Florida real estate transaction rules

Written buyer agency / buyer agreement: when it must be signed and what it must say

State law presumes “transaction broker” status. The written-agreement-before-touring requirement comes from NAR/MLS rules, not the statute.

• Florida licensees are presumed to be transaction brokers unless a single-agent or no-brokerage relationship is set up in writing with the customer (§ 475.278(1)(b), Fla. Stat.). The statute also says customers are not required to enter into a brokerage relationship.
• If a licensee acts as a single agent, the single-agent duties must be disclosed in writing. The disclosure is due before or at the time of the listing or representation agreement, or before any showing, whichever comes first (§ 475.278(3)(b)1.).
• Florida Realtors® explains that the written buyer agreement required before touring comes from the NAR settlement and MLS policy.
• 2025–26 changes: we did not find a 2025–26 Florida statute adding a written buyer-agreement requirement. Our search was not exhaustive, so treat this as Not verified yet.

Are escalation clauses allowed, and who may draft them?

Allowed. Florida Realtors® publishes an optional Escalation Addendum to Contract.

• Florida Realtors® released an Escalation Addendum to Contract on July 22, 2021, for use with any Florida Realtors® contract. Using it is optional.
• The form requires the buyer to set a maximum purchase price and requires the seller to give the buyer a copy of the competing offer used to calculate the escalated price.
• Whether licensees may write their own custom escalation language: Not verified yet. For anything beyond the approved form, consult a Florida attorney.

Must a licensed attorney handle the closing?

The standard contract allows an attorney or another closing agent. We have not verified a statewide attorney requirement.

• Under the Florida Realtors®/Florida Bar “AS IS” contract, closing is handled by “the attorney or other closing agent” designated by the party paying for the owner's title policy.
• We have not located a Florida statute or rule that requires an attorney at closing. Not verified yet as a legal rule.

Who holds the deposit and how fast it must be deposited

A broker who holds the deposit must put it in escrow by the end of the 3rd business day.

• Brokers must “immediately” place entrusted funds in escrow (§ 475.25(1)(k), Fla. Stat.). FREC defines “immediately” as no later than the end of the third business day after receipt, not counting Saturdays, Sundays, or legal holidays (Rule 61J2-14.008(3), F.A.C.).
• Under the Florida Realtors®/Florida Bar “AS IS” contract, the initial deposit either comes with the offer or is due within a stated number of days after the Effective Date. If the blank is left empty, it is 3 days. Any additional deposit is due in 10 days if left blank.

Can one broker represent both sides, and on what terms?

Not allowed. Florida bans both disclosed and nondisclosed dual agency. Transaction brokerage fills that role.

• A Florida licensee “may not operate as a disclosed or nondisclosed dual agent,” meaning a broker who represents both buyer and seller as a fiduciary (§ 475.278(1)(a)).
• A transaction broker gives limited, non-fiduciary representation to the buyer, the seller, or both. Duties include honesty, accounting for funds, skill and care, disclosing known facts that materially affect value, and limited confidentiality (§ 475.278(2)).
• A single agent may switch to transaction broker only with the principal's prior written consent (§ 475.278(3)(b)2.).

Key required seller disclosures

Statutory flood disclosure (expanded Oct. 1, 2025), plus the court-made duty to disclose known material defects.

• Sellers of residential property must give the buyer a flood disclosure in the statutory format at or before signing the sales contract (§ 689.302, Fla. Stat.).
• Effective October 1, 2025 (ch. 2025-166), the disclosure covers: any flooding that damaged the property during the seller's ownership; any flood insurance claims, including NFIP claims; and any flood-damage assistance received, such as from FEMA. The statute defines “flooding.”
• Florida case law (Johnson v. Davis, 1985) also requires a seller to disclose known facts that materially affect the property's value, are not readily observable, and are not known to the buyer.
• Federal rule: for most housing built before 1978, sellers must give the lead-based paint disclosure.

The standard inspection, due diligence, or option period in the common state form

15-day inspection period if left blank in the “AS IS” contract.

• Under the Florida Realtors®/Florida Bar “AS IS” contract, ¶12(a), the buyer has the number of days written in the blank after the Effective Date, or 15 days if it is left blank, to do any inspections the buyer wants.
• If the buyer decides in their sole discretion that the property is not acceptable, they can terminate by written notice before the Inspection Period ends and get the deposit back. The buyer still has to pay for inspections and repair any inspection damage.
• Form version we reviewed: ASIS-7 redline (rev. 12/24). Florida Realtors® released updated forms in 2025, so confirm the current edition.