News & Information: REALTOR® News

Replacement for FAR-9 now in effect

Friday, August 31, 2012  
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Florida REALTORS® has issued a replacement for the FAR-9 contract, and the new contract is now in effect.

The new Contract for Residential Sale and Purchase (CRSP-12) replaces and updates FAR-9. Along with the contract change, the CRSP-12 addenda will replace the FARA-10 addenda. The new forms are now available through all Florida REALTOR® forms vendors.

CRSP-12 looks very similar to FAR-9 – many of the changes are minor. However, one noteworthy change was made to CRSP-12: The seller’s warranty regarding permit-related items has been deleted, and now the buyer must provide written notification to the seller – before the end of the inspection period – what permit-related items the seller must remedy.

In addition, an appraisal addendum was added and three stand-alone forms were revised and added to the CRSP-12 addenda:

  • Chinese-Defective Drywall Addendum to Contract (CDA-1)
  • Mold Inspection Addendum to Contract (MIAC-1)
  • Short Sale Addendum to Purchase and Sale Contract (SSA-3).

Because these three revised forms are now included in the CRSP-12 addenda, the stand-alone versions will no longer be available.

Read a summary of changes

For assistance, please call the Florida REALTORS® Legal Hotline at 407.438-1409 (9 a.m. – 5 p.m., Monday through Friday).

Source: Florida REALTORS®

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