Real estate contract types include Residential Purchase Contracts, Lease Agreements, Contract for Deed, Listing Agreements and Land Contracts which are all by far the most used contract types in real estate. While many people prefer to use the services of an experienced real estate attorney and/or real estate broker to draft these contracts, many of these contracts have versions that can be drafted and used successfully by most anyone.
When a seller agrees to sell a residential property to a buyer, a version of a residential purchase agreement for the state where the property is located will be used. There are various versions of a sales contract. If you are using a real estate agent for a property in Florida, the most commonly used sales contract is the "AS IS" Residential Contract for Sale and Purchase. It's 12 pages, but pretty straight forward and easily to understand. The two main contingencies to protect buyers are the Inspection Period and the Appraisal/Financing section. Whether using this contract or another, it's very important to read up on these customizable contingencies and follow those timelines very closely. EVERY CONTRACT IS DIFFERENT, NEVER ASSUME ANYTHING.
Lease agreements in Florida can come in the form of a pre-written generic lease provided by a licensed Florida real estate agent, a real estate attorney, a property manager, found online or even written by a landlord. The important thing to note: the landlord can put whatever terms they want in a lease BUT the terms have to follow state landlord/tenant law. If there's a term written into the lease that conflicts with state law, the state law will win. So it's VERY Important that landlords, if writing or modifying in any way any terms on a lease agreement, follow state landlord/tenant law and adhere to it throughout the tenancy.
When an owner decides to sell, they may enlist the professional services of a real estate agent / broker. To establish the terms of how the property is to be marketed, timeframe, pricing and commissions paid... it's important for both the seller and agent to sit down and draft the listing agreement together and so both parties understand each other's expectations and form a plan to work together to achieve the seller's goals. There are several types of listing agreements (exclusive, open) and different types of representation (transaction, single agency). Listing agreements are usually very short 2-3 page documents that are written to be very straightforward, easily understandable documents.
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