What Is the FAR/BAR Contract?
The FAR/BAR Contract for Sale and Purchase is the most widely used residential real estate contract in Florida. It is issued and approved by the joint committee of Florida Realtors® and The Florida Bar. The form is officially licensed for use in Alta Star Forms Online.
The contract is also known as the FR/BAR contract or Florida Realtors/Florida Bar Contract. Florida Realtors® was formerly known as the Florida Association of Realtors (FAR), which is why most real estate professionals still refer to it as the FAR/BAR contract.
Why the FAR/BAR Contract Is Widely Used
The FAR/BAR Contract for Sale and Purchase offers many advantages for both buyers and sellers in Florida real estate transactions:
- Standardized: The FAR/BAR contract is a standardized form that is widely recognized across Florida. Standardization helps ensure that all parties are familiar with the terms and conditions, reducing misunderstandings and disputes.
- Comprehensive: The contract covers a broad range of situations and contingencies, including financing, inspections, disclosures, evidence of title and closing procedures. This comprehensive approach helps avoid potential issues before they arise.
- Flexible: The contract includes various riders and addenda for specific needs and situations, providing flexibility for different types of residential transactions.
- Clarity and Transparency: The contract is written in clear language, making it easier for buyers, sellers and their agents to understand their rights and obligations.
- Dispute Resolution: The contract includes provisions for dispute resolution, which can help resolve conflicts without resorting to litigation.
FAR/BAR Contract vs. As-Is Contract
The FAR/BAR forms include two main residential contracts. The standard FAR/BAR Contract for Sale and Purchase is used for most transactions. The FAR/BAR As-Is Residential Contract is used when a property is being sold in as-is condition, subject to a satisfactory inspection by the buyer. The as-is version does not require the seller to pay for repairs.
FAR/BAR Contract vs. CRSP Form
Another widely used Florida real estate contract is the Florida Realtors® Residential Contract for Sale and Purchase (Form CRSP). While the FAR/BAR contract and the CRSP form share many similar provisions, there are important differences. The CRSP form provides for arbitration of unresolved disputes, whereas the FAR/BAR contract provides that unresolved disputes are resolved by a court of law. Additionally, the CRSP form may require the seller to pay for certain repairs up to a limit specified in the contract, unlike the FAR/BAR As-Is version.
Key Provisions
The FAR/BAR contract includes many commonly used provisions found in standard Florida real estate contracts:
- Financing contingencies and loan approval terms
- Property inspection and repair provisions
- Evidence of title requirements
- Closing and occupancy procedures
- Riders and addenda for condominiums, homeowner associations, lead-based paint, and other specific situations
Using the FAR/BAR Contract in Alta Star Forms Online
Alta Star Forms Online is officially licensed to provide the FAR/BAR contract and related Florida real estate forms. The forms are kept current with the latest revisions from Florida Realtors® and The Florida Bar. To see all included forms and recent updates, visit the Form Sets page.
Before choosing this or any other form, obtain legal advice to ensure the form is appropriate for your transaction.
The FAR/BAR contract is also known as FR/BAR contract, Florida real estate contract, Florida Realtors/Florida Bar contract, or FAR/BAR residential contract.
FAR Forms are also known as Florida Realtors® Forms.