{"id":5753,"date":"2021-10-26T15:07:09","date_gmt":"2021-10-26T20:07:09","guid":{"rendered":"https:\/\/nwfl4sale.com\/will-more-closings-fail-and-buyers-lose-deposits\/"},"modified":"2021-10-26T15:07:09","modified_gmt":"2021-10-26T20:07:09","slug":"will-more-closings-fail-and-buyers-lose-deposits","status":"publish","type":"post","link":"https:\/\/nwfl4sale.com\/will-more-closings-fail-and-buyers-lose-deposits\/","title":{"rendered":"Will More Closings Fail and Buyers Lose Deposits?"},"content":{"rendered":"<p><img decoding=\"async\" class=\"wpe_imgrss\" src=\"https:\/\/www.floridarealtors.org\/sites\/default\/files\/styles\/full_width_main_image\/public\/page\/image\/2018-11\/form_translations.jpg?h=adb46350&amp;itok=QncpAcAv\"><\/p>\n<div class=\"content\">\n<div class=\"field field--name-field-news-image field--type-entity-reference field--label-hidden field--item\">\n<div>\n<div class=\"far-media-image\">\n<div class=\"field field--name-field-media-image field--type-image field--label-hidden field--item\">\n<\/div><\/div>\n<\/div>\n<\/div>\n<div class=\"far-byline-name\">\n<div class=\"field field--name-field-byline field--type-string field--label-hidden field--item\">By Kerry Smith<\/div><\/div>\n<div class=\"field field--name-field-summary field--type-text-long field--label-hidden field--item\">\n<p><span><span>In 5 days, new FR\/Bar contract versions will be released. Are you ready? Florida Realtors Legal Hotline already expects calls from members who didn\u2019t prepare.<\/span><\/span><\/p>\n<\/div>\n<div class=\"field field--name-field-body field--type-text-long field--label-hidden field--item\">\n<p><span><span>ORLANDO, Fla. \u2013 In just a few days \u2013 Nov. 1, 2021 \u2013 major updates to the Florida Realtors\/Florida Bar Residential &amp; AS IS Contracts go into effect, and the old versions won\u2019t be accessible via Form Simplicity any longer. In addition, seven Riders have been updated and three new Riders created. The latest version will appear through Form Simplicity and other licensed vendors.<\/span><\/span><\/p>\n<p><span><span>Contract changes are both large and small, but updates to Financing Paragraph 8(b) could create major problems for Realtors who don\u2019t understand the changes.<\/span><\/span><\/p>\n<p><span><span>A worst-case yet possible scenario: A buyer misses key deadlines, loses their dream home, and doesn\u2019t even get their deposit back.<\/span><\/span><\/p>\n<p><span><span><a href=\"https:\/\/www.floridarealtors.org\/law-ethics\/2021-residential-contract-updates\">Florida Realtors\u2019 website has a page dedicated to explaining the updates.<\/a> It includes redlines (old forms with changes noted) and blacklines (versions of the forms debuting Monday), links to webinars and PowerPoint presentations.<\/span><\/span><\/p>\n<p><span><span>Prepare now. If you wait for Monday, it might be too late.<\/span><\/span><\/p>\n<p><span><span>Questions? Call <a href=\"https:\/\/www.floridarealtors.org\/tools-research\/legal-hotline\">Florida Realtors Legal Hotline<\/a>.<\/span><\/span><\/p>\n<p><span><span>\u00a9 2021 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n<p><a href=\"https:\/\/www.floridarealtors.org\/news-media\/news-articles\/2021\/10\/will-more-closings-fail-and-buyers-lose-deposits\">Go to Source<\/a><br \/>\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Kerry Smith In 5 days, new FR\/Bar contract versions will be released. Are you ready? Florida Realtors Legal Hotline already expects calls from members who didn\u2019t prepare. ORLANDO, Fla. \u2013 In just a few days \u2013 Nov. 1, 2021 \u2013 major updates to the Florida Realtors\/Florida Bar Residential &amp; AS IS Contracts go into effect, and the old versions won\u2019t be accessible via Form Simplicity any longer. In addition, seven Riders have been updated and three new Riders created. The latest version will appear through Form Simplicity and other licensed vendors. Contract changes are both large and small, but updates to Financing Paragraph 8(b) could create major problems for Realtors who don\u2019t understand the changes. A worst-case yet possible scenario: A buyer misses key deadlines, loses their dream home, and doesn\u2019t even get their deposit back. Florida Realtors\u2019 website has a page dedicated to explaining the updates. It includes redlines (old forms with changes noted) and blacklines (versions of the forms debuting Monday), links to webinars and PowerPoint presentations. Prepare now. If you wait for Monday, it might be too late. Questions? Call Florida Realtors Legal Hotline. \u00a9 2021 Florida Realtors\u00ae Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":5754,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5753"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=5753"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5753\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/5754"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=5753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=5753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=5753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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