Buyer (____) (____) and Seller (____) (____) acknowledge receipt of a copy of this page, which is 1 of 7 pages.
VAC-10 Rev 8/14 © Florida Association of Realtors®
Vacant Land Contract
1. Sale and Purchase: _________________________________________________________________ (“Seller”)1
and _______________________________________________________________________________ (“Buyer”)2
(the “parties”) agree to sell and buy on the terms and conditions specified below the property (“Property”) 3
described as: 4
Address: __________________________________________________________________________________5
Legal Description: __________________________________________________________________________ 6
__________________________________________________________________________________________ 7
__________________________________________________________________________________________ 8
__________________________________________________________________________________________ 9
__________________________________________________________________________________________ 10
SEC ___/TWP ___/RNG ___ of ______________ County, Florida. Real Property ID No.: ___________________ 11
including all improvements existing on the Property and the following additional property: 12
__________________________________________________________________________________________ 13
2. Purchase Price: (U.S. currency) ................................................................................................ $ ______________ 14
All deposits will be made payable to “Escrow Agent” named below and held in escrow by: 15
Escrow Agent’s Name: ____________________________________________________ 16
Escrow Agent’s Contact Person: _____________________________________________ 17
Escrow Agent’s Address: ___________________________________________________ 18
Escrow Agent’s Phone: ____________________________________________________ 19
Escrow Agent’s Email:
20
(a) Initial deposit ($0 if left blank) (Check if applicable)21
accompanies offer 22
will be delivered to Escrow Agent within ______ days (3 days if left blank) 23
after Effective Date ................................................................................................................$ ______________ 24
(b) Additional deposit will be delivered to Escrow Agent (Check if applicable)25
within ______ days (10 days if left blank) after Effective Date 26
within ______ days (3 days if left blank) after expiration of Feasibility Study Period ....... $ ______________ 27
(c) Total Financing (see Paragraph 5) (express as a dollar amount or percentage) .................. $ ______________ 28
(d) Other: ___________________________________________________________ ............ $ ______________ 29
(e) Balance to close (not including Buyer’s closing costs, prepaid items, and prorations) 30
to be paid at closing by wire transfer or other Collected funds ............................................. $ ______________ 31
(f) (Complete only if purchase price will be determined based on a per unit cost instead of a fixed price.) The 32
unit used to determine the purchase price is lot acre square foot other (specify): ____________ 33
prorating areas of less than a full unit. The purchase price will be $________________ per unit based on a 34
calculation of total area of the Property as certified to Seller and Buyer by a Florida licensed surveyor in 35
accordance with Paragraph 7(c). The following rights of way and other areas will be excluded from the 36
calculation: ____________________________________________________________________________ 37
3. Time for Acceptance; Effective Date: Unless this offer is signed by Seller and Buyer and an executed copy 38
delivered to all parties on or before ____________________, this offer will be withdrawn and Buyer’s deposit, if 39
any, will be returned. The time for acceptance of any counter offer will be 3 days after the date the counter offer is 40
delivered. The “Effective Date” of this contract is the date on which the last one of the Seller and Buyer 41
has signed or initialed and delivered this offer or the final counter offer. 42
4. Closing Date: This transaction will close on ____________________ (“Closing Date”), unless specifically 43
extended by other provisions of this contract. The Closing Date will prevail over all other time periods including, 44
but not limited to, Financing and Feasibility Study periods. However, if the Closing Date occurs on a Saturday, 45
Sunday, or national legal holiday, it will extend to 5:00 p.m. (where the Property is located) of the next business 46
day. In the event insurance underwriting is suspended on Closing Date and Buyer is unable to obtain property 47
insurance, Buyer may postpone closing for up to 5 days after the insurance underwriting suspension is lifted. If 48
this transaction does not close for any reason, Buyer will immediately return all Seller provided documents and 49
other items. 50
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Buyer (____) (____) and Seller (____) (____) acknowledge receipt of a copy of this page, which is 2 of 7 pages.
