parties cannot agree on a price reduction or other resolution within [[Appraisal Resolution Period - e.g., 5 business days]] after receipt of appraisal, either party may terminate and the Deposit shall be returned to Buyer.

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ARTICLE IV - INSPECTION AND DUE DILIGENCE

8. Inspection / Due Diligence Period

Buyer shall have a period of [[Inspection Period - typically 10 to 15 days]] after the Effective Date (the "Inspection Period") in which to conduct any and all inspections, tests, surveys, appraisals, and due diligence Buyer deems appropriate, at Buyer's sole expense.

During the Inspection Period, Buyer may terminate this Agreement for any reason or no reason by delivering written notice to Seller. Upon timely termination, the Deposit shall be returned to Buyer and neither party shall have further liability.

After the Inspection Period expires without termination, Buyer accepts the Property in its "AS IS" present condition, subject only to the other terms of this Agreement. Seller has no obligation to make repairs unless separately agreed in writing.

9. Access and Seller Obligations During Inspection

Seller shall provide reasonable access to the Property during the Inspection Period upon reasonable notice. Buyer shall restore the Property to its prior condition after any invasive testing. Buyer and Buyer's inspectors shall carry appropriate insurance.

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ARTICLE V - TITLE, SURVEY, AND CLOSING

10. Title Evidence

Seller shall deliver to Buyer, at least five (5) days before the Closing Date, a current title commitment (or abstract) in the amount of the Purchase Price issued by a Florida-licensed title insurer, together with copies of all recorded documents shown as exceptions. Title shall be marketable and insurable, free and clear of liens and encumbrances except for current taxes, easements, restrictions, and other matters approved by Buyer or shown on the commitment and not objected to.

11. Survey

☐ Buyer waives survey.
☐ Buyer shall obtain a new survey at Buyer's expense by [[Survey Deadline]]. Any encroachments or title defects disclosed by survey shall be treated as title objections.

12. Closing Date and Place

Closing shall occur on or before [[Closing Date]] at the office of the Escrow Agent or such other place as the parties agree. Possession shall be delivered at Closing unless otherwise agreed (see Possession Addendum if attached).

13. Prorations and Closing Costs

Taxes, assessments, rents, interest, HOA dues, and similar items shall be prorated as of the Closing Date on a per diem basis using the actual number of days in the year or month as applicable.

Closing costs shall be allocated in accordance with local custom and the FAR/BAR convention in the county where the Property is located, unless otherwise agreed:

• Seller typically pays: documentary stamp tax on deed, title search/commitment (owner's policy premium often split or per contract), prorated taxes to date of closing.
• Buyer typically pays: intangible tax on mortgage (if any), recording fees for deed/mortgage, lender's title policy premium, survey, inspection costs, loan fees.

Each party pays its own attorney fees if represented.

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ARTICLE VI - CONDOMINIUM / HOA DOCUMENTS (if applicable)

14. Condominium / HOA Approval and Rescission Rights

If the Property is a condominium unit:

• Seller shall deliver the current condominium documents (declaration, bylaws, articles, rules, current budget, and most recent financial statement) within [[Delivery Deadline - e.g., 3 business days]] after Effective Date.
• Pursuant to Florida Statutes §718.503, Buyer shall have three (3) business days after receipt of the condominium documents (or such longer period as provided in the documents or by law) to cancel this Agreement for any reason. Notice of cancellation must be in writing. Upon timely cancellation, the Deposit shall be returned to Buyer.

HOA approval (if required) shall be obtained by [[HOA Approval Deadline]]. Failure to obtain approval through no fault of Buyer permits termination with return of Deposit.

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ARTICLE VII - DEFAULT AND REMEDIES

15. Buyer Default

If Buyer defaults, Seller may, as Seller's sole and exclusive remedy, retain the Deposit as liquidated damages (not as penalty) and terminate this Agreement. Seller waives all other remedies, including specific performance, except as may be available for Buyer's failure to close due to financing issues where Buyer is in default of diligence obligations.

16. Seller Default

If Seller defaults, Buyer may, at Buyer's election:

1. Terminate and receive return of the Deposit plus reimbursement of actual out-of-pocket inspection and loan costs up to a cap of $[[Buyer Cost Cap]]; or
2. Seek specific performance of this Agreement; or
3. Recover damages at law.

