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Tennisbum, Home Buyer in Boynton Beach, FL

does a far bar contract go on business days or actual days ?

Asked by Tennisbum, Boynton Beach, FL Sat Oct 17, 2009

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Line 367 of the FAR-BAR AS-IS Contract 6/10/2010 reads:

F. TIME: Calendar days shall be used in computing time periods. Any time periods provided for in this Contract which shall end on a Saturday, Sunday, or a national legal holiday (see 5 U.S.C. 6103) shall extend to 5:00 p.m. (where the Property is located) of the next business day. Time is of the essence in this Contract.

According to my research, the "national legal holidays" are:

New Year’s Day, January 1.
Birthday of Martin Luther King, Jr., the third Monday in January.
Washington’s Birthday, the third Monday in February.
Memorial Day, the last Monday in May.
Independence Day, July 4.
Labor Day, the first Monday in September.
Columbus Day, the second Monday in October.
Veterans Day, November 11.
Thanksgiving Day, the fourth Thursday in November.
Christmas Day, December 25.

Of course, I am a mere real estate licensee and not a lawyer, and I do not give legal advice. Therefore, my advice is read your contract and, if you have any questions, consult an attorney.
0 votes Thank Flag Link Mon Apr 1, 2013
It does depend on the contract that is used. The FLORIDA REALTORS/FLORIDA BAR- AS IS Rev 6/10/2010 (which is the version we should now be using) All time frames are computed using CALENDAR DAYS.
Please refer to Page 7, item F lines 367 through 369 of the above mentioned contract.
0 votes Thank Flag Link Fri Sep 7, 2012
It does depend on the contract that is used. The FLORIDA REALTORS/FLORIDA BAR- AS IS Rev 6/10/2010 (which is the version we should now be using) All time frames are computed using CALENDAR DAYS.
Please refer to Page 7, item F lines 367 through 369 of the above mentioned contract.
0 votes Thank Flag Link Fri Sep 7, 2012
It has to be as per the contract. If you are using a FAR BAR please see page 5 line 259 MISCELLANEOUS
"all time periods will be computed in business days..."

Jorge Munoz
Miami, Fl
0 votes Thank Flag Link Tue Dec 29, 2009
Joan is absolutely correct and this is very important to know
Web Reference: http://mypbchomes.com
0 votes Thank Flag Link Wed Dec 2, 2009
Hi!
It's calendar days that are computed except for period of less than 6 days, in which Saturday, Sunday and national holidays are excluded and in which case it will then extend to the next business day.

If you are looking at a FAR/BAR contract look for Paragraph I - line 188.

I hope my answer helped you.
0 votes Thank Flag Link Sat Oct 17, 2009
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