VAC-10 Rev 8/14 © Florida Association of Realtors®
5. Financing: (Check as applicable)51
(a) Buyer will pay cash for the Property with no financing contingency. 52
(b) This contract is contingent on Buyer qualifying for and obtaining the commitment(s) or approval(s) 53
specified below (“Financing”) within ______ days after Effective Date (Closing Date or 30 days after Effective 54
Date, whichever occurs first, if left blank) (“Financing Period”). Buyer will apply for Financing within ______ 55
days after Effective Date (5 days if left blank) and will timely provide any and all credit, employment, financial, 56
and other information required by the lender. If Buyer, after using diligence and good faith, cannot obtain the 57
Financing within the Financing Period, either party may terminate this contract and Buyer’s deposit(s) will be 58
returned. 59
(1) New Financing: Buyer will secure a commitment for new third party financing for $ _______________60
or ______% of the purchase price at (Check one) a fixed rate not exceeding ______% an 61
adjustable interest rate not exceeding ______% at origination (a fixed rate at the prevailing interest rate 62
based on Buyer’s creditworthiness if neither choice is selected). Buyer will keep Seller and Broker fully 63
informed of the loan application status and progress and authorizes the lender or mortgage broker to 64
disclose all such information to Seller and Broker. 65
(2) Seller Financing: Buyer will execute a first second purchase money note and mortgage to 66
Seller in the amount of $________________, bearing annual interest at ______% and payable as 67
follows: _____________________________________________________________________________ 68
The mortgage, note, and any security agreement will be in a form acceptable to Seller and will follow 69
forms generally accepted in the county where the Property is located; will provide for a late payment fee 70
and acceleration at the mortgagee’s option if Buyer defaults; will give Buyer the right to prepay without 71
penalty all or part of the principal at any time(s) with interest only to date of payment; will be due on 72
conveyance or sale; will provide for release of contiguous parcels, if applicable; and will require Buyer to73
keep liability insurance on the Property, with Seller as additional named insured. Buyer authorizes Seller74
to obtain credit, employment, and other necessary information to determine creditworthiness for the 75
financing. Seller will, within 10 days after Effective Date, give Buyer written notice of whether or not 76
Seller will make the loan. 77
(3) Mortgage Assumption: Buyer will take title subject to and assume and pay existing first mortgage to 78
___________________________________________________________________________________ 79
LN#____________________ in the approximate amount of $________________ currently payable at 80
$_______________ per month, including principal, interest, taxes and insurance, and having a 81
fixed other (describe) _____________________________________________________________ 82
interest rate of ______% which will will not escalate upon assumption. Any variance in the 83
mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will84
purchase Seller’s escrow account dollar for dollar. If the interest rate upon transfer exceeds ______% or 85
the assumption/transfer fee exceeds $________________, either party may elect to pay the excess, 86
failing which this contract will terminate; and Buyer’s deposit(s) will be returned. If the lender disapproves 87
Buyer, this contract will terminate; and Buyer’s deposit(s) will be returned. 88
6. Assignability: (Check one) Buyer may assign and thereby be released from any further liability under this 89
contract, may assign but not be released from liability under this contract, or may not assign this contract. 90
7. Title: Seller has the legal capacity to and will convey marketable title to the Property by statutory warranty 91
deed special warranty deed other (specify) ______________________________, free of liens, easements, 92
and encumbrances of record or known to Seller, but subject to property taxes for the year of closing; covenants, 93
restrictions, and public utility easements of record; existing zoning and governmental regulations; and (list any 94
other matters to which title will be subject) ________________________________________________________, 95
provided there exists at closing no violation of the foregoing. 96
(a) Title Evidence: The party who pays for the owner’s title insurance policy will select the closing agent and 97
pay for the title search, including tax and lien search if performed, and all other fees charged by closing agent. 98
Seller will deliver to Buyer, at 99
(Check one) Seller’s Buyer’s expense and 100
(Check one) within ______ days after Effective Date at least ______ days before Closing Date, 101
