Contract Comprehensive Form – Fill Out and Use This PDF

Contract Comprehensive Form PDF Details

The Contract Comprehensive Form is a Florida Association of Realtors® (FAR) addendum to the standard Residential Sale and Purchase Contract. It adds detailed terms that the base contract does not cover. Both buyers and sellers must sign it before the transaction closes. Real estate agents use it for Florida residential property deals involving condominiums or homeowners associations (HOAs).

What This Addendum Covers

This addendum addresses six key areas of a Florida residential transaction:

• Association disclosures - Required statements about condominium or HOA rules, fees, and finances
• Seller warranties - The seller's promises about the property's condition and clear title
• Financing terms - Conditions for FHA loans, conventional mortgages, and seller-provided financing
• Condominium documents - The seller must deliver all condo association records within a set number of days
• Special assessments - Which party pays any pending or approved HOA fees before closing
• Inspection requirements - Standards for home inspections and the buyer's review period

HOA and Condominium Requirements

When the property belongs to a homeowners association or condominium, the seller must provide all governing documents. These include bylaws, budgets, meeting minutes, and financial statements. The buyer has a review period after receiving these documents. During that time, the buyer may cancel the contract if any HOA term is unacceptable.

Some communities require a board interview or vote before a sale can close. This form outlines each step so both parties know what to expect. You may also need the HOA Application Form and the Association Resale Certificate for related requirements.

FHA Financing Provisions

When a buyer uses an FHA loan, this form sets specific rules for the transaction. The seller cannot contribute more than the FHA-approved percentage toward the buyer's closing costs. The property must meet FHA appraisal standards before the lender approves the loan. A licensed home inspector must certify the property's condition before FHA approval is granted.

These requirements protect both buyer and lender. They ensure the home is worth the purchase price and is in acceptable condition for financing.

Seller Financing and Mortgage Assumptions

In some Florida transactions, the seller provides direct financing instead of a bank. This form sets the terms for those deals, including the interest rate, repayment schedule, and default conditions. Mortgage assumptions, where the buyer takes over the seller's existing loan, are also addressed here. For mortgage transfer paperwork, see the Assignment of Mortgage form.

Damage to Common Elements and Rights of First Refusal

The addendum covers what happens if shared common areas are damaged before the closing date. The seller must disclose any known issues and explain how the association plans to address them. Some condominium associations hold a right of first refusal, meaning the association may buy the unit at the same price before the sale can proceed to an outside buyer. This form outlines the deadline for the association to respond to that right.

For other Florida real estate documents, see the Florida Purchase Agreement or the Florida Commercial Contract for commercial property transactions. To add custom terms to any contract, use the Addendum to Contract template.