FAR/BAR Contract refers to the form issued by the joint committee of Florida Realtors (formerly known as Florida Association of Realtors) and The Florida Bar that develops real estate forms approved by both organizations. This is an officially licensed form that may be used by real estate brokers, attorneys, investors or buyers and sellers of real estate. The Far/Bar form has many commonly used provisions in standard real estate contracts, such as clauses for financing contingencies, property inspection, evidence of title and closing procedures. The Far/Bar contract is well-known among real estate professionals. The latest version of this form is know as the FR/BAR contract.
Standardized FAR/BAR Real Estate Forms
The FAR/BAR contract is a standardized Residential Contract for Sale and Purchase. Using a standardized form greatly simplifies the Florida real estate purchase and sale agreement by making it easy to read and review by people who are familiar with the standard provisions. The person preparing the contract may simply fill in the blanks. If one or more non-standard clauses are needed for a particular transaction, the preparer may attach an addendum containing custom clauses. Also, there are standardized addenda available to cover some common situations. For example, a condominium addendum may provide disclosures required for the purchase of a condominium. The Far/Bar forms may be utilized by the general public (you are not required to be a member, attorney or a realtor).
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