Real Estate Contract Review Attorney in Fort Lauderdale
Every real estate transaction — whether a first-time home purchase or a multimillion-dollar commercial acquisition — begins with a contract. That document defines your rights, your obligations, your financial exposure, and your exit options. I’m Eric J. Goldman, and I review, draft, and negotiate real estate contracts for buyers, sellers, landlords, and tenants throughout Fort Lauderdale, Broward County, and South Florida. Getting the contract right at the outset prevents disputes, saves money, and protects your investment.
Why Attorney Contract Review Matters in Florida
Florida does not require attorney involvement in real estate transactions, which means many buyers and sellers sign binding contracts without ever consulting a lawyer. This is a significant risk. Real estate contracts are legally binding documents that allocate hundreds of thousands — sometimes millions — of dollars in rights and obligations between the parties. A real estate agent can help you find a property and negotiate a price, but agents are not permitted to provide legal advice or explain the legal consequences of contract terms.
I’ve reviewed thousands of real estate contracts over the course of my career, and I can tell you that the issues I catch in contract review regularly save my clients far more than my fee. Ambiguous inspection contingencies, inadequate financing provisions, missing disclosures, and unfavorable default remedies are problems that can be addressed before signing — but become exponentially more expensive to resolve afterward.
The FAR/BAR Contract
The majority of residential real estate transactions in South Florida use one of the standard contract forms approved by the Florida Association of Realtors and The Florida Bar — commonly known as the FAR/BAR contracts. There are two primary versions:
FAR/BAR Standard Contract
This form includes provisions for property inspections and a framework for repair negotiations. If the inspection reveals defects exceeding a specified cost threshold, the parties negotiate repairs. If they cannot agree, either party may cancel the contract. I review the repair limits, the inspection timeline, and the cancellation provisions to ensure my clients understand their options at each decision point.
FAR/BAR “As-Is” Contract
The “as-is” contract has become increasingly common in Fort Lauderdale’s competitive market. Under this form, the seller has no obligation to make repairs, and the buyer accepts the property in its current condition. However — and this is a critical point that many buyers misunderstand — the “as-is” contract still provides the buyer with an inspection period during which the buyer can cancel for any reason. The “as-is” designation does not eliminate the buyer’s right to inspect; it eliminates the seller’s obligation to repair. Understanding this distinction is essential.
Custom and Commercial Contracts
Commercial transactions rarely use standard forms. Instead, contracts are custom-drafted to address the specific terms of the deal, including extended due diligence periods, complex contingencies, entity-level representations, financing conditions, and post-closing obligations. I draft and negotiate these contracts from scratch, ensuring that every provision reflects my client’s interests and the realities of the transaction. For more on commercial deals, visit my commercial transactions page.
Key Contract Terms I Review
When I review a real estate contract for a client, I focus on every provision — but these are the areas where I most frequently identify issues that require attention:
Inspection and Due Diligence Contingencies
The inspection period is the buyer’s primary window to evaluate the property and make an informed decision. I verify that the inspection period is adequate for the property type, the buyer’s rights during this period are clearly stated, and the procedures for requesting repairs or canceling are unambiguous.
Financing Contingencies
If the purchase is financed, the contract should include a financing contingency that protects the buyer if the loan is not approved. I review the loan application deadline, the type and terms of financing specified, and the consequences if financing fails. A poorly drafted financing contingency can leave a buyer trapped — obligated to close without the ability to obtain a loan.
Closing Date and Extensions
The closing date establishes the timeline for the entire transaction. I ensure that the closing date is realistic, that provisions for extensions are fair, and that the consequences of delay are clearly defined for both parties.
Earnest Money Deposit
The earnest money deposit — typically 1-3% of the purchase price in residential transactions and negotiable in commercial deals — is held in escrow and applied toward the purchase price at closing. I review the deposit amount, the escrow agent, and most importantly, the conditions under which the deposit is refundable or forfeitable. Deposit disputes are among the most common post-contract disagreements in Florida real estate.
Title and Survey Requirements
The contract specifies the quality of title the seller must deliver, the deadline for the title commitment, and the process for resolving title defects. I review these provisions to ensure my client has adequate protections and reasonable timelines for addressing title issues.
Default and Remedies
What happens if one party fails to perform? The default provisions determine whether the non-breaching party can seek specific performance (forcing the sale), retain the deposit as liquidated damages, or pursue actual damages. These provisions have significant financial implications, and I ensure my clients understand them before signing.
Frequently Asked Questions About Real Estate Contract Review
When should I have my real estate contract reviewed by an attorney?
Ideally, before you sign it. Once both parties execute a real estate contract in Florida, it becomes a binding legal agreement. While some contracts include an attorney review period, many do not. I encourage my clients to send me the proposed contract before signing so I can identify issues, negotiate changes, and explain the terms. If you’ve already signed, contact me immediately — there may still be contingency periods during which modifications can be negotiated.
Can I make changes to the FAR/BAR contract?
Yes. Despite being a standard form, the FAR/BAR contract is fully negotiable. Terms can be modified through addenda, riders, or by striking and revising provisions in the contract itself. Real estate agents often treat the standard form as if it’s set in stone — it is not. I regularly negotiate modifications to inspection periods, closing dates, repair obligations, financing terms, and other provisions on behalf of my clients.
What is an attorney review period?
Some real estate contracts include a provision allowing either party’s attorney to review the contract and request modifications within a specified period — usually 3-5 days after execution. If the parties cannot agree on the requested changes, either party can cancel the contract. Not all Florida contracts include this provision, which is why I prefer to review contracts before execution whenever possible.
How much does a contract review cost?
My contract review fees depend on the complexity of the transaction. For a standard residential transaction using a FAR/BAR form, the fee is straightforward and predictable. For commercial contracts or complex transactions, I provide a fee estimate after reviewing the scope of the matter. In every case, the cost of contract review is minimal compared to the financial exposure of signing a contract with unfavorable or ambiguous terms.
What if I find a problem after signing the contract?
If you discover an issue after signing, your options depend on the specific contract terms and which contingency periods remain open. During the inspection period, buyers in most Florida contracts retain the right to cancel. After contingency periods expire, your options become more limited and the consequences of cancellation more severe. This is precisely why pre-signing review is so valuable — but if you’ve already signed and have concerns, call me immediately so we can assess your position.
Get Your Real Estate Contract Reviewed
Don’t sign a real estate contract without understanding every provision and its implications. Whether you’re buying, selling, or leasing property in Fort Lauderdale or anywhere in Broward County, I provide thorough, timely contract review that protects your interests.
Call Eric J. Goldman, P.A. at (954) 536-7557 to have your real estate contract reviewed before you sign. Visit my real estate law overview to learn about my full range of services.