Minor Florida Realtors Form Changes in Works
On June 14, the Florida Realtors/Florida Bar Residential Contract for Sale and Purchase, its As Is companion, and all Comprehensive Riders to the Residential Contract for Sale and Purchase Contract will be updated.
The changes are being made because a new rider has been created for use when certain properties located in Miami-Dade County are sold. The Miami Association of Realtors has information regarding the ordinance requirements posted on its website, including details on how to locate special taxing district information.
Changes to FloridaRealtors/FloridaBar contracts
- Paragraph 19: Addenda
A new checkbox will appear in the last position of Paragraph 19, entitled “Addenda” at the bottom of the third column of listed riders. It’s labeled “CC. Miami-Dade County Special Taxing District Disclosure.” This box should be checked if the transaction is for the sale of certain property located in Miami-Dade County. (See Rider CC. for details.)
- New form numbers and revision dates
The revised residential contract forms will reflect a 6/19 revision date and be marked as FloridaRealtors/FloridaBar-5x, ASIS-5x, and the comprehensive riders will be labeled as CR-5x within the footer of the form page. These 5x forms will replace the existing Florida Realtors/FloridaBar-5 and ASIS-5 and all of the CR-5s.
- New rider: CC. Miami-Dade County Special Taxing District Disclosure
Note: You will be able to auto-populate the names of the parties and the address of the property on the electronic version of the CC. Miami-Dade County Special Taxing District Disclosure, but the seller should complete the disclosure, similar to the Real Property Disclosure form.
Florida Realtors Contract for Residential Sale and Purchase (CRSP) and Vacant Land Contract Addendum
If you’re using the CRSP or Vacant Land contract in a transaction, the contracts themselves have not been modified. Instead, these two contracts have a separate addendum for the seller to use to make this disclosure, which can be referred to in the additional terms or by checking the “other” box in the Addenda section of the contract.
The form is entitled “Miami-Dade County Special Taxing District Addendum.” Similar to the FloridaRealtors/FloridaBar version, aside from the names and address sections, this form can only be electronically completed by the seller.