(Check one)102
(1) a title insurance commitment by a Florida licensed title insurer setting forth those matters to be 103
discharged by Seller at or before closing and, upon Buyer recording the deed, an owner’s policy in the 104
amount of the purchase price for fee simple title subject only to the exceptions stated above. If Buyer is 105
paying for the owner’s title insurance policy and Seller has an owner’s policy, Seller will deliver a copy to 106
Buyer within 15 days after Effective Date. 107
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VAC-10 Rev 8/14 © Florida Association of Realtors®
(2) an abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an 108
existing firm. However, if such an abstract is not available to Seller, then a prior owner’s title policy 109
acceptable to the proposed insurer as a base for reissuance of coverage may be used. The prior policy 110
will include copies of all policy exceptions and an update in a format acceptable to Buyer from the policy 111
effective date and certified to Buyer or Buyer’s closing agent together with copies of all documents 112
recited in the prior policy and in the update. If such an abstract or prior policy is not available to Seller,113
then (1) above will be the title evidence. 114
(b) Title Examination: After receipt of the title evidence, Buyer will, within ______ days (10 days if left blank) 115
but no later than Closing Date, deliver written notice to Seller of title defects. Title will be deemed acceptable 116
to Buyer if (i) Buyer fails to deliver proper notice of defects or (ii) Buyer delivers proper written notice and 117
Seller cures the defects within ______ days (30 days if left blank) (“Cure Period”) after receipt of the notice. If 118
the defects are cured within the Cure Period, closing will occur within 10 days after receipt by Buyer of notice 119
of such cure. Seller may elect not to cure defects if Seller reasonably believes any defect cannot be cured 120
within the Cure Period. If the defects are not cured within the Cure Period, Buyer will have 10 days after 121
receipt of notice of Seller’s inability to cure the defects to elect whether to terminate this contract or accept 122
title subject to existing defects and close the transaction without reduction in purchase price. 123
(c) Survey: Buyer may, at Buyer’s expense, have the Property surveyed and must deliver written notice to 124
Seller, within 5 days after receiving survey but not later than 5 days before Closing Date, of any 125
encroachments on the Property, encroachments by the Property’s improvements on other lands, or deed 126
restriction or zoning violations. Any such encroachment or violation will be treated in the same manner as a 127
title defect and Seller’s and Buyer’s obligations will be determined in accordance with Paragraph 7(b). 128
(d) Ingress and Egress: Seller warrants that the Property presently has ingress and egress. 129
8. Property Condition: Seller will deliver the Property to Buyer at closing in its present “as is” condition, with 130
conditions resulting from Buyer’s Inspections and casualty damage, if any, excepted. Seller will not engage in or 131
permit any activity that would materially alter the Property’s condition without the Buyer’s prior written consent. 132
(a) Inspections: (Check (1) or (2))133
(1) Feasibility Study: Buyer will, at Buyer’s expense and within ______ days (30 days if left blank) 134
(“Feasibility Study Period”) after Effective Date and in Buyer’s sole and absolute discretion, determine 135
whether the Property is suitable for Buyer’s intended use. During the Feasibility Study Period, Buyer 136
may conduct a Phase 1 environmental assessment and any other tests, analyses, surveys, and 137
investigations (“Inspections”) that Buyer deems necessary to determine to Buyer’s satisfaction the 138
Property’s engineering, architectural, and environmental properties; zoning and zoning restrictions; 139
subdivision statutes; soil and grade; availability of access to public roads, water, and other utilities; 140
consistency with local, state, and regional growth management plans; availability of permits, government 141
approvals, and licenses; and other inspections that Buyer deems appropriate. If the Property must be 142
rezoned, Buyer will obtain the rezoning from the appropriate government agencies. Seller will sign all 143
documents Buyer is required to file in connection with development or rezoning approvals. Seller gives144
Buyer, its agents, contractors, and assigns, the right to enter the Property at any time during the 145
Feasibility Study Period for the purpose of conducting Inspections, provided, however, that Buyer, its 146
agents, contractors, and assigns enter the Property and conduct Inspections at their own risk. Buyer will147
