If initialed by all parties, the clauses below will be incorporated into the FAR/BAR Contract for Sale and Purchase between
and ________________________________________________________________________________________________________ (Buyer)
concerning the Property described as __________________________________________________________________________________
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS
AND THE FLORIDA BAR
FBCR-9 Rev. 9/07 © 2007 Florida Association of REALTORS
and The Florida Bar All Rights Reserved
Page ______ of Comprehensive Rider to the FAR/BAR Contract for Sale and Purchase
U.S. DEPARTMENT OF VETERANS AFFAIRS (VA) / FEDERAL HOUSING ADMINISTRATION (FHA)
Buyer’s initials - Seller’s initials: If to be made a part of the Contract.
( ) ( ) - - ( ) ( )
(a) “Contract” is the FAR/BAR Contract for Sale and Purchase (2007 ed.), to which this Rider is attached and intended to amend.
(b) “Standard” refers to the Standards for Real Estate Transactions which is part of the Contract.
(c) “HUD” is the Department of Housing and Urban Development.
(d) “Property” is the Property which is the subject matter of the Contract.
(e) “Purchaser” is the Buyer named in the Contract.
(f) “FHA” is the Federal Housing Administration.
(g) “VA” is the Department of Veterans Affairs.
2. INSPECTIONS AND APPRAISAL: In addition to the requirements of Standard D and Standard N of the Contract, Seller shall
comply with applicable FHA or VA regulations regarding termite inspection, roof inspection, and appraisal repairs (collectively
“Appraisal Repairs”). The cost to Seller for Appraisal Repairs will not exceed $ ______________, which cost is in addition to the costs
required to be paid under Standard D and Standard N.
3. ❏ (CHECK IF APPLICABLE) FHA FINANCING: It is expressly agreed that notwithstanding any other provisions of the Contract,
the Purchaser shall not be obligated to complete the purchase of the Property described herein or to incur any penalty by forfeiture
of earnest money deposits or otherwise unless the Purchaser has been given in accordance with HUD/FHA or VA requirements a
written statement by the Federal Housing Commissioner, Veterans Administration, or a Direct Endorsement lender setting forth the
appraised value of the Property of not less than $ _________. The Purchaser shall have the privilege and option of proceeding with
consummation of the Contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to
determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does not warrant the value
nor the condition of the Property. The Purchaser should satisfy himself/herself that the price and condition of the Property are
(a) Fees, Prepayments: Purchaser shall pay all loan expenses, except tax service fee, which fee, if charged by Buyer’s lender,
shall be paid by Seller up to maximum of $__________________________ ($100.00 if left blank).
(b) Appraisal Repairs: If the cost of Appraisal Repairs exceeds the limit imposed by Paragraph 2 above, Seller must, within 3 days
after receiving notice of the excess cost, give Purchaser written notice of Seller’s intention to pay some, all, or none of the excess
amount. If Seller elects to pay less than the full amount of the excess cost, Purchaser may elect to pay the balance or cancel the
Contract. Purchaser’s election must be in writing and provided to Seller within 3 days after receiving written notice of Seller’s election.
(c) Certification: We, the undersigned Seller, Purchaser and Broker involved in this transaction each certify individually and jointly
that the terms of the Contract are true and correct to the best of our knowledge and belief and that any other agreements entered
into by any of these parties in connection with this transaction are part of, or attached to, the Contract.
4. ❏ (CHECK IF APPLICABLE) VA FINANCING: It is expressly agreed that, notwithstanding any other provision of the Contract,
the Purchaser shall not incur any penalty by forfeiture of earnest money or otherwise be obligated to complete the purchase of the
Property described herein, if the Contract purchase price or cost exceeds the reasonable value of the Property as established by the
U.S. Department of Veterans Affairs. The Purchaser shall, however, have the privilege and option of proceeding with the consumma-
tion of the Contract without regard to the amount of reasonable value established by the U.S. Department of Veterans Affairs.
(a) Fees, Prepayments: Seller shall pay for the WDO inspection and tax service, underwriting, and document preparation fees
required by the lender, and for recording fees for assigning Purchaser’s mortgage. Purchaser shall pay all prepayments and escrows
for taxes, hazard insurance, flood insurance, when applicable.
USE THE RIDERS THAT APPLY
Comprehensive Rider to the FAR/BAR Contract for Sale and Purchase
FLORIDA ASSOCIATION OF REALTORS
AND THE FLORIDA BAR