When Does An Offer Become a Contract in a Real Estate Transaction?
There is not a day go by when I receive email about questions buyer and seller have. As a licensed Florida Real Estate Broker, I try to help educate buyers and sellers when it comes to the real estate forms without giving legal advice. When I meet with buyers who are looking for home for sale here in Lakeland FL, I will email them a blank copy of the "AS IS" Residential Contract for Sale and Purchase so they can familiarize themselves with the contract that is widely used by Realtors® within the State of Florida and if necessary seek the advice of an attorney.
I just received an email where a consumer was asking me, when does an offer become a contract in a real estate transaction?
A signed offer by the buyer submitted to the seller in a Florida real estate transaction must be accepted, signed and accepted by the seller, a fully executed copy of the Florida residential for sale and purchase contract must delivered to the buyer within a specified time specified in the contract.
I would like to encourage everyone to be prepared when it comes to either sale or buy their Lakeland FL home. So for that reason, I have enclosed the current version of the "AS IS" Residential Contract for Sale and Purchase that is being widely used in the State of Florida. As a Lakeland FL Buyer, you want to be prepared when making an offer, such as time frames for the inspections, financing, loan approval and closing date. As a Lakeland FL Seller you want also be prepared, such as being knowledgable of the time frame when it comes to making a counter offer. Remember, that "time is of essence"!
I hope you found this post useful! If you need help finding or selling your Lakeland, Florida home, please contact Petra Norris - REALTOR(R) at 863-619-6918. If you’re new to Lakeland, I’d especially like to extend a warm welcome. I value my clients and provide them with honest, reliable service. Allow me to introduce you to the Lakeland FL real estate landscape and all it has to offer.