indemnify and hold Seller harmless from losses, damages, costs, claims, and expenses of any nature, 148
including attorneys’ fees, expenses, and liability incurred in application for rezoning or related 149
proceedings, and from liability to any person, arising from the conduct of any and all Inspections or any 150
work authorized by Buyer. Buyer will not engage in any activity that could result in a construction lien 151
being filed against the Property without Seller’s prior written consent. If this transaction does not close, 152
Buyer will, at Buyer’s expense, (i) repair all damages to the Property resulting from the Inspections and 153
return the Property to the condition it was in before conducting the Inspections and (ii) release to Seller154
all reports and other work generated as a result of the Inspections. 155
Before expiration of the Feasibility Study Period, Buyer must deliver written notice to Seller of Buyer’s 156
determination of whether or not the Property is acceptable. Buyer’s failure to comply with this notice 157
requirement will constitute acceptance of the Property as suitable for Buyer’s intended use in its “as is” 158
condition. If the Property is unacceptable to Buyer and written notice of this fact is timely delivered to 159
Seller, this contract will be deemed terminated, and Buyer’s deposit(s) will be returned. 160
(2) No Feasibility Study: Buyer is satisfied that the Property is suitable for Buyer’s purposes, including 161
being satisfied that either public sewerage and water are available to the Property or the Property will be 162
approved for the installation of a well and/or private sewerage disposal system and that existing zoning 163
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VAC-10 Rev 8/14 © Florida Association of Realtors®
and other pertinent regulations and restrictions, such as subdivision or deed restrictions, concurrency, 164
growth management, and environmental conditions, are acceptable to Buyer. This contract is not 165
contingent on Buyer conducting any further investigations. 166
(b) Government Regulations: Changes in government regulations and levels of service which affect Buyer’s 167
intended use of the Property will not be grounds for terminating this contract if the Feasibility Study Period has 168
expired or if Paragraph 8(a)(2) is selected. 169
(c) Flood Zone: Buyer is advised to verify by survey, with the lender, and with appropriate government 170
agencies which flood zone the Property is in, whether flood insurance is required, and what restrictions apply 171
to improving the Property and rebuilding in the event of casualty. 172
(d) Coastal Construction Control Line (“CCCL”): If any part of the Property lies seaward of the CCCL as 173
defined in Section 161.053, Florida Statutes, Seller will provide Buyer with an affidavit or survey as required 174
by law delineating the line’s location on the Property, unless Buyer waives this requirement in writing. The 175
Property being purchased may be subject to coastal erosion and to federal, state, or local regulations that 176
govern coastal property, including delineation of the CCCL, rigid coastal protection structures, beach 177
nourishment, and the protection of marine turtles. Additional information can be obtained from the Florida 178
Department of Environmental Protection, including whether there are significant erosion conditions associated 179
with the shore line of the Property being purchased. 180
Buyer waives the right to receive a CCCL affidavit or survey. 181
9. Closing Procedure; Costs: Closing will take place in the county where the Property is located and may be 182
conducted by mail or electronic means. If title insurance insures Buyer for title defects arising between the title 183
binder effective date and recording of Buyer’s deed, closing agent will disburse at closing the net sale proceeds 184
to Seller (in local cashier’s check if Seller requests in writing at least 5 days before closing) and brokerage fees to 185
Broker as per Paragraph 19. In addition to other expenses provided in this contract, Seller and Buyer will pay the 186
costs indicated below. 187
(a) Seller Costs: 188
Taxes on deed 189
Recording fees for documents needed to cure title 190
Title evidence (if applicable under Paragraph 7) 191
Other: _________________________________________________________________________________ 192
(b) Buyer Costs: 193
Taxes and recording fees on notes and mortgages 194
Recording fees on the deed and financing statements 195
Loan expenses 196
Title evidence (if applicable under Paragraph 7) 197
Lender’s title policy at the simultaneous issue rate 198
Inspections 199
Survey200
Insurance 201
Other: _________________________________________________________________________________ 202
(c) Prorations: The following items will be made current and prorated as of the day before Closing Date: real 203
