Is there an appraisal contingency built into the Florida Realtors/Florida Bar Contract?

Q: My customer wants to have an appraisal done. If the property fails to appraise for an acceptable amount, she wishes to have the option to get out of the contract. Is there an appraisal contingency built into the Florida Realtors/Florida Bar Contract?
  • May 04 - Tampa
  • 0Yes

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Answers (4)

On the addendum page of the FAR/BAR contract there is room to write in your own terms. Just write that your buyer has the right to exit the contract if the home fails to appraise at what ever amount they are requiring. EX. Buyer has right to be released from contract and full refund or any escrow if abc Street, abc, Fl, 33333 does not appraise for 100,000 or more or add the appraisal addendum which ever you feel more comfortable with.

Brian Kochik
  • May 12
  • 0Yes

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Here is a link if Zillow will allow it for the appraisal contingency from Florida Realtors/ Florida Bar

http://forms.floridarealtors.org/users/renderPDF?folder_id=0&form_id=7583

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  • May 04
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There is not a value specific appraisal contingency in the default standard contract.  It is tied in to your loan commitment.  If you want the ability to cancel the contract if it appraises below a specific value, you need to use the Appraisal Rider
  • May 04
  • 0Yes

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There is an appraisal addendum in Forms Simplicity
  • May 04
  • 0Yes

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