Whether inexperienced or seasoned, a commercial real estate investor’s main focus is usually on their bottom line. In order to minimize costs, investors commonly use standard FR/BAR agreements, the most recent version of a Florida real estate form issued and approved by the joint committee of Florida Realtors and The Florida Bar, for the purchase and sale of commercial property.
Typically provided by brokers, the appeal to standard agreements, beyond cost, is usability. The broker is able to fill in the parties’ names, check a couple of boxes and move on to the next transaction. Before you pull out your pen to sign the standard agreement, there are numerous pitfalls to keep in mind. In the era of mixed-use, where many South Florida commercial real estate transactions involve properties with multiple kinds of tenants and use, a one-size-fits-all approach to contract execution can be problematic.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]