estate taxes (including special benefit tax liens imposed by a CDD), interest, bonds, assessments, leases, 204
and other Property expenses and revenues. If taxes and assessments for the current year cannot be 205
determined, the previous year’s rates will be used with adjustment for any exemptions. 206
(d) Special Assessment by Public Body: Regarding special assessments imposed by a public body, Seller207
will pay (i) the full amount of liens that are certified, confirmed, and ratified before closing and (ii) the amount 208
of the last estimate of the assessment if an improvement is substantially completed as of Effective Date but 209
has not resulted in a lien before closing; and Buyer will pay all other amounts. If special assessments may be 210
paid in installments, Seller Buyer (Buyer if left blank) will pay installments due after closing. If Seller is211
checked, Seller will pay the assessment in full before or at the time of closing. Public body does not include a 212
Homeowners’ or Condominium Association. 213
(e) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER’S CURRENT 214
PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO 215
PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY 216
IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN 217
HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT 218
THE COUNTY PROPERTY APPRAISER’S OFFICE FOR FURTHER INFORMATION. 219
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VAC-10 Rev 8/14 © Florida Association of Realtors®
(f) Foreign Investment in Real Property Tax Act (“FIRPTA”): If Seller is a “foreign person” as defined by 220
FIRPTA, Seller and Buyer will comply with FIRPTA, which may require Seller to provide additional cash at 221
closing. 222
(g) 1031 Exchange: If either Seller or Buyer wish to enter into a like-kind exchange (either simultaneously with 223
closing or after) under Section 1031 of the Internal Revenue Code (“Exchange”), the other party will 224
cooperate in all reasonable respects to effectuate the Exchange including executing documents, provided, 225
however, that the cooperating party will incur no liability or cost related to the Exchange and that the closing 226
will not be contingent upon, extended, or delayed by the Exchange. 227
10. Computation of Time: Calendar days will be used when computing time periods, except time periods of 5 days 228
or less. Time periods of 5 days or less will be computed without including Saturday, Sunday, or national legal 229
holidays specified in 5 U.S.C. 6103(a). Any time period ending on a Saturday, Sunday, or national legal holiday 230
will extend until 5:00 p.m. (where the Property is located) of the next business day. Time is of the essence in 231
this contract. 232
11. Risk of Loss; Eminent Domain: If any portion of the Property is materially damaged by casualty before closing 233
or Seller negotiates with a governmental authority to transfer all or part of the Property in lieu of eminent domain 234
proceedings or an eminent domain proceeding is initiated, Seller will promptly inform Buyer. Either party may 235
terminate this contract by written notice to the other within 10 days after Buyer’s receipt of Seller’s notification,236
and Buyer’s deposit(s) will be returned, failing which Buyer will close in accordance with this contract and 237
receive all payments made by the governmental authority or insurance company, if any. 238
12. Force Majeure: Seller or Buyer will not be required to perform any obligation under this contract or be liable to 239
each other for damages so long as the performance or non-performance of the obligation is delayed, caused, or 240
prevented by an act of God or force majeure. An “act of God or “force majeure” is defined as hurricanes, 241
earthquakes, floods, fire, unusual transportation delays, wars, insurrections, and any other cause not reasonably 242
within the control of Seller or Buyer and which by the exercise of due diligence the non-performing party is 243
unable in whole or in part to prevent or overcome. All time periods, including Closing Date, will be extended for 244
the period that the act of God or force majeure is in place. However, in the event that such act of God or force 245
majeure event continues beyond 30 days, either party may terminate this contract by delivering written notice to 246
the other; and Buyer’s deposit(s) will be returned. 247
13. Notices: All notices will be in writing and delivered to the parties and Broker by mail, personal delivery, or 248
electronic means. Buyer’s failure to timely deliver written notice to Seller, when such notice is required by 249
this contract, regarding any contingency will render that contingency null and void, and this contract will 250
be construed as if the contingency did not exist. Any notice, document, or item delivered to or received 251
