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FORM CHANGE: Florida Realtors ‘tweaks’ current forms

 

ORLANDO, Fla. – July 3, 2017 – The following existing forms were recently modified, and the updated versions are available through Form Simplicity and other Florida Realtors form vendors:

Contract to Lease – Provisions were added to the form regarding approval of service member rental applications and commission(s) to be paid upon signing of an initial lease, lease renewal and sale/purchase.

Exclusive Right to Lease – An additional option was added for compensation to a cooperating brokerage – an amount equal to a certain percent of the first month's rent. Language was also added regarding approval of service member rental applications.

Contract for Residential Sale and Purchase – Additional lines were added to the contract to allow for the respective parties' agent contact information.

Addendum to Contract – The existing document was clarified to explain that the Effective Date of the contract should be put into the form body.

Vacant Land Contract – Two new provisions were added to the contract regarding attorneys' fees and the seller's ability to counter or reject a buyer's initial offer.

Listing Agreements – Several listing agreements were modified to create a default provision regarding the amount the listing brokerage receives of any retained deposits by the seller. The listings affected are:

  • Exclusive Brokerage Listing Agreement
  • Exclusive Right of Sale Listing Agreement for Commercial Property
  • All versions of the Exclusive Right of Sale Listing Agreement (residential)
  • Vacant Land Listing Agreement

Questions? Call or email Florida Realtors Legal Hotline, a free benefit included with Realtor membership.

© 2017 Florida Realtors

 

Related Topics: Florida Realtors Legal News