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Does Paragraph 5(a)of the FR/Bar Contract Always Protect Your Buyer if Lender Is Not Ready to Close?

By: Michael G. Salmon, Managing Attorney at SalmonLaw PLLC and Member of The Fund

Liquidated damages ensure that earnest money deposits are central elements of real estate transactions utilizing the FAR/Bar residential sales contracts – the standard or “as is” contract (the “FAR/Bar Contracts”).

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Attorneys’ Real Estate Councils of Florida or “Florida ARECS” is your trusted connection to Florida real estate attorneys. We represent a broad network of local Real Estate Councils located throughout Florida with more than one thousand attorney members.

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We foster and cultivate relationships among real estate attorneys and real estate professionals through education and networking events. We make it easy to find a real estate attorney and understand how they are uniquely qualified to protect you.

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We help real estate attorneys and real estate professionals stay current, informed and competitive. We also provide resources for the public to help buyers and sellers better understand the complexities of Florida real estate transactions.

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