by an attorney or licensee (including a transactions broker) representing a party will be as effective as if 252
delivered to or received by that party.253
14. Complete Agreement; Persons Bound: This contract is the entire agreement between Seller and Buyer.254
Except for brokerage agreements, no prior or present agreements will bind Seller, Buyer, or Broker 255
unless incorporated into this contract. Modifications of this contract will not be binding unless in writing, signed 256
or initialed, and delivered by the party to be bound. Electronic signatures will be acceptable and binding. This 257
contract, signatures, initials, documents referenced in this contract, counterparts, and written modifications 258
communicated electronically or on paper will be acceptable for all purposes, including delivery, and will be 259
binding. Handwritten or typewritten terms inserted in or attached to this contract prevail over preprinted terms. If 260
any provision of this contract is or becomes invalid or unenforceable, all remaining provisions will continue to be 261
fully effective. Seller and Buyer will use diligence and good faith in performing all obligations under this contract. 262
This contract will not be recorded in any public record. The terms “Seller,” “Buyer,” and “Broker” may be singular 263
or plural. This contract is binding on the heirs, administrators, executors, personal representatives, and assigns, if 264
permitted, of Seller, Buyer, and Broker. 265
15. Default and Dispute Resolution: This contract will be construed under Florida law. This Paragraph will survive 266
closing or termination of this contract. 267
(a) Seller Default: If Seller fails, neglects, or refuses to perform Seller’s obligations under this contract, Buyer 268
may elect to receive a return of Buyer’s deposit(s) without thereby waiving any action for damages resulting 269
from Seller’s breach and may seek to recover such damages or seek specific performance. Seller will also 270
be liable for the full amount of the brokerage fee. 271
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VAC-10 Rev 8/14 © Florida Association of Realtors®
(b) Buyer Default: If Buyer fails, neglects, or refuses to perform Buyer’s obligations under this contract, 272
including payment of deposit(s), within the time(s) specified, Seller may elect to recover and retain the 273
deposit(s), paid and agreed to be paid, for the account of Seller as agreed upon liquidated damages, 274
consideration for execution of this contract, and in full settlement of any claims, whereupon Seller and Buyer 275
will be relieved from all further obligations under this contract; or Seller, at Seller’s option, may proceed in 276
equity to enforce Seller’s rights under this contract. 277
16. Escrow Agent; Closing Agent: Seller and Buyer authorize Escrow Agent and closing agent (collectively 278
“Agent”) to receive, deposit, and hold funds and other items in escrow and, subject to Collection, disburse them 279
upon proper authorization and in accordance with Florida law and the terms of this contract, including disbursing 280
brokerage fees. “Collection” or “Collected” means any checks tendered or received have become actually and 281
finally collected and deposited in the account of Agent. The parties agree that Agent will not be liable to any 282
person for misdelivery of escrowed items to Seller or Buyer, unless the misdelivery is due to Agent’s willful 283
breach of this contract or gross negligence. If Agent interpleads the subject matter of the escrow, Agent will pay 284
the filing fees and costs from the deposit and will recover reasonable attorneys’ fees and costs to be paid from the 285
escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. 286
17. Professional Advice; Broker Liability: Broker advises Seller and Buyer to verify all facts and representations 287
that are important to them and to consult an appropriate professional for legal advice (for example, interpreting 288
this contract, determining the effect of laws on the Property and this transaction, status of title, foreign investor 289
reporting requirements, the effect of property lying partially or totally seaward of the CCCL, etc.) and for tax, 290
property condition, environmental, and other specialized advice. Buyer acknowledges that Broker does not reside 291
in the Property and that all representations (oral, written, or otherwise) by Broker are based on Seller292
representations or public records. Buyer agrees to rely solely on Seller, professional inspectors, and 293
government agencies for verification of the Property condition and facts that materially affect Property 294
value. Seller and Buyer respectively will pay all costs and expenses, including reasonable attorneys’ fees at all 295
levels, incurred by Broker and Broker’s officers, directors, agents, and employees in connection with or arising 296
