Hi Fredrick,

1.) A FARBAR contract is a contract that has been approved by both the Florida Association of Realtors (FAR) and the Florida Bar Association (BAR).

2.) An As-Is Contract states: if Buyer determines, in Buyer's sole discretion, that the property is not acceptable to Buyer, Buyer may cancel this contract by delivering facsimile or written notice of such election to Seller prior to the expiration of the Inspection Period.

3.) The Inspection Period can typically be between 5-15 days, depending on the amount of time allotted for such inspection to be done, in the contract you are signing. Your REALTOR should guide you as to the amount of time to allow. You want to have a reliable, local, inspector do your inspection.


The wording of the contract, as referenced in #2 above, gives the Buyer a lot of leeway when it comes to finding time to cancel the contract. As long as the Buyer gives the seller written notice that they wish to cancel, and the written notice is given within the correct time frame, the Buyer can cancel without losing their deposit. The Seller, of course, will not be happy to lose the contract.

Nadine Mauro
Regency Realty Services
561-414-0864
NadineMauroRE@yahoo.com

When you use an AS IS contract and the buyer finds something wrong with the property they can walk away from the contract. Are you buying in Merritt Island or selling? I'm familiar with the area as I lived there for a year. Monika (monikadepalo@adamscameron.com)