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Personal Injury &
Wrongful Death

lItIgatIon
                         What Does the contract say?
estate PlannIng

real estate & tItle
Insurance                jack o. hackett II
MarItal & faMIly         september, 2009
envIronMental
& lanD use

BusIness
                               real estate buyers and sellers, and even realtors, will occasionally call with
elDer laW                a question they think is so simple any attorney should know the answer.
asset ProtectIon
                               “I have a 15-day inspection period. Do I count weekends in that?”
                               “I found out the zoning is not right for the way I want to use the property.
                         Do I still have to go through with the purchase?”
                              “I am having a dispute with the seller. can I just sue him or do I have to
                         do some type of mediation or arbitration?”
attorneys
                               though clients do not usually like it when we answer a question with a
earl Drayton farr, jr.
(senior counsel)
                         question, in these cases we have to. simply put, what does the contract say?
                         these questions and many more are not a matter of law, but a matter of contract.
guy s. eMerIch           they cannot be answered correctly without first reviewing the documents signed
jacK o. hacKett II       by the parties.
MIchael P. hayMans
                                one popular contract form counts business days (no weekends or holidays)
charles t. Boyle         rather than calendar days. another counts calendar days unless the time period
Darol h.M. carr          is less than six days; then it uses business days. Most, but not all, say that if the
                         last day is a weekend or holiday, you go to the next day that is not a weekend or
DavID a. holMes
                         holiday.
gary a. Kahle

jennIfer r. hoWell
                                 Many contract forms have a blank to fill in for your anticipated use. If you
                         filled in “bank with drive-through windows” and the zoning does not permit it,
roger h. MIller III      you probably have an out. If you merely filled in the zoning category found on the
Dorothy l. KorsZen       county property appraiser’s website, say, “commercial general,” not knowing it
WIll W. sunter
                         takes “commercial Intensive” zoning to have drive-through windows, you might
                         lose your deposit.
erIc M. DecKer
Personal Injury &
Wrongful Death

lItIgatIon
                             If your realtor happened to use the far-9 form of contract you will have
estate PlannIng         to mediate first, and if that fails, go to arbitration. If the realtor used the far/
real estate & tItle
                        Bar-8 contract form you can go straight to court if that is your desire.
Insurance
                              In any real estate transaction it is not only important how well the contract
MarItal & faMIly        was drafted, it is also important which contract form was used. It is not that
envIronMental
                        one form is necessarily better than another form; they are just different. When a
& lanD use              question arises during the purchase process, especially before closing, the first
                        place parties and attorneys should look for answers is in the document that was
BusIness
                        used to ink the deal.
elDer laW

asset ProtectIon




Punta gorda office:
99 nesbit street
Punta gorda, fl 33950
                                       to subscribe to our monthly newsletters, please visit our website at www.farr.com
Phone: 941.639.1158                                   this newsletter is for general information and education purposes only.
fax: 941.639.0028
                                                                  It is not offered as legal advice or legal opinion.


englewood office:          to the extent this message contains tax advice, the u.s. treasury Department requires us to inform you that any advice in this
33 s. Indiana avenue
                            letter is not intended or written by our firm to be used, and cannot be used by any taxpayer, for the purpose of avoiding any
englewood, fl 34223
Phone: 941.460.9334       penalties that may be imposed under the Internal revenue code. advice from our firm relating to federal tax matters may not be
fax: 941.460.9443                   used in promoting, marketing or recommending any entity, investment plan or arrangement to any taxpayer.

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Real Estate Contract Questions Answered

  • 1. Personal Injury & Wrongful Death lItIgatIon What Does the contract say? estate PlannIng real estate & tItle Insurance jack o. hackett II MarItal & faMIly september, 2009 envIronMental & lanD use BusIness real estate buyers and sellers, and even realtors, will occasionally call with elDer laW a question they think is so simple any attorney should know the answer. asset ProtectIon “I have a 15-day inspection period. Do I count weekends in that?” “I found out the zoning is not right for the way I want to use the property. Do I still have to go through with the purchase?” “I am having a dispute with the seller. can I just sue him or do I have to do some type of mediation or arbitration?” attorneys though clients do not usually like it when we answer a question with a earl Drayton farr, jr. (senior counsel) question, in these cases we have to. simply put, what does the contract say? these questions and many more are not a matter of law, but a matter of contract. guy s. eMerIch they cannot be answered correctly without first reviewing the documents signed jacK o. hacKett II by the parties. MIchael P. hayMans one popular contract form counts business days (no weekends or holidays) charles t. Boyle rather than calendar days. another counts calendar days unless the time period Darol h.M. carr is less than six days; then it uses business days. Most, but not all, say that if the last day is a weekend or holiday, you go to the next day that is not a weekend or DavID a. holMes holiday. gary a. Kahle jennIfer r. hoWell Many contract forms have a blank to fill in for your anticipated use. If you filled in “bank with drive-through windows” and the zoning does not permit it, roger h. MIller III you probably have an out. If you merely filled in the zoning category found on the Dorothy l. KorsZen county property appraiser’s website, say, “commercial general,” not knowing it WIll W. sunter takes “commercial Intensive” zoning to have drive-through windows, you might lose your deposit. erIc M. DecKer
  • 2. Personal Injury & Wrongful Death lItIgatIon If your realtor happened to use the far-9 form of contract you will have estate PlannIng to mediate first, and if that fails, go to arbitration. If the realtor used the far/ real estate & tItle Bar-8 contract form you can go straight to court if that is your desire. Insurance In any real estate transaction it is not only important how well the contract MarItal & faMIly was drafted, it is also important which contract form was used. It is not that envIronMental one form is necessarily better than another form; they are just different. When a & lanD use question arises during the purchase process, especially before closing, the first place parties and attorneys should look for answers is in the document that was BusIness used to ink the deal. elDer laW asset ProtectIon Punta gorda office: 99 nesbit street Punta gorda, fl 33950 to subscribe to our monthly newsletters, please visit our website at www.farr.com Phone: 941.639.1158 this newsletter is for general information and education purposes only. fax: 941.639.0028 It is not offered as legal advice or legal opinion. englewood office: to the extent this message contains tax advice, the u.s. treasury Department requires us to inform you that any advice in this 33 s. Indiana avenue letter is not intended or written by our firm to be used, and cannot be used by any taxpayer, for the purpose of avoiding any englewood, fl 34223 Phone: 941.460.9334 penalties that may be imposed under the Internal revenue code. advice from our firm relating to federal tax matters may not be fax: 941.460.9443 used in promoting, marketing or recommending any entity, investment plan or arrangement to any taxpayer.