from Seller’s or Buyer’s misstatement or failure to perform contractual obligations. Seller and Buyer hold297
harmless and release Broker and Broker’s officers, directors, agents, and employees from all liability for loss or 298
damage based on (i) Seller’s or Buyer’s misstatement or failure to perform contractual obligations; (ii) the use or 299
display of listing data by third parties, including, but not limited to, photographs, images, graphics, video 300
recordings, virtual tours, drawings, written descriptions, and remarks related to the Property; (iii) Broker’s 301
performance, at Seller’s or Buyer’s request, of any task beyond the scope of services regulated by Chapter 475, 302
Florida Statutes, as amended, including Broker’s referral, recommendation, or retention of any vendor; (iv) 303
products or services provided by any vendor; and (v) expenses incurred by any vendor. Seller and Buyer each304
assume full responsibility for selecting and compensating their respective vendors. This Paragraph will not relieve 305
Broker of statutory obligations. For purposes of this Paragraph, Broker will be treated as a party to this contract. 306
This Paragraph will survive closing. 307
18. Commercial Real Estate Sales Commission Lien Act: If the Property is commercial real estate as defined by 308
Section 475.701, Florida Statutes, the following disclosure will apply: The Florida Commercial Real Estate Sales 309
Commission Lien Act provides that when a broker has earned a commission by performing licensed services 310
under a brokerage agreement with you, the broker may claim a lien against your net sales proceeds for the 311
broker’s commission. The broker’s lien rights under the act cannot be waived before the commission is earned. 312
19. Brokers: The brokers named below are collectively referred to as “Broker.” Instruction to closing agent: 313
Seller and Buyer direct closing agent to disburse at closing the full amount of the brokerage fees as specified in 314
separate brokerage agreements with the parties and cooperative agreements between the Brokers, except to the 315
extent Broker has retained such fees from the escrowed funds. This Paragraph will not be used to modify any 316
MLS or other offer of compensation made by Seller or Seller’s Broker to Buyer’s Broker. 317
(a) _________________________________________________________________________ (Seller’s Broker) 318
will be compensated by Seller Buyer both parties pursuant to a listing agreement other 319
(specify): ______________________________________________________________________________ 320
(b) _________________________________________________________________________ (Buyer’s Broker) 321
will be compensated by Seller Buyer both parties Seller’s Broker pursuant to a MLS offer of 322
compensation other (specify): ___________________________________________________________ 323
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VAC-10 Rev 8/14 © Florida Association of Realtors®
20. Additional Terms: 324
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327
328
329
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331
332
333
334
335
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337
338
339
340
This is intended to be a legally binding contract. If not fully understood, seek the advice of an attorney before 341
signing.342
Buyer: Date:
343
Print name:
344
Buyer: Date:
345
Print name:
346
Buyer’s address for purpose of notice: 347
Address:
348
Phone: _______________________ Fax: _______________________ Email:
349
Seller: Date:
350
Print name:
351
Seller: Date:
352
Print name:
353
Seller’s address for purpose of notice: 354
Address:
355
Phone: _______________________ Fax: _______________________ Email:
356
Effective Date: ____________________ (The date on which the last party signed or initialed and delivered the
357
final offer or counter offer.)
358
Florida Association of REALTORS® and local Board/Association of REALTORS® make no representation as to the legal validity or
adequacy of any provision of this form in any specific transaction. This standardized form should not be used in complex transactions or
with extensive riders or additions. This form is available for use by the entire real estate industry and is not intended to identify the user as
a REALTOR®. REALTOR® is a registered collective membership mark that may be used only by real estate licensees who are members
of the National Association of REALTORS® and who subscribe to its Code of Ethics. The copyright laws of the United States (17 U.S.
Code) forbid the unauthorized reproduction of blank forms by any means including facsimile or computerized forms.
This software is licensed to [Shannon Oglesby - WEBPRO REALTY, LLC] www.transactiondesk.com.
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