17. Dispute Resolution

Any dispute arising out of this Agreement shall first be submitted to mediation (unless waived). If mediation fails, the prevailing party in any litigation or arbitration shall be entitled to recover reasonable attorneys' fees and costs from the other party.

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ARTICLE VIII - REPRESENTATIONS, WARRANTIES, AND DISCLOSURES

18. Seller Representations

Seller represents that, to Seller's actual knowledge:

• There are no pending or threatened condemnation or special assessment proceedings affecting the Property.
• Seller has not received notice of any code violation that remains uncured.
• The Property is not in a flood zone requiring flood insurance unless disclosed.
• All known material latent defects have been disclosed in the Property Disclosure Statement attached or delivered separately.

Buyer acknowledges receipt of the Florida Property Disclosure Statement (or Seller's equivalent disclosures) prior to or with this Agreement.

19. "AS IS" Acknowledgment

Except for the limited representations above and any express written warranties in addenda, the Property is sold "AS IS, WHERE IS," with all faults. Buyer has conducted or has had the opportunity to conduct inspections. No warranty of habitability, merchantability, or fitness is made by Seller except as required by law and not waivable.

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ARTICLE IX - MISCELLANEOUS

20. Notices

All notices under this Agreement shall be in writing and deemed given when (a) personally delivered, (b) sent by certified mail, (c) sent by overnight courier, or (d) sent by email with read receipt or confirmation (if parties have agreed to electronic notice).

21. Time of Essence

Time is of the essence with respect to all dates and deadlines in this Agreement.

22. Entire Agreement; Amendments

This Agreement, including all addenda and exhibits attached or referenced, constitutes the entire agreement. It may be amended only by written instrument signed by both parties.

23. Severability; Governing Law

If any provision is held invalid, the remainder shall remain in full force. This Agreement is governed by the laws of the State of Florida. Venue lies in the county where the Property is located.

24. Electronic Signatures

Electronic signatures and counterparts are valid and binding under the Florida Electronic Signature Act and federal ESIGN Act.

25. Assignment

Buyer may not assign this Agreement without Seller's prior written consent (which shall not be unreasonably withheld).

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ARTICLE X - ADDENDA AND EXHIBITS

The following addenda and exhibits are attached and incorporated:

• Exhibit A: Legal Description (if not in body)
• Property Disclosure Statement
• Lead-Based Paint Disclosure and Receipt (pre-1978)
• Condominium / HOA Documents Receipt and 3-Day Rescission Notice (if applicable)
• Financing Addendum / Pre-Approval Letter
• Inspection Period Addendum
• Other: [[Additional Addenda]]

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SIGNATURES

SELLER:

Signature: _______________________________ Date: [[Date]]

Printed Name: [[Seller 1 Name]]

Signature: _______________________________ Date: [[Date]]

Printed Name: [[Seller 2 Name]]

BUYER:

Signature: _______________________________ Date: [[Date]]

Printed Name: [[Buyer 1 Name]]

Signature: _______________________________ Date: [[Date]]

Printed Name: [[Buyer 2 Name]]

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BROKER / ESCROW ACKNOWLEDGMENT (if applicable)

Listing Broker: [[Brokerage Name]] - License [[ ]]

Selling Broker: [[Brokerage Name]] - License [[ ]]

Earnest Money held by: [[Escrow Agent Name]] - Deposit received $[[ ]] on [[Date]]

Escrow Agent Signature / Acknowledgment: ______________________________ Date: _________

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Sources and Notes (as of June 2026): This Agreement follows the structure and key provisions of the Florida Association of Realtors / Florida Bar ("FAR/BAR") AS IS Residential Contract for Sale and Purchase. Key statutes referenced: Fla. Stat. §718.503 (condominium rescission), §689.261 (HOA disclosure), title and closing customs per local practice. Earnest money is held in escrow; court remedies available on default; title evidence timing and "AS IS" nature are standard. Verify current forms and statutes with a Florida real estate attorney or licensed broker before use. Local variations in closing cost customs and document requirements exist by county.

> Template example - not professional (legal/financial/medical) advice. This is a sample agreement. All user inputs appear as [[merge fields]]. Actual contracts should be reviewed by a Florida-licensed real estate attorney. Laws, forms, and customs change. Use at your own risk.